Hello, I’m at 85% on my Square Loan and hoping for a third loan offer any day now? Please

[Texturesalon]

Hello I’m at 85% paid off on my second capital loan and am patiently waiting for renewal offer at least by this percentage laid back. I appreciate all square does and really the Square Loan program is so helpful and gives business owners like myself a peace of mind knowing we chose square as our processing company and they appreciate us by continued loan renewals. Please assist in helping my business get noticed to become eligible again and as always THANK YOU SQUARE

[DaoDeJing · Accepted solution]

There is no set percentage of having paid off a loan before one receives another offer.

Precisely what needs to be done to get a new loan is never going to be revealed, as it is proprietary information. All that can be said is "keep processing cards, and keep working on improving all of your metrics, and perhaps one day you'll be blessed with the pleasant surprise of a loan offer".

Never expect to get a Square Capital loan, never plan to be getting one, never hope to get one. Sorry to say, you should operate as if the Capital loans are completely non-existent.

If a Square Capital loan is offered, I suggest it be seen as a surprise and out-of-the-blue opportunity. To view them otherwise is to just set oneself up for frustration.

[Tiffanygalchutt]

I’m at 78 percent and my factors went away and now says my business isn’t eligible for the program, nothing changed and im on time. So confused 

[Kimmiesue12001]

A lot of us are in the same boat. Keep processing....

[Kirtsess]

My Square loan is 100% paid off, so why can't I get another loan.

[Coffeebae]

Likewise. Waiting 

[Cameron_]

Hi @Kirtsess, 

Thank you for bringing up your question in the Community. I would be happy to answer. 

The Square Loan program is currently offered by invitation. Offer eligibility is largely based on current payment processing data, which means eligibility can change as frequently as your business does. Because businesses are dynamic, we’re unable to guarantee Square Loan offers.

Your account is regularly evaluated for offer eligibility based on many different factors. If your business satisfies one or more of the criteria, your business may still be ineligible if it does not fulfill other eligibility requirements. Some factors to watch out for that might affect eligibility are chargebacks, unusual processing behavior, and failed debits.

At this time, we can’t predict if or when your business may be eligible for an additional Square Loan, however, we will continue to monitor your account for eligibility. If your business becomes eligible to apply for a loan, we’ll notify you through your Square Dashboard.

If you have any additional questions, please feel free to contact us.

[HealthySF9]

We too have been receiving and paying off numerous loans with Square since 2017. We usually receive an offer at around 75%-85% as well. 

We are about 2 months into the current loan and paid back 93% now but still no new offer yet.   Square capital has been vital in helping us grow and stay alive during the past tough few years.  Hopefully we can get another offer soon. 

Last few months has been tough for service based business and restaurants.  

Good luck yall