Understand changes to your Square Line of Credit
About changes to Square Line of Credit
Square is phasing out the Line of Credit product in 2025 to better align our offerings with evolving seller needs. We’re here to support you through this transition to ensure you have the information you need to plan accordingly.
Contact us if you have any questions or need assistance.
Before you begin
Here’s how this change impacts your existing Square Line of Credit:
Square is making changes to your repayment terms pursuant to section 6A of your agreement. These changes affect your existing balance owed, as well as how and when it’s repaid.
Your remaining balance will be converted into a 10-month repayment plan with fixed equal installments. Your new repayment terms allow you to make monthly payments until the balance is fully paid off at the end of the 10-month repayment plan.
Unless otherwise notified, your Line of Credit will remain active for repayment only until the payoff date between June 1 and August 1, 2026.
You can pay off your remaining balance early. There is no penalty for early repayment.
Fees or interest won’t accrue as you repay your balance. The waiver of accrued interest may constitute taxable income to you, depending on your individual circumstances. It is your responsibility to calculate, report and pay any taxes arising from the waiver of interest. Square does not provide tax advice and we recommend that you consult with your tax advisor regarding your individual tax situation.
View updated Line of Credit information
Sign in to Square Dashboard and go to Banking.
Click Overview and select your Line of Credit account.
Click the Documents tab to view your Line of Credit documentation.
Click on any of your documents to download them to your device.
View your account activity
Sign in to Square Dashboard and go to Banking.
Click Overview and select your Line of Credit account.
Click the Activity tab to view your Line of Credit account activity.