Cancel your loan application

Who is this article for?

Only account owners can apply for and manage a loan.

Square loan applicants.

About cancelling your loan application

You can cancel a Square loan application at any time during the review process. Once your application is approved, you can cancel the loan within two business days of loan origination.

Before you begin

Once your loan is approved, your business is responsible for the entire loan amount, including the fixed fee. You can pay off your loan with convenient automatic deductions from your daily card sales or by making prepayments from Square Dashboard.

All loans are issued by Square Canada, Inc. Actual fee depends upon payment card processing history, loan amount and other eligibility factors. A minimum payment of 1/18th of the initial loan balance is required every 60 days, and full loan repayment is required within 18 months. Offer eligibility is not guaranteed. All loans are subject to approval. Not available in Quebec. Terms and conditions apply.