x

When will I qualify for another Square loan?

When will I qualify for another Square loan?

20,405 Views
Message 1 of 72
Report
1 Best Answer
Super Seller

Best Answer

Every Square Loan offer is individual, there is no set percentage of a loan payback where you will or won't get another offer or even if you will get another offer while having a loan.  There are 100s of variables that are used to figure out Square Loans offers.  When you qualify You will see the offer in your email and on your dashboard.

View Best Answer >

22,788 Views
Message 2 of 72
Report
71 REPLIES 71

This is scary, to tell you the truth these loans is what’s keeping me with square. I’m about to finish off my 3rd loan. I guess I should start looking at PayPal and other competitors.

4,628 Views
Message 43 of 72
Report
Square

Hi there @Theblackrider, thank you so much for your post. Loan eligibility is independent of any previous offers your business may have received in the past. If you currently have a loan, your business may become eligible for a new offer when your existing plan is closer to being repaid. This timing helps to ensure that most of the offer amount doesn't go directly to repaying your existing loan balance. Please note that we can't guarantee that another offer will be extended.  I am passing along your feedback for my team. We really appreciate your feedback and want you to know we are constantly working on improving our products. Please let me if there is anything else you would want me to share about your experience.

4,893 Views
Message 44 of 72
Report

 I agree get the same generic answer from them i dont know why they treat good current customers like this

5,590 Views
Message 45 of 72
Report

Will I be offered another square loan?

5,486 Views
Message 46 of 72
Report
Alumni

Hi @Letrbuck - I moved your message here so you can see @VanKalkerFarms's best answer on page 1. 

 

Since this is a public forum, we can't answer account specific questions here, but you can email the Loans team if you wish to enquire further. 

 

To email them:

Go to squareup.com/help/contact

Click "Square Loans" 

Click "I don't see my issue"

Then you have the option to send in an email!

5,465 Views
Message 47 of 72
Report

When did you pay your last one off? I to am curious. I’ve been paid in full since the 10th. Normally by this point I’ve received and been funded!

5,447 Views
Message 48 of 72
Report

Hi I was offered a PPP loan last year but didn’t except it will I be offered another one this go around?

3,912 Views
Message 49 of 72
Report

Sorry ppp loan 

3,908 Views
Message 50 of 72
Report

We are wondering the same thing - currently over 80% paid on our primary loan and are looking at significant growth opportunities based on the amount of loans we can invest in product and process improvements. Can anyone provide any insight? We’re so grateful for Square Loans and are looking forward to continued business growth with their assistance!

 

 

5,441 Views
Message 51 of 72
Report
Alumni

Hi @DapperDeerCo - We don't have access to account specific information in the community, so I suggest you contact the Loans team directly for any account questions you might have.

 

You can do that by:

Going to squareup.com/help/contact

Click on Square Loans

Click on "I don't see my issue"

 

You'll then see the option to send them an email!

5,426 Views
Message 52 of 72
Report

I’m 60% paid off in my 3rd square loan. Just wondering when I’ll get my next offer because I am remodeling my studio and could use an offer soon! 

5,405 Views
Message 53 of 72
Report
Alumni

Hi @TrendzbyM - I moved your post over here, so you can check out @VanKalkerFarms's best answer on page 1!

5,395 Views
Message 54 of 72
Report

Keep Processing! No Set time; plan without it, so when it comes, its cherry on top! Good Luck

5,465 Views
Message 55 of 72
Report

This reply was created from merging an existing thread: How to refinance my loan

 

When do I qualify to refinance my loan?

4,897 Views
Message 56 of 72
Report
Admin

Hello @elbandurske, thanks for your post! I've moved it to this thread where you can read the Best Answer posted by another seller.

 

This Support Center has more information about becoming eligible for another loan through Square Loans too. 

️ Helen
Seller Community Manager

Did you find help in the Seller Community? Mark a Best Answer to help others.
4,883 Views
Message 57 of 72
Report

I've read that some have received second loan offers through square while repaying the first. Is there anyone out there that has info on how to qualify? We are 72% repaid and frowning but we have hit our cap in production do to refrigeration and would love to get a second offer to purchase more equipment and grow. Any info is appreciated. Thanks

4,604 Views
Message 58 of 72
Report
Square Community Moderator

Hi @HGBakery!

 

I went ahead and merged your post with this thread. This post includes the Best Answer posted by another seller that had a similar question. Also, check out this Support Center article "becoming eligible for another loan through Square Loans"

 

 

Kassi
Community Moderator, Square
Sign in and click Mark as Best Answer if my reply answers your question.
4,544 Views
Message 59 of 72
Report

Thank you for that.

4,542 Views
Message 60 of 72
Report

Am I qualified for another loan

4,439 Views
Message 61 of 72
Report
Admin

@alwalker41 @CONSTANTINA If you're eligible for another loan you'll be notified right away! Keep an eye on your email or look out for a notification on your online Square Dashboard.

️ Helen
Seller Community Manager

Did you find help in the Seller Community? Mark a Best Answer to help others.
4,420 Views
Message 62 of 72
Report

We too are praying for a loan! Business more than doubled in size over the last year and I need to make some equipment purchases and have some operating cash flow upfront to meet the demand. We have had 3 loans all paid off pretty quickly with daily sales. It’s been 4 months since our last loan was paid off. Fingers crossed. 

4,409 Views
Message 63 of 72
Report