Square loans with this whole corona virus payments

[Dbdheidi]

Hi, would like to know if there is anything in place for those with small business and have loans thru square loans who are doing poorly . Like in other words will square loans still give us more time to pay? Due to this pandemic 

[EmstersPawsLLC]

I called them today and they said NOPE! pay.... ridiculous lack of care for the small business owners who are struggling now. I think I will change my credit card processor going forward.

Em

[Dannypallet]

I was hoping they would still give new offers during this tough time. We paid off 70+% off of our loan in 2 weeks. 

[blacklisttatto]

They pulled all the new offers. We had one for 16 days and they told us it expired. SMH. 

[Northeastheal]

I've been paid off for 4 months and I've been doing more business than ever and I haven't been offered anything 

[blacklisttatto]

That may be another thing in all. But if they are retracting current offers that they had for sellers then others that had not had an offer will probably not see one anytime soon. 

The bank is covering their own backside with this. 

[Valentina · Accepted solution]

Apologies for the delay in our response here in this thread. If you have any questions about your current loan, please contact the Loans team directly. For more information about Square loan eligibility, please refer to this article from our Support Center.
 
Thanks for your understanding.

[Kristineks25]

Seems they don’t have a problem spitting out the same answer over and over. They are still collecting money from places that are running and then hiding it. With zero regard for the small businesses who line their pockets. When my loan is paid off I am moving all my services to a local bank instead of dealing with this. I am frustrated by their lack of communication and their obvious lack of caring about this community. 

[DebbieBorque]

They retracted my offer that I had three emails about...when I finally decided to take it, it wasn’t there. 5 years of giving them part of my money is rewarded in a most discouraging way. 

[Joe]

Hi there, @DebbieBorque - so sorry for the confusion here. Each loan offer is considered unique, and we would not be able to access the specifics of your offer here on the Community.

Please reference Valentina's Post above and feel free to reach out to our Loans Team for more information.

[SilverCentre]

In wake of the global pandemic of COVID-19, many of us small business are suffering greatly.  In particular, the event industry (my industry), bars, restaurants and any other brick and mortar forced to close due to social distancing.

I own an Event Venue and have been forced to close my doors for a minimum of 8 weeks according to the CDC.  This has misplaced MANY of my clients weddings, corporate events, social events, religious events and more.  How do we maintain with closed doors, cancellations and postponed events?

In an attempt to not go bankrupt, small businesses are searching for as many resources as possible to sustain and ride the wave.

Has Square thought about potentially increasing, extending additional funds or ANY measure as it relates to Square Loans, for it's clients and customers that are in good standing?  I'd be extremely interested in adding to my current loan and/or whatever other form of resource/relief Square would make available.

[JIMMYDEAN007]

I agree. I am in SC and it's hasn't hit us hard. Except people being out of work.  I am down half of what I usly do. We are still open and running service call's.  

[Valentina]

@SilverCentre + @JIMMYDEAN007 - 

Please reach out directly to the Loans team if you have any questions about your current loans with Square Loans. Thanks for understanding.

[KimsFab5]

This is what I dont understand,  the money is taking off the top! If we are processing payments then they get the money, and also have our bank account as BACKUP... im seriously considering moving as I have been offer FREE hardware and loans with another company.  

[Royaltowing]

Can I ask who is offering you free hardware and loans, as I have had about enough of Celtic bank my **bleep** self!!!!  I have consistently had loans through them for 5 years and this last one they upped the percent from 13 to 18.5, and now they are not offering a new loan, even though I am 89% paid off!!!!!  I was really counting on an offer coming through!

[12-wildsurf]

Not able to work during covid-19 how will I pay my square loan?

[Cocobeans]

Following! Our business was forced to close right now so hoping square will extend deadlines on loan payments. 

[Valentina]

For any questions related to your current loans with Square Loans, please reach out to the Loans team directly, @12-wildsurf and @Cocobeans.