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square capital

Is square still offering capital loans?

Message 101 of 166
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So no new loan ?

No new loans. I am all payed up, But no new loans? I am doing very good, But what is going on?

Message 102 of 166
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Re: So no new loan ?

@jim90909 

Square is no longer offering a capital loan product. They are only doing SBA PPP loans ( at a lower amount than what you are  truly eligible for ) and Deferment Of Auto withdrawals for loan repayment.

 

 

Message 103 of 166
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Re: So no new loan ?

What does that auto deferment mean?

Message 104 of 166
220 Views
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Re: So no new loan ?

@Lizzy1 

If you have a Square loan and have not been processing payments where your repayment percentage is taken out & repaid to your loan, Square has deferred the auto deduction to your linked checking account to meet that required payment.

Message 105 of 166
206 Views
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Re: So no new loan ?

I believe they are deferring any payment deductions for your minimums until the end of July. They are not adding minimums on to the back and of your loan so it is still all payable in 18 months. Not sure it they will hit your account end of July for back payments either.

Message 106 of 166
187 Views
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Is Square Capital going to continue giving loan offers through the COVID-19 pandemic?

I have had many loans through Square and I have currently paid down 81% of my loan and never had to be paid this much to receive another offer...Are you still giving loans through the COVID-19 pandemic? 

Message 107 of 166
447 Views
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Admin

Re: Is Square Capital going to continue giving loan offers through the COVID-19 pandemic?

Hey there, @BrandyBoozer

 

Right now, we’re evaluating all options to support sellers, but have nothing new to announce at this time.

Kassi
Community Moderator, Square
Sign in and click Mark as Best Answer if my reply answers your question.
Message 108 of 166
429 Views
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Re: Is Square Capital going to continue giving loan offers through the COVID-19 pandemic?

It is very disappointing that square has chosen not to be transparent with their customers during this time. My business has been quite busy since the pandemic and square even cut me off from any offers. After I’ve had 7 or 8. I’m not in dire need but I am frustrated for those that are and the unwillingness to be transparent. Just say “we aren’t offering new loans right now because of the pandemic.” Simple. Instead of making your customers hopeful and left waiting in their most desperate time. 

Message 109 of 166
462 Views
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Re: Is Square Capital going to continue giving loan offers through the COVID-19 pandemic?

I agree we have always been on time and we got a loan offer less than 20 days ago and now it’s gone,that’s not helping people at all!

Message 110 of 166
525 Views