Square Loans Reviews 1,359

**Review of Square's Loan Services**

I have been using Square for my business for 15 years now, and while I appreciate the platform's ease of use and support for transactions, my recent experience with their loan services has been incredibly disappointing and damaging to my business.

Having paid off at least four loans and currently sitting at 76% paid off on my existing one, I expected my loyalty and consistent payment history to be recognized. Unfortunately, despite my team's hard work in processing sales and reaching the necessary goals, I have yet to receive any loan offers from Square. This lack of support has not only hindered my growth but has also led to significant financial strain.

The ongoing withdrawals to pay off a loan that I've made substantial progress on are becoming a heavy burden. Each payment feels like it’s cutting deeper into my cash flow, making it hard to reinvest in my business or cover everyday expenses. It’s frustrating to see my efforts go unrewarded while Square seems unresponsive to my needs as a long-term customer.

In summary, the absence of loan offers after demonstrating reliability and commitment to repayment has severely impacted my business. I urge Square to reconsider their loan offering policies, particularly for loyal customers who have proven their creditworthiness. I hope to see improvements in the future so that other business owners do not have to endure the same struggles I have faced.

Date of experience: October 02, 2024

Square is a great support for my business through the years since 2015. They have helped my business grow tremendously in all aspects. I can’t thank them enough.

Date of experience: September 15, 2024

Square Loans has helped out my company multiple times. I am very satisfied with SquareLoans. You pay a one time fee (and get offers as you get closer to completing your loan).

I have been with Square since 2014 and do like using them for our business.

Date of experience: August 18, 2024

Square loans have allowed our business to grow with ease. The repayment system is awesome and reflects your good times and bad as we all have them. They are easy to deal with and easy to understand. Square loans support small business to expand and grow and our business has because of there understanding of the smaller businesses and gives them a go in life, not like the bigger banks who don't give the little people a go in life and they forget once sometime in life they started out as a small business also. Congratulations to the square team and your square loans to help the smaller business, keep up the good work

Date of experience: June 03, 2024

When it comes to loans from Square and their customer service, please be advised that most of the responses are copied and pasted. From my responses to the ones I’m reading online, They are all the same Even if they contact you It will be the same story. A bunch of representatives trained to tell you the same thing. I have increased $5000 from the previous year having a very small business. I have checked off all boxes. Everything is in good standing and every payment I have processed has been done with cards From my clients through square. I owe less on my current loan than I did on my last loan and still haven’t received a renewal. They say they can’t promise anything which is ridiculous. Facts are facts and if your business checks everything off and all is in good standing, there should be no reason why they cannot offer a loan. Normal banks would! I think it’s safe to say there is a hidden agenda. They want us to “keep processing” they say to better our chances of a new offer. It’s all about revenue for them! If This was untrue I’d have a loan already. By the way, don’t tell me you’re going to contact me unless you’re going to be contacting me with an offer. Thanks.

Date of experience: May 26, 2024

Very fast FROM THE TIME APPLICATION WAS COMPLETED and the funds were received. Received the funds three days after the application was transmitted. Danielle was an exceptional help in resolving the issue I had. Thank you, Danielle!!!

Date of experience: May 15, 2024

There have desactivated my account :Wakoherve24@gmail
and 2206€ of customer hold inside
They let me know they can’t process it to my bank ,only if I wait 150 days or I have the option to refund to customer card
Then I tried to refund to the card. They are telling me errors
SCAMMM
RUN FROM THEM

Date of experience: May 18, 2024

I’m happy to have the option of using a Square loans when I need them but I just wanted to put this feed back out there - today I made $400 total (250 & 150 payments) in Square sales and they took out their portion and my take home was 309!!! The payback ratio is way too high!! Ugh!! I can not wait to have this loan paid off. They are like loan sharks. Easy money… terrible payback terms. You find yourself further in the hole.

Date of experience: April 17, 2024

They have help my small business alot praying they go head and give me a new loan offer because my stove just went out
So hopefully I'll have one soon.

Date of experience: April 17, 2024

Very disappointing… I was very excited about the Square Loans. They were really helping my business it has been very hard getting a new offer. Even with business sales increasing and all my remarks are green. Customer service is NO help. We should be able to apply for more business funding loans…..!! Thinking about taking business over to PayPal

Date of experience: April 12, 2024

Gave us the much needed opportunity to update needed equipment & vendors. Very grateful for the great experience.

Date of experience: January 29, 2024

The best team that square has provided to us. Loan has help my barbershop improve in so many ways, such as buying tools and materials I love it and can’t wait to get other one soon

Date of experience: January 12, 2024

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 is very user friendly, and you are able to render your loan payment via daily sales and processing-making it a convenient and easy process. We recommend Square Loans for your short term business needs.

Date of experience: August 28, 2023

Square loans are AMAZING!! They pop up that you qualify for x amount and you simply apply and they direct deposit it to your account! It’s so easy to pay back too. You don’t need to “make” payments as a little bit just comes out of every transaction. I love the ease of all of it!! It’s so helpful to have a little extra cash for business expenses sometimes!

Date of experience: September 24, 2023

The process was very simple. I was at ease getting the loan. Automatically taking loan payments made the whole loan so easy. I needed supplies for my business. The funds were deposited into my account.

Date of experience: January 18, 2024

It has been a life saver and so easy to

Date of experience: January 18, 2024

What I love Most about the Square Loans? They are Easy, require simple, honest ways for re-paying. And Every Loan I get, they continue to grow my small business in many ways, always. I encourage all small business owners that use Square to take advantage of their loan offers & loan products. I know I always will because as my business continues to grow so will my loan needs. They're the only one I deal with. This is a great company with great products, great customer service & I couldn't have done so many of the things I needed to do without their help.

Date of experience: August 01, 2023

Date of experience: January 18, 2024

Definitely helped my business grow🙏🏻!! Easy payment/payback plan 🙏🏻🙏🏻

Very highly recommend 😎

Date of experience: January 31, 2023

Square loans are very reliable and easy to pay back only 17% or something like that of your daily sales so you don’t even feel stressed paying it back and it’s been very helpful to my business when you need cash starting in your business I’m very grateful for Square and I already have three loans so don’t hesitate to take the money if you need it square loan is a great opportunity to grow your business

Date of experience: January 18, 2024