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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You have a set amount you charge for…
You have a set amount you charge for interest and you take a percentage of my transactions to pay the loan. I love it because it simple.
June 7, 2021
Reply from Square Loans
Thanks for providing your feedback! It sounds like you may be referring to the fixed percentage that's deducted from your business's card sales for your loan repayment. Please know the percentage of sales is not an interest rate. We are also thrilled to hear how your Square Loan provides benefits to your business. We hope you continue growing your business with us.
Purely genius program!
I absolutely love the whole system. It all makes sense, you really can’t improve anything. It’s perfect! I’ve never had an easier time paying back a loan and will continue to use the capital just to build a better relationship with square!
June 7, 2021
Awesome Service's
Awesome Service's . Love square !!
I need more capital .. please !! Starting to get busy need business supplies .. please send more capital ..
June 7, 2021
Great service
June 7, 2021
Great service and easy processing.
June 7, 2021
The loan service is excellent!
The loan service is excellent!! It has help our company thru the COVIC 19 pandemic. It easy to apply and the payment plan is awesome.
June 7, 2021
The square capital loans have been…
The square capital loans have been viable in allowing me to invest in my small business. Whether it's purchasing new tools or floating large jobs has made it possible with square capital.
June 7, 2021
Great square capital loan option
Great square capital loan option. Which is easy to pay back.
June 7, 2021
Square Capital is fast
Square Capital is fast, easy and reliable for my small business. I appreciate how quickly the offers come in and get deposited into your account. Happy to he a longstanding customer of Square.
June 7, 2021
This process was so simple
This process was so simple! I'm all about convenience as a Mom of 6 and a business owner. The best part is i don't have to make any payments, they come directly out of my credit card transactions!
June 7, 2021
Very helpful with everything going on
Very helpful with everything going on. Easy process to complete as well. Thank you
June 7, 2021
Very easy and convinient
Very easy and convinient. I do wish the interest rate would lower with more paid off loans way adhead of schedule. Example, Business " A " has had 4 loans thru this program, all paid off early. Maybe 1/2 % decrease down to an established level that works for the lender with every loan completed early?
June 7, 2021
Reply from Square Loans
We appreciate your feedback! At this time, Square Loans have no ongoing interest charges. You may be referring to the repayment rate which is a fixed percentage of your business's card sales that's deducted for your loan repayment. Please know that offer terms are based on many factors, including your business’s most current processing activity.
So helpful and easy to pay back quickly
June 7, 2021
I LOVE THE LOANS THEY ARE SO CONVIENT…
I LOVE THE LOANS THEY ARE SO CONVIENT AND HELPS ME ADVANCE MY BUSINESS. AND PAY BACK IS REASONABLE .
June 7, 2021
I love the loan it helps with the…
I love the loan it helps with the business but takes too long for approval to get another one after you have paid it off
June 7, 2021
Reply from Square Loans
Thanks for your feedback. We determine eligibility based on a variety of factors including your processing volume and Square history. Please know that we continually re-evaluate your account on a daily basis to determine if you’re eligible for another Square Loan, so be sure to keep an eye out for any notifications on your Square Dashboard and via email!
This is a great way for bussiness to…
This is a great way for bussiness to grow, Thank you square,
June 7, 2021
Worst Service and Support Ever
Worst customer service ever. They completely screwed up my second PPP loan. I mean they never even submitted it to the SBA.
And when the SBA announced the loan funds were depleted and no more loans would be made, Square customer support said," Gee, we're sorry, we don't know what went wrong, but too bad for you."
Still waiting for an explanation how they completely failed to submit my loan application.
E.I.
Just to be clear you sat on my application for more than six weeks then you emailed me say you cancelled it. No one at Square could explain why and I still have no answer.
But you did say I could resubmit it. Then a few days later you told me my second second PPP could not be processed because the Sba ran out of money.
If you had handled my first second PPP loan application properly you would not have to make excuses about how it takes several weeks to process an application. You had the application for almost two months. You just screwed up and screwed me in the process.
May 11, 2021
Unprompted review
Reply from Square Loans
Sorry to hear about your experience. We're constantly working to improve our services based on the feedback we receive. The PPP application review process can take several weeks because of the review requirements set by the SBA. Please know that we didn't receive advance notice in order to warn our borrowers about the program ending. For this reason, your application wasn't processed prior to our team learning that as of May 4, applications from lenders like us would no longer be accepted by the SBA.
If you're in need of funding, a portion of PPP funding allocated specifically for PPP loans is still available through Community Development Financial Institutions (“CDFIs”), Minority Depository Institutions (“MDIs”), and Certified Development Companies (“CDCs”). With these, you may be able to find a financial institution who may still be able to take your application at this time.
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