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... Mehr ansehen
Unternehmen hat geantwortet
Wir überprüfen keine spezifischen Behauptungen, da die Meinungen der Bewerter ihre eigenen sind. Wir können Bewertungen jedoch als „verifiziert” kennzeichnen, wenn wir bestätigen können, dass eine geschäftliche Interaktion stattgefunden hat. Mehr erfahren
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Das sagen Bewerter
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... Mehr ansehen
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... Mehr ansehen
Unternehmen hat geantwortet
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... Mehr ansehen
Unternehmen hat geantwortet
3,5
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Pros and cons
Having the extra capital is very beneficial. However, if you depend on new offers or more capital keep in mind their algorithm is not consistent. Receiving a new offer anywhere from 60-100% repaid on your current loan leaves a lot of businesses in financial turmoil just waiting for their next loan. We have a steady and high cash flow with my business so we don’t have to wait for offers, but on the square forum a lot of businesses struggle in waiting for another offer. It’s great for stable businesses who just occasionally need additional cash flow. The dashboard is easy to use, but the customer service is very automated and give generic responses. Best of luck!
4. August 2023
Bewertung ohne vorherige Einladung
Antwort von Square Loans
We greatly appreciate your feedback. To help ensure you get an offer that’s just right for your business, Square Banking reviews accounts on an ongoing basis. The formula balances various different factors of your business that may positively and negatively affect your eligibility for an offer. Offers are based on many business factors including, but not limited to, your current payment processing volume, your customer mix, and your Square account history. Please be aware that aspects of your processing history, such as failed debits, chargeback history, and changes to your processing behavior may impact your eligibility for any potential future offers.
Please be assured that we’ll continue to monitor your account and notify you directly through your Square Dashboard and via email if you become eligible for a Square Loan.
Square capital is great but I wish they…
Square capital is great but I wish they would let you know when you would qualify for additional funds especially when you’re paid off at 90% or more on your loan as they would normally offer you more funds between 60 and 80% paid off but their loans really do help my small business out!
4. August 2023
Bewertung ohne vorherige Einladung
Antwort von Square Loans
We greatly appreciate your feedback. New offers aren't automatically extended when a certain percentage of an existing loan is repaid, but your business may become eligible for a new offer when your existing plan is closer to being repaid. This timing helps to ensure a significant portion of a new loan can be used to reinvest in your business directly rather than repaying your existing loan balance. However, keep in mind that we can't guarantee another offer will be extended before or after the current plan is complete. Repaying your existing plan does not guarantee that your business will be eligible for another offer. Eligibility is based on many factors including your processing volume and Square history. Please know that we are continually reevaluating your account on a daily basis to determine if you're eligible to receive another loan. If you become eligible for a new loan, we'll notify you directly on your Square Dashboard and via email, so be sure to keep an eye out!
What’s the deal?!
I have been using Square since 2018 for my small business. They are a little pricier than some other processors on the market. One reason I’ve stayed is because of their great capital program. They have helped my business grow over the years. However, as of late I feel that the transparency is not there. Even when we check all the boxes. There are many sellers with the same concerns. Hopefully they start answering some of the sellers concerns on the forum.
4. August 2023
Bewertung ohne vorherige Einladung
Antwort von Square Loans
Thanks for your feedback. Please know that we're constantly working to improve our products and services based on the feedback we receive from customers. You're able to gain more insight into the status of your business's Square Loans eligibility by using the eligibility page located in your Square Dashboard. The information shown on your eligibility page is usually refreshed in real time. We take your business’s data and compare it to key factors that determine eligibility, e.g. processing volume, payment frequency, and account activity. If any of your eligibility factors need work, we provide tips on how to strengthen your chances of becoming eligible. But keep in mind that there are several factors that may affect your eligibility, and accounts are evaluate as a whole. We can't promise a loan offer, even when all of the factors on the eligibility page are “Good.” If you become eligible, we'll notify you directly on your Square Dashboard and via email.
When ?
The entire system is pretty user friendly and having the option of a loan is phenomenal and so helpful. The lack of being able to ask for a offer or know when you may receive one is so frustrating. I’ve received multiple offers in the last 4 years more so recently due to major increase in sales which in turn has doubled my offer amounts BUT at random times. I’m currently waiting and feel lost as to when to expect it.
