When will I qualify for another Square loan?

[Executivechick]

When will I qualify for another Square loan?

[Theblackrider]

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.

[Regina_B]

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.

[cbkbears07]

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

[Letrbuck]

Will I be offered another square loan?

[katieand]

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!

[fatbodie2]

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!

[melissab33]

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

[melissab33]

Sorry ppp loan 

[DapperDeerCo]

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!

[katieand]

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!

[TrendzbyM]

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! 

[katieand]

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

[Soulsquad]

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

[elbandurske]

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

When do I qualify to refinance my loan?

[Helen]

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. 

[HGBakery]

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

[Kassi_]

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"

[HGBakery]

Thank you for that.

[CONSTANTINA]

Am I qualified for another loan

[Helen]

@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.

[Lindsey-Pantry]

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.