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Square Capital and COVID-19

We understand that this time of uncertainty is challenging, especially for business owners affected by COVID-19. We hope you all are continuing to stay safe and healthy. 

 

Please refer to our COVID-19 FAQ as well as our Support Center article Square Capital COVID-19 Business Financing Resources for details on some relief available to you. We have heard from many of you and hope that these can help in addressing some of the questions you might have.

 

Many of you have reached out regarding accessing capital or previously available, but expired, offers. Please know that your business will continue to be reviewed for eligibility for loans through Square Capital. If your business becomes eligible again, you will see loan offers in your Dashboard. We are actively working on ways to continue to support you and will update you when we have other options. 

 

If you currently have an active loan through Square Capital, and are concerned about loan repayment, please reach out to us so we can better assist you. Again, we will continue to look for potential solutions to best assist Square businesses moving forward.

 

Thank you for your patience and understanding and for being a Square Customer.

Message 1 of 84
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Has SQUARE slowed there Capital Loan offers due to the Corona Virus?

I know that each loan is carefully considered and that square evaluates daily, however with the virus, it seems it's been an unusually slower than ever.  My sales are up and loan is at 81% paid.  Any news on anything?

Message 2 of 84
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Admin

Re: Has SQUARE slowed there Capital Loan offers due to the Corona Virus?

Hey @cedarsacademy, Regina from the Square Capital team here. Thanks so much for your post. We understand that this is a concerning time, especially for business owners. If you have any questions regarding loan eligibility, you can find information on our Support Center. You can also reach out to us here. Please continue to stay healthy and safe!

Message 3 of 84
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Re: Has SQUARE slowed there Capital Loan offers due to the Corona Virus?

Please let us know what the status is on new loans when you can - a lot of people are wondering.

Message 4 of 84
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Re: Has SQUARE slowed there Capital Loan offers due to the Corona Virus?

Hi I’m over the 80% payback of my loan right now a lot of businesses our suffering do to the epidemic as customers that been with your company for a awhile and has paid off two loans already I’m wondering about how your company will help with offering news loans 

Message 5 of 84
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Re: Has SQUARE slowed there Capital Loan offers due to the Corona Virus?

We’ve gotten a new loan offer every time we hit 65-70%. We hit 75% and now offer. I’m sure what’s going on has a lot to do with it. 

Message 6 of 84
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Re: Has SQUARE slowed there Capital Loan offers due to the Corona Virus?

What they are not telling you is that they have revoked all offers. 

Message 7 of 84
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Re: Has SQUARE slowed there Capital Loan offers due to the Corona Virus?

They revoked mine and I was depending on it since I only owe $75 on current one. It was there a few days ago then removed completely 

Message 8 of 84
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Re: Has SQUARE slowed there Capital Loan offers due to the Corona Virus?

I agree, they are most certainly holding out on capital loans. I have had 2 loans a year and have paid them back everytime early.  Square is showing their true colors right now when business needs this the most right now. The only reason I use square is for this feature. If I pay off the remainder of this loan without an offer I will be moving to another vendor for processing. They are quick to take our money in normal times and now have frozen their program. 

Message 9 of 84
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Can square loosen loan reatrictions during covid 19 crisis?

Can square capital adjust qualification requirements given the fact that c-19 is already dramatically affecting business? This seems like it is a short term problem that square capital could really help their ients overcome. If clients weather this storm and stay in business square wins in the long run

Message 10 of 84
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