I am writing to inquire about the possibility of cancelling my current loan with QB and taking out a new one for a higher amount and term.

Hey there, @reports-sherpaco. 

I appreciate you coming to the Community with your question about cancelling and taking out a new loan. 

You can have two loans with QuickBooks as long as you meet the requirements for the second one. Check out this guide for some additional information: Loans. 

In order to see if you're able to cancel the old loan and get a new one, you'll need to contact support for more details. Here's how: 

1. Go to the Help ? icon in the top right-hand corner. 
2. Tap the Contact Us option. 
3. Enter your question and hit let's talk. 
4. Scroll down and pick to Get a callback. 

Keep us updated on how the call goes. I'll be waiting for your response!