Grow your Business

Square Capital provides access to funding to help your business achieve its goals and grow. You can use Square Capital to increase inventory, purchase equipment or hire more employees, whatever you need to help your business grow and succeed.

With Square Capital, you can expect:

  • No hidden fees or lengthy applications
  • Upon approval, funds deposited in your bank account as soon as the next business day.
  • Repayment through a fixed percentage of your daily card sales in which the total amount owed never changes.

All loans through Square Capital are issued by Celtic Bank, a Utah-Chartered Industrial Bank, Member FDIC. Review the sections below to learn more about loan eligibility, enrollment, and repayment.

Square Capital Eligibility

You may be eligible to apply for a loan through Square Capital if you’re processing your payments with Square. If your business is eligible to apply, you’ll be presented with a loan offer and terms in the Capital tab of your Square Dashboard. We’ll also send you an email to the address associated with your Square account.

Here are some of the key eligibility factors for a loan through Square Capital:

  • Processing volume: In general, we look for businesses that have processed at least $10,000 or more in a year. So the more you process with Square, the better.
  • Recent payments: How recently have you taken a payment? One of our indicators is whether you’ve taken a payment at least once in the last week.

We also look at factors such as:

  • Your history with Square: Seeing your history with Square helps us spot trends and understand how your business might grow in the future.
  • Your activity level: Are you an active Square seller? The number and frequency of payments matters, too. If you take a bunch of payments often (say, every week), you’re more likely to get noticed.
  • Your customer mix: Do you have a mix of new and returning customers? A diversity of new and returning customers shows us that you’re growing in different ways. You can use Square’s analytics tools to get a grasp on your mix of customers.
  • Whether you have a healthy, growing business: The size of your loan offer can be correlated to your growth. The more you’re growing (and the speed at which you grow), the larger your loan offer.

If your business is not currently eligible, a loan through Square Capital may become available as you run and grow your business with Square. Visit our blog to learn more about how to become eligible for a loan through Square Capital.

To start running your business with Square, sign up for a Square account.

View Your Loan Offer and Apply

If you’re eligible for a loan through Square Capital, you can view your loan offers and terms in the Capital tab of your Square Dashboard. You can apply for Square Capital by selecting one of the Square Capital loan options in your online dashboard. If you decide to select an option, Square Capital will then review your request and upon approval, your loan will be deposited to the bank account linked to your Square account as soon as the next business day.

Be sure to review your loan agreement for your specific terms. Numbers are for illustrative purposes only.

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Square Capital Status

Upon approval, funds are deposited into your Square-linked bank account as soon as the next business day. You can then monitor your repayment progress or view daily loan payments in your online Square Dashboard.

repayment

Square Capital Repayment

Pay a Fixed Daily Percentage of Card Sales of Card Sales

Repayment is convenient. A fixed percentage of your daily card sales is automatically deducted to make your loan payments. The total cost of your loan does not change by making prepayments.

If you’d like to submit a partial or full prepayment towards your loan, you can do so from your Square Dashboard. Visit Paying Back Your Loan Early for more details.

Minimum Payment

One of the benefits of a Square Capital loan is flexible repayments – paying a fixed percentage of daily card sales allows you to pay more when your business is busy and less if things slow down. However, you’re required to pay at least 1/18 of your initial loan balance every 60 days so that you make consistent repayment progress. For more details, visit Square Capital Fees and Repayment Options.

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