Cancelling Your Application or Loan Through Square Capital
You can cancel an application for a loan through Square Capital at any time during the review process. Once your application is approved, you can cancel the loan within two business days after the time your loan has been approved.
Cancelling Your Loan Application While It Is Still Processing
To cancel your pending loan application, please contact us directly.
Cancelling Your Loan Within Two Business Days After It Has Been Approved
If you need to cancel your loan through Square Capital after it has been approved, you can do so within two business days after the time of approval. Once you request cancellation of your loan, any funds that have been extended will be withdrawn from your linked bank account. Your loan will not be deemed cancelled if the debit to your linked bank account is unsuccessful.
Here are the steps to cancel your loan after approval:
Navigate to the Capital Tab of your Square Dashboard.
Click Actions > Cancel Plan in the upper-right corner.
Numbers are for illustrative purposes only.
Cannot Cancel More Than Two Business Days After Loan Approval
You’ll be unable to cancel your loan after two business days of your loan being approved. At this point, your business will be responsible for the entire loan amount, including the fixed fee. Pay off your loan with convenient automatic deductions from your daily card sales or by making prepayments through your Square Dashboard. View Paying Back Your Loan Through Square Capital Early for more information about how to make a prepayment.