4. August 2023
Bewertung ohne vorherige Einladung
Antwort von Square Loans
Thank you for providing your feedback. We automatically look at many factors about your business that we already have to assess your eligibility, including the payments you process through Square and your history working with us. You do not need to contact us or provide any additional information to become eligible for a loan offer.
In the meantime, we recommend using the eligibility page located in your Square Dashboard to gain more insight into the status of your Square Loans eligibility. We take your business’s data and compare it to key factors that determine eligibility. If any of your eligibility factors need work, you can look at the tips we provide to strengthen your chances of becoming eligible. Please note that we cannot promise a loan offer, even when all of the factors on the eligibility page are “Good.” There are many factors that may affect your eligibility, and accounts are evaluated as a whole. If you become eligible, you’ll be notified directly on your Square Dashboard and via email.
I have had 4 square loans
I have had 4 square loans. I am on my 5th always paid off early still no offer. We normally have gotten a offer a lot sooner. I wish we could know when to expect it instead of hoping. Just wish they would update this.
2. August 2023
Bewertung ohne vorherige Einladung
Antwort von Square Loans
Thanks for your feedback! Square accounts are automatically reviewed daily to determine eligibility. Offers are based on several business factors including, but not limited to, your current payment processing volume and Square account history. However, keep in mind that we can’t guarantee that another offer will be extended before or after the current plan is complete. Repaying your existing plan does not guarantee that your business will be eligible for another offer. If you become eligible again, we’ll notify you directly through your Square Dashboard and via email.
No blue dot
Square has been great with the loan program helped our business grow paying off our 5th loan at 76% just waiting for new loan offer everything is green you just never know when an offer will come that’s the only part needs improvement
21. Juni 2023
Bewertung ohne vorherige Einladung
Antwort von Square Loans
We appreciate your feedback. New offers aren't automatically extended when a certain percentage of an existing loan is repaid, but your business may become eligible for a new offer when your existing plan is closer to being repaid. This timing helps to ensure a significant portion of a new loan can be used to reinvest in your business directly rather than repaying your existing balance. However, please keep in mind that we can't guarantee another offer will be extended before or after the current plan is complete. Repaying your existing plan doesn't guarantee your business will be eligible for another offer.
Additionally, it sounds like you're also referencing the Square Loans eligibility page. The eligibility page takes your business's real time data and compares it to key factors that determine eligibility. However, keep in mind that many factors may affect your eligibility, and Square accounts are evaluated as a whole. We recommend not relying on the information provided on the Square Loan eligibility page to predict a loan offer. We can't promise a loan offer, even if all of the factors on the eligibility page are "Good." If you become eligible, you’ll be notified directly on your Square Dashboard and via email. To learn more about Square Loan eligibility, please visit our Support Center: https://squareup.com/help/us/en/article/6454-square-capital-eligibility-faqs
Works great when they actually provide offer!
The loan has worked well but there is little to no communication on when another offer will be available. All of our stats are in the green and we've paid off both of our loans extremely fast, one for 67,000 and one for 101,000 both paid within 8 months, and we have yet to recieve another offer for almost two months ongoing. They provide no guidance as to what we need to fix to become eligible.
21. Juni 2023
Bewertung ohne vorherige Einladung
Antwort von Square Loans
Thanks for providing your feedback. The eligibility page was built to help sellers gain insight into the status of their Square Loans eligibility by taking your business's real time data and comparing it to key factors that determine eligibility. However, please note that there are several factors that may affect your eligibility, and accounts are evaluated as a whole. We recommend not relying on the information provided on the Square Loan eligibility page to predict a loan offer. We cannot promise a loan offer, even if all of the factors on the eligibility page are "Good." If you become eligible, you’ll be notified directly on your Square Dashboard and via email. Check out our Support Center to find out more about Square Loan eligibility: https://squareup.com/help/us/en/article/6454-square-capital-eligibility-faqs
Don’t do it!!
Don’t do it!!! What a nightmare….
