This helps keep your information and identity safe. Don’t worry — if you need to view your Square Capital account again, enter the email address you provided in your loan application and we’ll send you a new unique link.
After accepting the loan, you’ll see your total as the Loan Amount plus the Loan Fee. It’s paid back over six months in fixed, monthly payments. Any applicable Unpaid Late Fees will need to be fulfilled as well.
On each scheduled monthly payment date, Square Capital will automatically debit your payment from the bank account provided in the application. The scheduled monthly repayment date is non-adjustable and defined in your loan agreement.
While your total amount owed will decrease — making an early additional payment does not modify your upcoming scheduled payment. The only exceptions are: (1) if you prepay the total remaining balance or (2) if the total remaining balance is less than your next scheduled payment amount — in which case, your next scheduled payment amount will equal your outstanding balance.
If you can’t pay on time, contact us immediately. We can help you get back on track.
If your scheduled payment fails, you’ll see the Past Due Amount in red under Loan Details. If you miss a scheduled payment, you won’t get charged a late fee for a full month. After that, a 2% late fee will be applied monthly to any past due amount. You’ll also see Unpaid Late Fees in red under Loan Details.
If you need to cancel your loan after it has been approved, you can do so within two business days after the time of approval.
If you choose to cancel your loan, your full loan amount will be debited from your linked bank account. Please make sure you have the funds available for this debit. You won’t be charged the loan fee (as long as the debit is successful).