Square Loans Reviews 

1,356
TrustScore 3.5 out of 5

3.5

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Rated 2 out of 5 stars

Services are OK, equipment works well. But as far as being a new business, if you are looking into a loan for product or equipment, forget about it. They say your eligibility is based off of custome... See more

Company replied

Rated 5 out of 5 stars

Square Loans was a timely alternative that boosted our working capital at a time a boost was needed. Applying is seamless, yet thoroughly structured, leaving no question to how it works. The dashboard... See more

Rated 3 out of 5 stars

Very disappointed in Square after several years of loans with no issues. Left me in limbo for two weeks telling me they had everything they needed only to be denied because I hadn't given them the in... See more

Company replied

Rated 5 out of 5 stars

Square loans have helped our small business over the past 5 years! We are currently paying down our 4th loan at 72% patiently waiting for an offer for our next loan. They make you an offer, you accept... See more

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  1. Financial Institution

About Square Loans

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3.5

Average

TrustScore 3.5 out of 5

1K reviews

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3.5

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Rated 4 out of 5 stars

I need more info on how self-employed…

I need more info on how self-employed solo proprietors can get this loan forgiven.

August 19, 2020
Unprompted review
Square Loans logo

Reply from Square Loans

We're currently working on an easy application to apply for loan forgiveness and adjust your loan balance automatically. As soon as the application is available, we'll provide you with all the information you need during the forgiveness process, but in the meantime, be sure to keep as much documentation as you can. For the latest updates on PPP loan forgiveness: https://squareup.com/help/us/en/article/6912-ppp-loan-forgiveness-what-we-know-now

Rated 5 out of 5 stars

Loved the loan process

Loved the loan process, it was easy to get and easy to pay back.I did't have to remember to send in a payment it was automatically done everyday for me and I could easily see the amount owed.

August 19, 2020
Unprompted review
Rated 5 out of 5 stars

Loan provided by Square Capital…

The loan provided by Square Capital allowed me to keep my employees working in these critical moments caused by the Covid-19 pandemic. The loan was given in a timely manner. Thank you so much.

August 19, 2020
Unprompted review
Rated 5 out of 5 stars

Brilliant.

I had attempted to apply for the PPPLoan without success, and had lost hope of getting it, when Square stepped up to the mat in a brilliant way.
It was such an easy process, and at the most crucial time for my business account as well as my employee's, the loan came through quicker than expected.

August 19, 2020
Unprompted review
Rated 5 out of 5 stars

I love using the Square Capital, except they left us during the pandemic

I love using the Square Capital - it allows me to grow my business, interest is fair, and love the method of payback.

The downside - I have to say I am disappointed Square is "protecting" themselves and no longer offering loans during the pandemic.

Our business has not slowed down 1 bit, if anything it has improved (thank goodness) - Square has consistently offered loans the exact same months to our business for the past few years.

Yet regardless of making all payments consistently on my side, Square "randomly" shows I am ineligible at the moment....

It is frustrating to not depend on Square to be consistent in this time - due to their own interests of focusing more on PPP than their original design model of offering businesses a boost when needed especially when they had been consistent 2 years prior with offers, business shows reliable income coming in, and reliable payback.

August 19, 2020
Unprompted review
Square Loans logo

Reply from Square Loans

Thank you for providing your feedback. As you may have heard, due to the impact of COVID-19, eligibility for loans through Square Capital was paused temporarily. As of now, some business markets have stabilized so we can responsibly provide access to loans to some businesses once again; however, to account for local and state restrictions related to COVID-19, eligibility criteria has been tightened. Due to evolving health guidelines, your offer may be smaller than expected or the offer amount may shift in real-time. If you don't currently have an offer available, please know that we'll continually check your eligibility and notify you directly on your Square Dashboard and via email if you become eligible in the future.

Rated 5 out of 5 stars

Square is Better - They Make It Easier

I've been very pleased with the entire process of obtaining a PPP Loan (Small Business Administration) through Square. Their website application was straightforward and the process was reasonably easy as I was prepared with the necessary data. The processing time by Square from application acceptance through approval and funding was considerably shorter than I expected. Lastly, they have continued to communicate with me regarding the forthcoming loan forgiveness process. They've provided helpful information and advice on preparing materials for use in the forgiveness application. With that information I've been able to compile the items necessary to support a forgiveness rate of nearly 95%. I would highly recommend Square to others and would be pleased to conduct business with them again. I'd chose them over any "Big Bank". They were just better, period!

August 19, 2020
Unprompted review
Rated 5 out of 5 stars

Square contacted me

Square contacted me, and let me know that I was able to get a loan. It was so easy and quick. Thank you Square!

August 19, 2020
Unprompted review
Rated 5 out of 5 stars

the PPP loan that I received from…

the PPP loan that I received from Square was very helpful in continuing my business
they were very efficient in the application process and guided me in the documentation process
the instructions were clear and understandable
I did not have any problems that were not expeditiously solved

August 19, 2020
Unprompted review
Rated 5 out of 5 stars

Square Capital is my businesses only…

Square Capital is my businesses only source for lending. Easy repayment plan and tools to keep you up to date on how much has been payed and remaining balance. Great resource, I have recommended Square and Square Capital to business owners I know.

August 18, 2020
Unprompted review

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