Get money for your business. Pay it back with your sales.
You could qualify for a loan when you switch your payment processing to Square.
Already selling with Square?
Loans and payments – all in one place
Get custom loan offers based on your unique sales data through Square.
Loans from £100 - £200,000
Big or small, a loan can keep your business moving. If you’re approved, see the funds in your account as soon as tomorrow.
One loan fee
Pay just one loan fee. This fee never changes and is paid back over the life of the loan. No late fees, ongoing interest or surprises.
Automatic repayment
Your loan is repaid with a percentage of your daily Square sales – pay less on slow days, and a little more when sales are strong. It all happens automatically, so you don’t have to think about making a payment.
Business owners deserve more credit
US$9B+
Funds extended*
460K+
Businesses funded
95%
Say business grew**
*Includes MCAs, SBA PPP loans, and business loans from May 2014 to March 2021.
**Based on an April 2019 survey of 5,655 respondents who have accepted a loan through Square Loans.
We make the switch simple
Our team of experts can help you set up your hardware and software, as well as connect existing apps and services, train your staff and answer any questions about loans from Square.
Loan fee
£1,325
Total owed
£11,325
Representative APR*
18.45%
Repaid with daily sales
17.25%
Maximum term
18 months
*APR means the fee expressed as an annual percentage over the maximum allowable payment period of 18 months. The loan may be repaid early based on daily card sales, so the equivalent rate may be higher. The representative APR is what we expect to offer 51% of approved sellers. Your actual APR may vary. You’ll never pay any interest or other fees, just the loan fee.
FAQ
We’ll let you know if your business is approved within a week.
Loan eligibility is based on a variety of factors related to your business. You need to have been in business for at least one year, make £200,000 or more in sales per location and have a history of minimal chargebacks with your current payments processor. We’ll also look at three months of your most recent processing statements to see how much money your business is eligible for. Once you apply for the loan and process payments on Square for a minimum of five days, get the money as soon as the next business day if you’re approved. All loans subject to credit approval; eligibility is not guaranteed.
Yes. Your business must process payments on Square for a minimum of five days before submitting your formal application. If approved, you’ll get the funds as soon as the next business day.
You can use the loan for any business-related expense. That could be stocking up on inventory, managing your cash flow, opening a new location or hiring staff – anything you’d like to do for your business.
You pay one fee to borrow the loan (we call it the loan fee). This fee never changes and is paid back over the life of the loan. No late fees, ongoing interest or surprises.
No, applying for a loan from Square doesn’t affect your credit score.
A loan from Square is designed to adjust with your daily cash flow. So, if you bring in £1,000 one day and your repayment rate is 16%, you pay off £160 of your loan. If you bring in £100 the next day, you pay off £16. And if you’re closed every Tuesday, you never make a payment on Tuesdays.
You must pay at least 1/18 of your initial loan amount every 60 days. If your daily card sales can’t cover it, we may debit the remaining minimum payment amount due from your Square-linked bank account.
It depends on your business’s sales, but most businesses pay back the loan within a year. You must pay at least 1/18 of your initial loan amount every 60 days. If your daily card sales can’t cover it, we may debit the remaining minimum payment amount due from your Square-linked bank account. You’ll have 18 months to pay the loan back.
All loans are issued by Squareup Europe Ltd., registered in England and Wales (no. 08957689), 6th Floor, One London Wall, London, EC2Y 5EB. 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. Terms and conditions apply.