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Any updates on square loans?

I have been with square for many years. New loans use to be offered at 70% pre-Covid and then they started offering new loans at 90% during Covid. Has anyone got a loan offer recently? Are they still offering new loans at 90% or has that been relaxed? I have no interest in the PPP money I am just looking to continue my business with square loans. 

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Square Community Moderator

Best Answer

Hi @BigA ,

 

Thank you for your question! We appreciate your post.

 

You may not be eligible at this time due to the status of COVID-19 related restrictions in your state.

 

We understand that the current situation is very uncertain and changing rapidly. For this reason, we are unable to provide specific examples of these restrictions. Please know that as we continue to monitor the situation and as more businesses recover from the impacts of COVID-19, more businesses will be eligible for a Square loan.

 

So far, there have been various industries and states that have recovered and will start to see offers appear. We will continue to check your eligibility on an ongoing basis, so check back regularly for any updates. If your business becomes eligible, you’ll be notified directly on your Square Dashboard and via email.

If you’re looking for other potential sources of funding, you can also visit this list of national and state business financing resources that we’ll continue to update.

 

I hope this information was helpful! If you have any other questions, please feel free to contact the Loans directly. 


Eric
Square Capital Team
Sign in and click Mark as Best Answer if my reply answers your question.

Square Capital, LLC and Square Financial Services, Inc. are wholly owned subsidiaries of Square, Inc., Square Capital, LLC d/b/a Square Capital of California, LLC in FL, GA, MT, and NY. All loans are issued by either Celtic Bank or Square Financial Services, Inc., both are Utah-Chartered Industrial Banks. Members FDIC, located in Salt Lake City, UT. All loans are subject to credit approval.

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Super Seller

I have read a few people being offered loans as of late Feb. and early March. I do feel like the PPP is taking precedence over Loans .  Which i do see the logic from Squares POV.   That's just my .02 on the Loans situation. Hopefully things will change for you.

Dan
Scorpion Coating Plus,LLC
Square Super Seller
Check out Square support center for additional help.
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Square Community Moderator

Best Answer

Hi @BigA ,

 

Thank you for your question! We appreciate your post.

 

You may not be eligible at this time due to the status of COVID-19 related restrictions in your state.

 

We understand that the current situation is very uncertain and changing rapidly. For this reason, we are unable to provide specific examples of these restrictions. Please know that as we continue to monitor the situation and as more businesses recover from the impacts of COVID-19, more businesses will be eligible for a Square loan.

 

So far, there have been various industries and states that have recovered and will start to see offers appear. We will continue to check your eligibility on an ongoing basis, so check back regularly for any updates. If your business becomes eligible, you’ll be notified directly on your Square Dashboard and via email.

If you’re looking for other potential sources of funding, you can also visit this list of national and state business financing resources that we’ll continue to update.

 

I hope this information was helpful! If you have any other questions, please feel free to contact the Loans directly. 


Eric
Square Capital Team
Sign in and click Mark as Best Answer if my reply answers your question.

Square Capital, LLC and Square Financial Services, Inc. are wholly owned subsidiaries of Square, Inc., Square Capital, LLC d/b/a Square Capital of California, LLC in FL, GA, MT, and NY. All loans are issued by either Celtic Bank or Square Financial Services, Inc., both are Utah-Chartered Industrial Banks. Members FDIC, located in Salt Lake City, UT. All loans are subject to credit approval.
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