Square Capital provides access to loans to help you grow your business. You can use Square Capital to increase inventory, buy equipment or hire more employees, whatever you need to help your business grow and succeed.

When Square Capital was first made available, it was an MCA (merchant cash advance). Providing an MCA was the fastest way for Square to get started and provide capital to Square merchants and help them grow their businesses.

Now, Square Capital is a loan product with all the same benefits as before:

  • There is still no application.
  • Funds are deposited in your bank account as soon as the next business day.
  • Repayment occurs as a fixed percentage of your daily card sales and the total amount owed never changes.

Also, loans through Square Capital have an early repayment option, giving you even more repayment flexibility with no penalty. All Square Capital loans are issued by Celtic Bank, a Utah-Chartered Industrial Bank, Member FDIC.

Be sure to review your loan agreement for your specific terms.

Square Capital Eligibility

You may be eligible to apply for a loan through Square Capital if you’re an active Square merchant running your business with Square. If you’re eligible to apply, you’ll be presented with Square Capital loan options and terms in your online Square Dashboard and you’ll see a View Your Options link on the Square Capital page. We’ll also send you an invitation email to the address associated with your Square account.

For additional information on your Square Capital Eligibility and the application process, visit our Application page.

Enroll in Square Capital

If you’re eligible for a loan through Square Capital, you can enroll in Square Capital by selecting one of the Square Capital loan options in your online dashboard. If you decide to select an option, Square will then review your request on behalf of Celtic Bank. Upon final approval, your loan funds will be deposited to the bank account linked to your Square account as soon as the next business day.

Square Capital Repayment

Pay a Fixed Daily Percentage

This it how it works: Once you receive final approval, your Capital loan funds will be deposited into your bank account upon final approval. With each deposit, in addition to Square’s normal card processing fees, a percentage of your daily gross sales go towards paying back your outstanding loan through Square Capital each day.

You’ll repay your loan automatically from a percentage of your daily card sales – paying more when business is strong and less if things slow down. The total amount owed never changes.*

Your business will receive a custom loan offer based on your activity with Square. When you accept an offer, you’ll make payments from a fixed percentage of your daily credit card sales until your loan amount has been repaid in full**.

For a detailed breakdown of Square Capital’s repayment schedule, check out our Repayment Page.

Submit Prepayment

If you’d like to pay back your loan through Square Capital early, either partially or in one lump sum, you can do so from your Dashboard. If you choose to fully repay your loan, Square will debit your linked bank account for the full outstanding balance. If you’d like to pay a portion back, you can choose how much you’d like to pay back. If you’d like to change or edit your linked bank account, visit Bank Account in your online Square Dashboard.

There is no fee for paying the loan back early.

Note: The ability to make prepayments is not available on most plans accepted prior to March 24th, 2016. If the option to make a prepayment is not available via Dashboard please refer to your current Square Capital agreement (section 3.2) for terms of prepayment. Your current Capital agreement is viewable from the actions button in the Capital section of Dashboard.

Frequently Asked Questions About Square Capital

Is Square Capital a loan?

Yes – Square Capital provides access to a loan to help you grow your business. All loans through Square Capital are issued by Celtic Bank, a Utah-Chartered Industrial Bank, Member FDIC.

Can I select a different Square Capital option? 

Once you select an option and submit it for review, we’re unable to change the loan amount requested. If you need to, you can cancel your request within two business days of the loan approval date and re-submit.

Will I be eligible for another Square Capital loan in the future?

Once you pay off your loan, your account will automatically be re-evaluated to determine if you’re eligible to receive another loan through Square Capital.

If you’re eligible to apply for another loan, you’ll be notified via email and you’ll be presented a few Square Capital loan options and terms in your Dashboard.

For additional help with Square Capital, contact us.

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