How can we get additional Square Loans?

[Community-Team]

Hello, we were wondering if we are able to get an additional Square Loans offer?

[#2]

Hi all! To start off, I’m happy to see that our Loans offerings have been beneficial to your businesses and apologize for any concern. 

Because every Loans offer is unique to the business that it is offered to, I can't tell you exactly when or if your Loans plan will be eligible for additional funds, but I can say that the more you process with Square the more likely it is for you to be eligible for additional Loans offers! 

Here are some of the key eligibility factors for a loan through Square Loans:

• Processing volume: In general, businesses that have processed at least $10,000 or more in a year.
• History with Square: Your history with Square is used to spot trends and understand how you might grow in the future.
• Activity: The number and frequency of payments processed through your account.
• Customer diversity: Mix of new and returning customers as an indication that your business is growing in different ways. A healthy, growing business.

We review accounts every night so even if you are not eligible today, you may be in the near future. To see you current offers, check our the Loans tab in your Square Dashboard.

For other general questions, I'd also suggest checking out this Support Center article: Square Loans Eligibility. It covers some frequently asked questions about Square Loans. 

As for anything more specific than this, you'll want to reach out directly. For everyones privacy, we won't discuss account related inquires on a public forum. 

[Lisathomas02]

I need a Square Capital One deposit into my account now $500

[Joe]

Hi there, @Lisathomas02! Thanks for reaching out to us here on the Seller Community 👋 Happy to have you here in the fold.

Thanks for your interest in Square Loans! I'm glad to hear we might me able to help you out with a little boost. I'm going to merge your post with this existing thread about gaining extra Loans from Square. You will find all the best practices for being eligible for a new loan there.

Let me know if you have any questions! 

[Xds]

93% paid off current loan.  No charge backs. Business is booming and #s show it. Still no offer. Any updates? 

[Joe]

Hi there, @Xds 👋 thanks for reaching out to us again here on the Seller Community! Good to hear from you!

I've gone ahead and merged your post into an existing thread of Sellers who were also looking for information regarding Loans offers. Square Loans will automatically reevaluate your business for new offers—no need to even ask! Rest assured that we are routinely reviewing your account for eligibility, but keep in mind that another offer is never guaranteed.

What do you need to do? Keep doing business as usual. You do not need to contact us or provide any additional information to become eligible for a subsequent loan offer.

We look at many factors about your business to assess your eligibility, including the payments you process through Square and your history working with us. There are no long forms or significant paperwork to fill out, which means you have more time and resources to dedicate to running your business.

I hope this information is helpful! Feel free to reach out is anything else comes up. We are here to help! 

[Twpchair]

Hello, Joe, I'm in Michigan and I just received a new Square loan a couple of weeks ago, 10 days ago exactly. It was 1/3 of my last loan and I'm sure I'll have it paid back quickly but they are still doing it. I believe I was at 90% if that helps 

[Twpchair]

Did you ever receive a new offer? Just curious to see if they are still doing them? I'm at 70% or more and nothing yet, I usually get an offer between 68-75% paid off. 

[Charlygirl]

Hello community I just googled is square loans still doing loans and the reply was no. Can someone give insight?

[Whoopiepie]

I've been paid back for 3 weeks and still nothing.

[Joe]

Hi there, @Charlygirl 👋 Thanks for reaching out to us here on the Seller Community!

We can confirm that Square Loans has resumed loan offers. Square Loans are extended and regulated by our Loans Department. Loans themselves are viewed individually, meaning that eligibility for a loan is not dependent upon past loan status or success.

To be considered for a new loan, continue to be a strong Seller and we will reach out when we have a new offer available!

[Twpchair]

I received one 10 days ago, 1/3 of my normal but yes they are I believe I was around 90% if that helps you any. 

[Rfain2]

I am usually getting approved for Square loan by now and haven’t been over year and about to pay off. Have anyone else had this issue?

[Twpchair]

Many are I just got mine a few weeks ago, about 1/3 of the normal amount, and I was 90% or a tad higher before my offer came in. I'm from Michigan.

[Ke79]

Hello can y’all help me loan and I am deaf