diff --git a/backend/scripts/backfill-loan-amount.ts b/backend/scripts/backfill-loan-amount.ts
new file mode 100644
index 0000000000..5ee5671292
--- /dev/null
+++ b/backend/scripts/backfill-loan-amount.ts
@@ -0,0 +1,125 @@
+import { runScript } from 'run-script'
+import { log } from 'shared/utils'
+import { createSupabaseDirectClient } from 'shared/supabase/init'
+import yargs from 'yargs'
+import { hideBin } from 'yargs/helpers'
+import { MINUTE_MS } from 'common/util/time'
+
+const MAX_RETRIES = 5
+if (require.main === module) {
+  const argv = yargs(hideBin(process.argv))
+    .option('timeout', {
+      alias: 't',
+      description: 'Timeout in seconds for the database connection',
+      type: 'number',
+      default: 10 * MINUTE_MS,
+    })
+    .help()
+    .alias('help', 'h')
+    .parse() as { timeout: number }
+
+  runScript(async () => {
+    let retries = 0
+    const runBackfill = async () => {
+      const pg = createSupabaseDirectClient()
+
+      for (const range of ranges) {
+        log(`Processing range ${range.start} to ${range.end}`)
+        await pg.timeout(argv.timeout, async (t) => {
+          await t.none(
+            // Works bc contract_bet_populate_cols reads from the data blob and sets the column
+            `update contract_bets
+             set bet_id = bet_id
+             where bet_id >= $1
+               and ($2 is null or bet_id < $2)
+               and loan_amount is null
+               and data ->> 'loanAmount' is not null`,
+            [range.start, range.end]
+          )
+          log(`Converted ${range.start} to ${range.end}`)
+        })
+      }
+    }
+
+    while (retries < MAX_RETRIES) {
+      try {
+        await runBackfill()
+        break // If successful, exit the retry loop
+      } catch (error) {
+        retries++
+        log(`Attempt ${retries} failed`)
+        if (retries >= MAX_RETRIES) {
+          log(`Max retries (${MAX_RETRIES}) reached. Script failed.`)
+          throw error
+        }
+        log(`Retrying in a 5 seconds...`)
+        await new Promise((resolve) => setTimeout(resolve, 5000))
+      }
+    }
+  })
+}
+
+const ranges = [
+  { start: '0', end: '1' },
+  { start: '1', end: '2' },
+  { start: '2', end: '3' },
+  { start: '3', end: '4' },
+  { start: '4', end: '5' },
+  { start: '5', end: '6' },
+  { start: '6', end: '7' },
+  { start: '7', end: '8' },
+  { start: '8', end: '9' },
+  { start: '9', end: 'A' },
+  { start: 'A', end: 'B' },
+  { start: 'B', end: 'C' },
+  { start: 'C', end: 'D' },
+  { start: 'D', end: 'E' },
+  { start: 'E', end: 'F' },
+  { start: 'F', end: 'G' },
+  { start: 'G', end: 'H' },
+  { start: 'H', end: 'I' },
+  { start: 'I', end: 'J' },
+  { start: 'J', end: 'K' },
+  { start: 'K', end: 'L' },
+  { start: 'L', end: 'M' },
+  { start: 'M', end: 'N' },
+  { start: 'N', end: 'O' },
+  { start: 'O', end: 'P' },
+  { start: 'P', end: 'Q' },
+  { start: 'Q', end: 'R' },
+  { start: 'R', end: 'S' },
+  { start: 'S', end: 'T' },
+  { start: 'T', end: 'U' },
+  { start: 'U', end: 'V' },
+  { start: 'V', end: 'W' },
+  { start: 'W', end: 'X' },
+  { start: 'X', end: 'Y' },
+  { start: 'Y', end: 'Z' },
+  { start: 'Z', end: 'a' },
+  { start: 'a', end: 'b' },
+  { start: 'b', end: 'c' },
+  { start: 'c', end: 'd' },
+  { start: 'd', end: 'e' },
+  { start: 'e', end: 'f' },
+  { start: 'f', end: 'g' },
+  { start: 'g', end: 'h' },
+  { start: 'h', end: 'i' },
+  { start: 'i', end: 'j' },
+  { start: 'j', end: 'k' },
+  { start: 'k', end: 'l' },
+  { start: 'l', end: 'm' },
+  { start: 'm', end: 'n' },
+  { start: 'n', end: 'o' },
+  { start: 'o', end: 'p' },
+  { start: 'p', end: 'q' },
+  { start: 'q', end: 'r' },
+  { start: 'r', end: 's' },
+  { start: 's', end: 't' },
+  { start: 't', end: 'u' },
+  { start: 'u', end: 'v' },
+  { start: 'v', end: 'w' },
+  { start: 'w', end: 'x' },
+  { start: 'x', end: 'y' },
+  { start: 'y', end: 'z' },
+  { start: 'z', end: null },
+]
diff --git a/backend/shared/src/get-user-portfolio-internal.ts b/backend/shared/src/get-user-portfolio-internal.ts
index 6d484e6ddf..576aca7769 100644
--- a/backend/shared/src/get-user-portfolio-internal.ts
+++ b/backend/shared/src/get-user-portfolio-internal.ts
@@ -21,8 +21,7 @@ export const getUserPortfolioInternal = async (userId: string) => {
 