I sent an overnight, $58,0000, signature receipt loan payoff cashiers check from my bank on 04/25/2023. It was signed for on 04/26/2023 and my bank received notice that it had cleared on 04/27/2023. Sixteen days later they have still not paid off the loan, and…. are still charging us 20% and….now THEY owe back us thousands! I contacted an attorney today in NY, where the check was cashed to resolve this. The square up website says 5 days after a third party payoff check is received, save yourself a lot of lost sleep that is unless you happen to be an attorney! I can’t begin to imagine how long it will take to get my refund. I’m not going away but it’s definitely time to let someone else deal with this company. Steer clear, I wish I had!
12. Mai 2023
Bewertung ohne vorherige Einladung
Antwort von Square Loans
Thank you for providing your feedback. We're sorry to hear about your experience. We are constantly working to improve the products and services based on the feedback we receive from customers. Please know that a member of our team will be reaching out to you shortly.
Square loans have helped our business through the years!
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 the money is in your account within 24 hours. We send invoices and take payments through Square. Our yearly processing volume is in "good" status and projected grouth within the next year showing on the rise! if you are looking for a convenient, no red tape small business loan we recommend Square.
6. April 2023
Bewertung ohne vorherige Einladung
Antwort von Square Loans
Thanks for your feedback. We're excited to hear about your business's growth with Square! Square Loan offers are based on several factors including, but not limited to, your current payment processing volume and your Square account history. While we don't have a specific timeframe as to when a new offer may be available, please know that we're continually reviewing your account to determine if you're eligible to receive another offer. If your business becomes eligible, you'll be notified directly on your Square Dashboard and via email so keep an eye out!
Awesome
I had been seeing loan offers in my dashboard and ignored them for a few months, until business was slow and I decided to take them up on their offer. I applied and to my surprise I had the money in my bank account within 24 hours. It has been a very positive experience for me so far and I will continue to encourage others to use them!
17. Januar 2023
Bewertung ohne vorherige Einladung
Antwort von Square Loans
Thanks for providing your feedback! We are thrilled to hear about your experience with the Square Loans program so far. We hope you continue growing your business with Square and share more of your feedback with us.
High fees rude and terrible customer…
High fees rude and terrible customer service. They block you they deactivate you. They do any kind of ugly things that you will regret later.
This is friendly reminder for all fellow business owners .
10. März 2023
Bewertung ohne vorherige Einladung
Antwort von Square Loans
We appreciate your feedback. Please know that we're constantly working to improve our services and products based on the feedback we receive from customers. Please contact us directly so that we can investigate the issues you are experiencing further: https://squareup.com/help/us/en/contact?panel=FAB456B04971
High payback rate will strangle you
The interest rate is decent, it is the very high % of daily sales which will strangle your business. You will pay back quickly if you don’t run yourself out of business before that happens. Low profit businesses should stay away. They need to re-think pay back timelines (I would recommend 4x in length)
4. März 2023
Bewertung ohne vorherige Einladung
Antwort von Square Loans
Thank you for providing your feedback. A member of our team will be reaching out to you shortly.
Not bad fro the first time loan
Not bad fro the first time loan. When do you get approved for a second loan?
13. Februar 2023
Bewertung ohne vorherige Einladung
Antwort von Square Loans
Thanks for providing your feedback! Offers are based on many business factors including, but not limited to, your current payment processing volume, your customer mix, and your Square account history. Please know that we cannot predict if or when your business may receive another offer for a Square Loan; however, if your business becomes eligible, you'll be notified directly on your Square Dashboard and via email.
I have a small cafe I got my first loan…
I have a small cafe I got my first loan from them in oct 2022 the process was very fast I love that they take out everyday, Being very busy I don't have to worry about being late I will definitely be letting my business friends know about square I love them they helped when no one else would.
Praying I get my second soon.
