Last updated: November 2026
The best Square Loans alternatives are the products that do what Square Loans cannot: give you an offer when none appears in your Dashboard, size it on all of your revenue, or let you draw again without reapplying. For good credit, that usually means a line of credit from Bluevine or American Express. For fair credit and steady deposits, OnDeck, National Funding or Credibly. If you also sell through PayPal or Shopify, their programs work much like Square's. And if you can wait a few weeks, an SBA loan usually costs the least. Square's own terms and seven alternatives are compared below, checked in November 2026.
What Square Loans offer (checked November 2026)
- Amount: loan offers range from $100 to $500,000, depending on your business performance. Square looks at your time using Square, processing volume and frequency, customer mix and more.
- How you get one: by invitation. Square reviews accounts daily and contacts you by email and in your Square Dashboard if you are eligible. If no offer shows in your Dashboard, your business is not eligible at that time.
- Cost: no interest, just one flat loan fee, which is the difference between the total owed and the amount you borrow. Prepaying does not change the total, and Square adds no late fees.
- Repayment: a fixed percentage of your daily card sales, plus minimum payments listed on your offer. If card sales do not cover a minimum, Square may debit the shortfall from your Square balance or linked bank account.
- Credit and collateral: applying does not affect your credit score, according to Square. No collateral is required for loans of $100,000 or less; above that, Square may take a security interest and file a UCC statement, and it requires a personal guarantee for loans over $250,000.
- Speed and lender: funds arrive the next business day, or instantly into Square Checking. Loans are issued by Square Financial Services, Inc., a subsidiary of Block, Inc.
If you process steadily with Square and have an offer, it is one of the easiest ways to borrow. The alternatives below matter when you have no offer, need more, or want a different payment structure.
Who should look beyond Square Loans
- Sellers with no offer in the Dashboard. Square does not take applications outside its invitation process.
- Businesses where Square is only part of revenue. Cash, checks, ACH and other processors are invisible to a Square offer.
- Owners who want a reusable line. A Square loan is a lump sum; a line of credit can be drawn, repaid and drawn again.
- Owners who want a fixed payment. A share of card sales flexes, but the minimums still apply.
- Larger needs. Above $500,000, look at SBA loans, bank financing or real estate-backed funding.
Square Loans alternatives compared
| Option | Published amount | Published minimums | Repayment | Best fit |
|---|---|---|---|---|
| PayPal Working Capital | $1,000 to $250,000 (up to $400,000 for repeat borrowers) | PayPal Business or Premier account 90+ days; $15,000 or $20,000+ annual PayPal sales | A chosen share of PayPal sales; minimum every 90 days | Sellers who also take PayPal |
| Shopify Capital | Up to $2 million | Selling on Shopify for 90+ days; offers by invitation | A percentage of daily sales; 18-month maximum | Retailers who also sell on Shopify |
| Bluevine Line of Credit | Up to $250,000 | 625+ FICO, 12+ months, $10,000+ monthly revenue; corporations and LLCs only; not in NV, ND, SD | Weekly or monthly | A reusable line sized on all deposits |
| American Express Business Line of Credit | $2,000 to $250,000 at approval | 660+ FICO, business started 1+ year ago, $3,000+ average monthly revenue | 6-, 12-, 18- or 24-month installments; monthly fee 0.55% to 1.55% | Good credit, any entity type |
| OnDeck | Term loans up to $400,000; lines up to $200,000 | 625+ FICO, 1+ year, $100,000+ annual revenue; not in ND | Weekly or monthly; up to 24 months | Established businesses that need speed |
| Credibly | $5,000 to $600,000 | 500+ credit score, 6+ months, $15,000+ monthly revenue | Daily, weekly or, on some products, monthly | Lower credit scores with steady deposits |
| SBA 7(a) or SBA Express loan | Up to $5 million (7(a)); up to $500,000 (Express) | SBA eligibility plus each lender's credit standards | Monthly, up to 10 years for working capital | Lowest cost if you can wait |
Flat fee, interest or factor rate?
Square, PayPal and Shopify quote one fixed fee. Lines of credit charge interest or a monthly fee, and merchant cash advances use a factor rate. To compare them, convert each offer to the same two numbers: total payback in dollars and how quickly you repay it.
| Pricing format | Where you see it | What to ask |
|---|---|---|
| Flat loan fee | Square Loans, PayPal Working Capital, Shopify Capital | How long will repayment take at my usual sales? |
| Interest rate or APR | Bank loans, SBA loans, many lines of credit | Is the rate fixed or variable, and what fees are added? |
| Monthly fee on each draw | American Express Business Line of Credit | What is the fee as a percentage of principal for my term? |
| Factor rate | Merchant cash advances, some short-term loans | What is the total payback, and is there an early-payoff discount? |
Our guide to how much a merchant cash advance costs shows the conversion step by step, and what revenue-based financing is explains deposit-based underwriting. For reusable credit, see the business line of credit guide and our Bluevine alternatives guide. Selling on other platforms too? Compare PayPal Working Capital alternatives and Shopify Capital alternatives.
How FSE compares options from multiple lenders
Every lender above has its own credit box, and applying to them one at a time takes days and repeats the same paperwork. FSE (Funding Solutions Experts) is an independent commercial finance brokerage that works with 50+ lending partners across working capital, lines of credit, term loans, equipment financing, real estate-backed funding and merchant cash advances. You complete one application, and FSE compares what your business may qualify for across those partners, so you can weigh a Square-style flat-fee loan against lines of credit, term loans and revenue-based financing side by side on total cost, payment schedule and term.
- No fee to you. FSE never charges the business any fee; FSE is paid by commission from its funding partners.
- Minimums. At least 1 year in business and $10,000 or more in monthly revenue.
- No credit check to apply. FSE's application does not ask for your Social Security number and does not pull your credit. An individual lender may check credit later in its own process.
- No promises we cannot keep. Approval, amounts and terms are set by each lender, and no approval is guaranteed.
If your business meets those minimums, you can apply once with FSE and compare offers from multiple lenders.
Frequently asked questions
How do I get a Square loan offer?
Square Loans are offered by invitation. Square reviews your processing activity automatically and contacts you by email and in your Dashboard if you are eligible. If no offer appears, your business is not eligible at that time.
Does a Square loan affect my credit score?
Square says applying for Square Loans does not affect your credit score.
Does Square require a personal guarantee?
Square says it requires a personal guarantee for loans over $250,000, and may take a security interest in business assets for loans over $100,000.
What happens if my card sales drop?
You repay less each day, but minimum payments still apply. If daily card sales do not cover a minimum, Square may debit the remaining amount from your Square balance or linked bank account.
What is the best Square Loans alternative with no offer?
It depends on your credit and revenue. With good credit and a year in business, compare the Bluevine and American Express lines. With fair credit and steady deposits, compare OnDeck, National Funding and Credibly.
Sources
- Square Loans (amounts, eligibility, fees, repayment, collateral, guarantee, issuer)
- PayPal, PayPal Working Capital; Shopify Capital
- Bluevine Line of Credit; American Express Business Line of Credit; OnDeck; Credibly
- U.S. Small Business Administration, 7(a) loans
Provider details were checked in November 2026 and change often; confirm current terms with each provider before you apply. Inclusion is not an endorsement and does not mean a provider is part of FSE's network. Brand names belong to their owners; FSE is not affiliated with them.
Part of our Business Lines of Credit guide.
More in this guide