   // Based off of getMetricRelevantUserBets in update-user-metrics-core.ts
   const unresolvedBets = await pg.map(
-    `select outcome, amount, shares, cb.contract_id, answer_id,
-    (cb.data->>'loanAmount')::numeric as loan_amount
+    `select outcome, amount, shares, cb.contract_id, answer_id, loan_amount
     from contract_bets as cb
     join contracts as c on cb.contract_id = c.id
     left join answers as a on cb.answer_id = a.id
diff --git a/backend/shared/src/resolve-market-helpers.ts b/backend/shared/src/resolve-market-helpers.ts
index 21042097f6..3f2cb1ab4c 100644
--- a/backend/shared/src/resolve-market-helpers.ts
+++ b/backend/shared/src/resolve-market-helpers.ts
@@ -311,7 +311,8 @@ export const getDataAndPayoutInfo = async (
     bets = await pg.map(
       `select * from contract_bets
       where contract_id = $1
-      and (shares != 0 or (data->>'loanAmount')::numeric != 0)`,
+      and (shares != 0 or loan_amount != 0)
+      `,
       [contractId],
       convertBet
     )
diff --git a/backend/shared/src/supabase/bets.ts b/backend/shared/src/supabase/bets.ts
index dccbf9f957..2f782b0bbd 100644
--- a/backend/shared/src/supabase/bets.ts
+++ b/backend/shared/src/supabase/bets.ts
@@ -83,9 +83,7 @@ export const getBetsWithFilter = async (
     filterRedemptions && where('is_redemption = false'),
 
     !includeZeroShareRedemptions &&
-      where(
-        `(shares != 0 or is_redemption = false or (contract_bets.data->'loanAmount')::numeric != 0)`
-      )
+      where(`(shares != 0 or is_redemption = false or loan_amount != 0)`)
   )
 
   const query = renderSql(
diff --git a/backend/shared/src/update-user-metrics-core.ts b/backend/shared/src/update-user-metrics-core.ts
index 564d26f853..59465c75ee 100644
--- a/backend/shared/src/update-user-metrics-core.ts
+++ b/backend/shared/src/update-user-metrics-core.ts
@@ -405,7 +405,7 @@ const getUnresolvedOrRecentlyResolvedBets = async (
 ) => {
   const bets = await pg.map(
     `
-    select cb.amount, cb.shares, cb.outcome, cb.data->'loanAmount' as "loanAmount", cb.user_id, cb.answer_id, cb.contract_id, cb.data->'createdTime' as "createdTime", cb.is_redemption
+    select cb.amount, cb.shares, cb.outcome, cb.loan_amount, cb.user_id, cb.answer_id, cb.contract_id, cb.data->'createdTime' as "createdTime", cb.is_redemption
     from contract_bets as cb
     join contracts as c on cb.contract_id = c.id
     left join answers as a on cb.answer_id = a.id
diff --git a/common/src/supabase/bets.ts b/common/src/supabase/bets.ts
index 92b97a8eb4..b7d876c5c1 100644
--- a/common/src/supabase/bets.ts
+++ b/common/src/supabase/bets.ts
@@ -11,7 +11,6 @@ export const convertBet = (row: Row<'contract_bets'>) =>
     updated_time: false,
     created_time: tsToMillis as any,
     answer_id: (a) => (a != null ? a : undefined),
-    loan_amount: false,
   })
 
 export async function getTotalBetCount(contractId: string, db: SupabaseClient) {