26. Dezember 2022
Bewertung ohne vorherige Einladung
No contraten esta plataforma
Hay que ser cinicos para contestarme que han cerrado la cuenta por incumplir formas de pago... haber seňores dejen de mentir, no me han aclarado para nada porque me han cerrado la cuenta y no tengo ningun email que le lo halla explicado, lo que si se es que llevan un mes y medio retenienfome dos dias enteros de facturacion, mas de 20.000 euros despues de haber sufrido un bloqueo anterior y de hanermelo desbloqueado al presentar la documentacion. No hay ninguna justificacion para que me retengan por la cara 90 dias mi dinero y la estupidez esa de devolver al cliente el dinero, saben uds. que como cualquier, restaurante, bar, sala de fiesta, discoteca... cobramos las comidas y bebidas pero no pedimos copia del pasaporte ni documentacion alguna y menos guardamos sus datos. A mi que me cierren la cuenta es una tonteria me da igual pero que se queden con mi dinero no! Maldita la hora que contrate sus servicios
12. Oktober 2022
Bewertung ohne vorherige Einladung
Antwort von Square Loans
We're sorry to hear about your experience. Please know that we're constantly working to improve our services based on the feedback we receive from customers. If you have feedback on how we can improve, please let us know: https://squareup.com/help/us/en/contact?panel=FAB456B04971
The ease of use is the only good thing
The ease of use is the only good thing. The effective interest rate is awful, especially considering they are guaranteed to get their money back usually faster than a normal loan.
21. September 2022
Bewertung ohne vorherige Einladung
Antwort von Square Loans
Thanks for your feedback. At this time, Square Loans have no ongoing interest charges. It sounds like you may be referring to the repayment rate, which is the percentage of your card processing that is deducted for your loan payments. Please know that offer terms are based, in part, on your business’s most current processing activity.
I have gotten four loans from Square…
I have gotten four loans from Square and have used them to grow my business, I have a restaurant and them taking the money daily is fine I don’t have to worry about missing a payment or late fees, and to top it off most small business would not be eligible to get a loan from any where else, and they let you jump through hoops only to tell you your not qualified. So please give SQUARE the credit they deserve!! Your loan amount is based on your processing volume when you have their POS system. And I will say I will recommend SQUARE AND I HAVE RECOMMENDED THEM TO ALL MY SMALL BUSINESS Colleagues.
Thank you Square and I look forward to keep doing business with them for many years to come.
31. August 2022
Bewertung ohne vorherige Einladung
Im switching the whole POS
Im switching the whole POS. After 8 years of working with Square scammers, and taking and paying off 8 loans, these day robbers denied my loan, because , you see, I have been using my own credit card, so it was considered cash advances. So what? I had no idea that was “wrong” to do so. All of sudden they changed the rules out of some kind of ethical impulse?? Also very poor communication and customer service. I called to check why is my loan taking a week to be approved and they said all is fine and should be getting my funds tomorrow. So, anyways, my advice is go for SBA loan, if you can . It takes more time and efforts but is worth it. If you get square, dont pay it off quickly, encourage your customers to pay with check or venmo so the square b*tches will have to wait longer for their money
30. August 2022
Bewertung ohne vorherige Einladung
Antwort von Square Loans
We're sorry to hear about your experience but appreciate your feedback. Please know that we’re constantly working to improve our products and services based on the feedback we receive from customers. The review process may have changed from any previous loan application reviews due to regulatory requirements. Square Loan applications are reviewed on a case-by-case basis and it's a part of our due diligence process to confirm some of the details of your application. If your business becomes eligible for another offer again, you will see loan offers in your Square Dashboard.
Good service been getting loans for…
Good service been getting loans for years but the new one I put it's taking long like 7 days no denial or approval
21. August 2022
Bewertung ohne vorherige Einladung
Antwort von Square Loans
Thanks for providing your feedback. Please know that Square Loan applications are reviewed on a case-by-case basis. Due to regulatory requirements, the review process may have changed from any previous Square Loan application reviews. It's part of our due diligence process to confirm some of the details of your application.
Very disappointed in Square after…
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 info they asked for. Some sort fragmented lack of communication within the organization I guess. Meanwhile I have to scrap the next step of my business plan. Thanks Square...poor timing.
7. August 2022
Bewertung ohne vorherige Einladung
Antwort von Square Loans
Sorry to hear about your experience but thanks for providing your feedback. We'll need more information in order to understand this better. Please contact us directly so that we can investigate this issue further: https://squareup.com/help/us/en/contact?panel=FAB456B04971
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