Is SBA replacing the Square Capital?

We haven't received another loan offer - which I find odd because we are 100% paid off on the last one and typically see an additional offer at 80% or so.  All numbers are significantly up as well. Has anyone else noticed no offer? Or am I just stuck in unknown algorithm for now?

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Re: Is SBA replacing the Square Capital?

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👋👋Hey @RadioMcG and @ecantiques5

Thank you both for your posts. Regina from the Square Capital Team here. Given the current economic challenges facing many small businesses, we’ve had to reduce our Square Capital loan offers to uphold our mission of responsible lending. To help our sellers through this time, we are working with sellers who need payment relief on existing Capital loans outstanding. 


Though we may not be able to extend a loan offer through Square Capital right now, teams across Square are unveiling new ways to support businesses’ need for cash flow, and our team is extremely focused on bringing the SBA’s Paycheck Protection Program to our sellers. We also have a dedicated team researching new resources and are updating this list weekly. Here’s the link: Square Capital COVID-19 Business Financing Resources Support Center article


For more information about PPP, please take a look at our FAQ. Thanks again and take good care. 

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Message 19 of 166
165 REPLIES 165

Re: Is SBA replacing the Square Capital?


To my knowledge there has not been one Square Seller to post on any thread recently that they received a Square Capital Loan as they have in the past. Not ONE. Regardless if Seller in good standing & algorithm eligible. In fact sellers that had loan offers showing on their dashboards had their offers to disappear.


I would love to have the reassurance of having one seller to post that they received a sqaure capital offer on the normal algorithm eligibility. Anyone???

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Square capital

When will square start square capital programs again? PPP loan hasn't helped my business much at all it was such a small amount....

Message 3 of 166

Re: Square capital

Agree, PPP was barely enough to cover for the damage that was done.  The is the WORST time to not give out loans to us....small businesses like me that don't qualify on the scale for loans from banks or SBA rely solely on Square Capital for fast help......but no, they approved me and then cancelled on me.

I'm all paid up, ALWAYS paid up MONTHS ahead of time, and had been with them for more than 5 loans now....all paid ahead of schedule.....

this is very disheartening....

Message 4 of 166

Capital and Covid

Having many loans through Square Capital over the years I’m wondering if because of Covid happening if they are not offering any loans at the moment. My loan is %100 paid off and no offer yet. This is unfortunate seeing as though people are still working and still keeping their businesses open. Anybody receive a capital offer recently? 

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Re: Capital and Covid



Welcome to the "Square has hang us dry club". So far in this thread (and the admin keeps merging them. So we know for a fact they are reading this.) they "Paused Square Capital" so they can focus on PPP loans. We stopped using Square when we paid our last Loan. I'm hanging around just in case.

Message 6 of 166

Re: Capital and Covid

Well I have never had issues with square so this is my first real issue with them. I flat out asked customer service if they are still offering capital loans at the moment and the answer I got was “yes we are still sending offers” but I’m pretty sure they are not.  Then I get the answer of “we check eligibility on a daily basis and you will be notified through email and your dashboard”


so here we all sit....and wait 

Message 7 of 166

Re: Capital and Covid


I have no way to know what is really going on with Square Capital...they will say one thing and then behind the scenes being doing the EXACT opposite. The admins here have used ambiguous verbage such as " reducing " capital offers,  or reevaluating our capital program to ensure best lending practices. But not one of Square's thousands and thousands of sellers have posted about receiving an offer since we all set sail on Covid ordeal.

I do see they are no longer accepting applications for PPP so perhaps they may begin offering them again. But Square Capital let me down when I needed them most. We have had several past successful loan completions, process revenue daily even during Covid, have broadened our new client base and maintained a steadfast returning client base.


So for now, just because we recently invested in their terminal for our shop we will continue with Square but as soon as I get some time to research some other processing options I will choose my processing company accordingly.

This really was a significant breach of our partnership with Square.


I gotta say... I really have enjoyed not having that loan repayment percentage tacked on to my processing 😊


Wishing you the best😊

Message 8 of 166

Re: Capital and Covid

same here.  if I hadn't invested in the whole pos/processing/ipad thing with them already, I would drop it.  It's not like they are cheap on the %.


They approved me in April and then cancelled me after 2 days. 


I processed all thru covid and did ALWAYS paid up MONTHS in advance.  This is really bad timing and really screws up small businesses like me that need them the most and they need to understand it's us that keep them in business....


this is awful.


Also, my Square card got hacked into and it's been 3 months and I still didn't get my money back....it's crazy

Message 9 of 166

Re: Capital and Covid

My square card was hacked last week for over 3000.00 and I haven't received any of my money back either.

Message 10 of 166