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.
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.
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.
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?