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
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See what reviewers are saying
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
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
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
Company replied
3.5
Average
1K reviews
No recent history of asking for reviews
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This loan was easy to attain and…
This loan was easy to attain and affordable for my business! I really enjoyed the experience, I am hoping to receive another offer to continue to grow my business!
Love,
Alpha Canine
Hamilton, ON
June 13, 2022
Unprompted review
May use AI-assist with repliesRead more
At Trustpilot, it's all about human content. This business can also access our AI-assisted response tool which helps them draft replies.
Stay away from loan offers
Stay away from loan offers. Its an extortion , a robbery. They take 17.5% of your daily sales. Recently they offered me 17.5K loan with a loan fees of 2.3k My monthly credit card sales are in excess of 30K which means they will get their money back in less than 3 month. For this offer comparison rate is over 40% PA. What a joke !!! No wonder why their stock price dropped 40%
May 24, 2022
Unprompted review
Reply from Square Loans
Thank you for your feedback. It sounds like you are referring to the repayment rate which is the percentage deducted from your card processing to payback the loan. Your loan offer is based on several different factors including, but not limited to, current payment processing volume and Square account history. Please note, this repayment rate is not an interest rate. In fact, there are no ongoing interest charges for your loan. Additionally, a seller pays one flat fee to borrow the loan. This fee never changes. You are also able to customize your loan offer in your Square Dashboard. The smaller the loan offer size you request, the smaller the repayment and fee rates will be.
Great service easy to pay back.
Easy to apply. Deposited next day. Third loan I've gotten from square. Never a hard ship to pay back!
May 2, 2022
Unprompted review
I like working business with you guys…
I like working business with you guys you guys are amazing
April 19, 2022
Unprompted review
Looks use full to keep ur business in…
Looks use full to keep ur business in order.
April 4, 2022
Unprompted review
this is a daylight rubbery
this is a daylight rubbery. Its an item to make you disrespect Square
March 27, 2022
Unprompted review
Reply from Square Loans
Thanks for flagging this issue. We'll need more information in order to understand this better. Please contact us directly so that we can further investigate: https://squareup.com/help/us/en/contact?panel=FAB456B04971
I have always been able to get a loan…
I have always been able to get a loan from Square. Recently, they make you go through hoops to get one. It is ridiculous. I have been getting loans through them for YEARS. I have never had a problem paying them back either. I am about to go to Clover or another merchant processor. I am done!
February 25, 2022
Unprompted review
Reply from Square Loans
We're sorry to hear about your experience, however, we greatly appreciate your feedback. As part of the ongoing due diligence by Square Financial Services, each Square Loan request is unique and evaluated separately. But please know that we're always working to improve our products and services based on the feedback we receive from customers.
Repayment to high
December 12, 2021
Unprompted review
Reply from Square Loans
Sorry to hear about your experience but thank you for providing your feedback. The repayment percentage is tied directly to the loan size and designed to help your business grow without being overburdened. Increasing the repayment percentage of your business’s daily card sales can provide your business access to larger offer sizes. This is one of the top requests we’ve heard from sellers like you. However, please know that we’re constantly working to improve our products and services based on the feedback we receive from customers.
well done very exciting news
well done very exciting news
love your commitment to SMBs
December 6, 2021
Unprompted review
No issues and legit
No issues and received the loan quickly, as well as paid it off earlier then the time allotted.
December 3, 2021
Unprompted review
I got offered a loan
I got offered a loan. I was bit hesitant at the start. So I took a small loan to buy some extra equipment. Cards sales was a good idea you don’t see it going missing. But some of my clients pay by cash or by invoice. We had a bit of money tuck away so we thought we would pay out the loan. After reading the fine print. I thought we would be entitled to another loan because we paid it off in 5 months not 18 months. We thought great loan paid off we would be entitled to another loan to expand instead going to the bank. We don’t know when we will be entitled to another loan. Would be great if Square Capital gave some incentive paying back the loan quicker.
October 22, 2021
Unprompted review
I recently took out a loan from square
I recently took out a loan from square. They advertise 18 months to pay. Yet they use a scummy method of taking a % of the daily sales volume including tips. As a restaurant owner an 18.75% rate is leaving me very little room to operate daily. With this rate my loan is being paid off in about 5 months. I took out a loan thinking I’d have at least a year to pay it off but to be forced to pay in 5 months. I talked to a customer rep and they said it can not be changed to accommodate a lower rate or even a monthly minimum. To me this is just bad business practice, very scam like. Good luck to anyone considering square loans. Frankly I’m so upset with this whole situation I’m considering switching POS also.
Edit: consider making it a monthly minimum, stretch it out to 1 year at the very least. this would ease the burden of taking away revenue from places are doing higher volume and don’t include TIPS in sales especially at a restaurant where the TIPS are wages.
October 8, 2021
Unprompted review
Reply from Square Loans
Sorry to hear about your experience. The repayment percentage is directly tied to the loan size and designed to help your business grow without being overburdened. Increasing the repayment percentage of your business’s daily card sales can provide your business access to larger offer sizes. This is one of the top requests we’ve heard from sellers like you.
Smooth process
The process for loan offers and approvals is a little mysterious, but overall a very smooth, easy process!
October 8, 2021
Unprompted review
Past 3 years I have always paid my…
Past 3 years I have always paid my loans of in half the time they require!
Since this Past 12 months our loan offers are less than half of what they've offered in the past.
Bottom line I've been golden to square paying 100% of there loan principal and get treated horribly.
My Company staff is now seeking another POS merchant.
You've been warned....Give them 100% they give you 10%...
One more thing...this post will probably get 0 response from Square.
September 16, 2021
Unprompted review
Reply from Square Loans
Sorry to hear about this. Offer availability and sizes are based on a variety of factors including, but not limited to, your business's current payment processing volume and progress on any plan that is currently active. We cannot predict if or when your business may receive a higher offer, but please know that your account will continually be evaluated on a daily basis for offers.
I love doing business with Square
I love doing business with Square. The loans always come through when I need them the most. Helps my business so much and never an issue. They're always looking for new ways to help business owners! Grateful
July 26, 2021
Unprompted review
it is very easy to get capital for my…
it is very easy to get capital for my bussines
No hassle
June 12, 2021
SQUARE HAS A GOOD POS.
SQUARE HAS A GOOD POS.. BUT THEY ARE A HORRIBLE COMPANY AND THEY WILL TAKE YOUR MONEY AND NOT LET YOU SPEAK TO ANYBODY ... THAT IS WITH ZERO CHARGEBACKS OR REFUNDS.. SO THAT IS JUST STEALING, THEY HAVE STLOEN 19K FROM ME ... FOR NO REASON AND THEN THEY GO IN HIDING... NOT TO MENTION ALL OF THE MONEY THEY MADE... I HAVE LEGITIMATEW BUSINESS PAPERWORK AND THEY KNOW IT
YOU HAVE BEEN WARNED!!!!!!!!!!!!!!!!
June 11, 2021
Unprompted review
Reply from Square Loans
We're sorry to hear about your experience. We work constantly to improve our services and products based on the feedback we receive. A member from our team will be in touch with you shortly to further investigate and assist you with your concerns regarding your Square account.
As a small business we are grateful for…
As a small business we are grateful for the Square Capitol loan we received. They made it simple .easy . we were able to pay it off before it was due! Thank you !
June 10, 2021
I absolutely love love love the ease of…
I absolutely love love love the ease of using Square Capital Loan....I will do this forever!
June 9, 2021
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