Apply for a loan
About applying for a loan
Square Loans provide access to funds to help you grow your business. Because each individual business is unique, eligible Square sellers are extended loan offers that are personally tailored and customized. Square Loans can be used to increase inventory, buy equipment, hire more employees or whatever you need to help your business grow and succeed.
Before you begin
Square Loans offers are based on a variety of factors related to your business, including payment processing volume, account history and payment frequency. Accounts are reviewed on a daily basis and you’ll be notified if your business is eligible.
Applications generally take 1–2 business days to review. However, review may take longer if additional information is requested. You’ll be notified via email for application status updates or if additional information is needed.
After submitting a loan application, we can’t change the loan offer amount.
Once a loan application is approved, you’ll receive funds in your linked bank account in 1–3 business days, depending on your bank’s processing speed.
You can become eligible for additional loan offers while paying off your current plan, called a Mid-Plan Offer (MPO), or once you’ve repaid your first loan. If you are eligible for another loan, you’ll follow the same process to accept and pay back your loan.
Applying for a Square loan doesn’t affect your credit score. Square doesn’t require loan collateral, and a personal guarantee isn't required. However, Square can provide a letter of completion after full repayment of your loan.
Apply for a loan
Sign in to Square Dashboard and go to Money > Loans to view your loan offer.
Click and drag the slider bar to select the loan amount that’s right for your business. As you slide across different loan amounts, the fee and repayment rate will adjust accordingly. The lower the loan offer size you select, the lower the percentage of daily card sales are used to repay your loan.
Complete the application by confirming your personal and business information that was provided when setting up your Square account. For corporations and partnerships, you’ll be prompted to provide your business information for verification purposes.
Review and select I accept to submit your application and accept the terms of your loan.
Once you’ve submitted your application, your request is sent over to our team for review. If additional information is requested from you during the review process, you’ll be notified in your Square Dashboard and via email. We will notify you via email when there is a status update on your application.
Download your loan agreement
Sign in to Square Dashboard and go to Money > Loans to view your loan offer.
Click the three dots on the top right corner of your plan details.
Select Download loan agreement.
A PDF of the loan agreement will open in a new tab within your browser.