Square Loans Reviews 

1,357
TrustScore 3 out of 5

2.9

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Rated 1 out of 5 stars

A lot of hidden fees they playing games send various email on loan amount when time to pay loan they take and add more fees do not recommend

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

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  1. Financial Institution

About Square Loans

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2.9

Average

TrustScore 3 out of 5

1k reviews

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2.9

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Rated 5 out of 5 stars

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.

7 June 2021
Square Loans logo

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.

Rated 5 out of 5 stars

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!

7 June 2021
Rated 5 out of 5 stars

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!

7 June 2021
Rated 5 out of 5 stars

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?

7 June 2021
Square Loans logo

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.

Rated 5 out of 5 stars

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

7 June 2021
Square Loans logo

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!

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