Additional Square Capital Terms of Service

Last Updated: April 14, 2020

You agree to these Additional Square Capital Terms of Service (the “Capital Terms”) in connection with your use of and for determining your eligibility for the products and services (“Capital Services”) offered by Celtic Bank, a Utah-Chartered Industrial Bank, member FDIC (“Bank”) through Square Capital, LLC or its affiliates. Square, Inc. and Square Capital, LLC are referred to collectively in these Capital Terms as “Square Capital,” “we,” or “us.” You agree to be bound by these Capital Terms, the Square General Terms of Service and all other terms, policies, and guidelines applicable to the Capital Services, including, but not limited to, the loan agreement and all relevant disclosures between you and Bank.

You acknowledge that you are using the Capital Services for business purposes or on behalf of a business or entity (“Business”) for a business purpose. You further acknowledge that you are authorized to accept these terms on behalf of the Business and that the Business accepts these terms.

1. Bank Information

Collection of Bank Information

Square Capital uses Plaid Inc. (“Plaid”) to gather data from financial institutions. If you link a bank account in connection with the Capital Services, Plaid will collect data directly from the financial institution you specify. You grant Plaid, Bank and us the right, power, and authority to act on behalf of you and your Business to access and transmit personal and financial information about you and/or your Business from the financial institution you specify. You agree to such personal and financial information being collected, transferred, stored and processed in accordance with our Privacy Policy, Bank’s Privacy Policy, and Plaid’s Privacy Policy (referred to collectively as “Privacy Policies”).

When you share or provide access to bank statements, bank data, passwords, usernames, PINs, login information and/or any other personal or financial information about you and/or your Business in connection with the Capital Services (referred to collectively as “Bank Information”), you are licensing that content to us, Bank and Plaid for the purposes described in these Capital Terms and the Privacy Policies. You agree that all Bank Information will be subject to these Capital Terms and the Privacy Policies. You represent that you are a legal owner of, and that you are authorized to provide us, Bank and Plaid with Bank Information on behalf of yourself, your Business and/or any other account owner(s).

Use of Bank Information

You give Square Capital and Bank permission to use your Bank Information for purposes of: i) evaluating your business loan application, ii) evaluating your Business’s eligibility for any current or future Capital Services offers and marketing these offers to you and your Business, iii) servicing and collections activities related to your business loan, including but not limited to determining the amount of funds in your bank account available to be debited for loan repayment as authorized by your loan agreement, iv) investigating and reporting fraud or alleged fraud, v) evaluating your business for any products or services offered by us and marketing these products or services to you and your Business, vi) compliance with anti-money laundering and OFAC sanctions programs, and vii) internal analytics, credit modeling and product development. In addition, you give Square Capital, Bank and Plaid permission to use your Bank Information for any purpose specified in the Privacy Policies and any other purpose related to the Capital Services.

Duration of Access

When you link a bank account in connection with the Capital Services, you authorize Square Capital, Bank and Plaid to continue to collect Bank Information from the financial institution you specify for as long as your business continues to use any Square Capital product or service or for as long as your loan through Square Capital remains outstanding, whichever is longer. The frequency at which Square Capital, Bank and Plaid will collect Bank Information during this period will vary. You can revoke this authorization by writing Square Capital using our contact form. Your revocation will not affect our ability to electronically credit and debit your Square-linked bank account to the extent permitted under any applicable terms and agreements. The Bank Information collected with your consent prior to your revocation will continue to be reviewed, used, stored and shared in a manner consistent with these Capital Terms and the Privacy Policies.

2. Payroll Information

Collection of Payroll Information

Square Capital also uses Plaid Inc. (“Plaid”) to gather data from payroll providers. If you link a payroll account in connection with the Capital Services, Plaid will collect data directly from the payroll provider you specify. You grant Plaid, Bank and us the right, power, and authority to act on behalf of you and your Business to access and transmit personal and financial information about you, your Business and your employees from the payroll provider you specify. You agree to such personal and financial information being collected, transferred, stored and processed in accordance with our Privacy Policies.

When you share or provide access to payroll information, employment data and records, passwords, usernames, PINs, login information and/or any other personal or financial information about you and/or your Business and its employees in connection with the Capital Services (referred to collectively as “Payroll Information”), you are licensing that content to us, Bank,and Plaid for the purposes described in these Capital Terms and the Privacy Policies. You agree that all Payroll Information will be subject to these Capital Terms and Privacy Policies. You represent that you are a legal owner of, and that you are authorized to provide us, Bank, and Plaid with Payroll Information on behalf of yourself, your Business and/or any other account owner(s).

Use of Payroll Information

You give Square Capital and Bank permission to use your Payroll Information for purposes of: i) evaluating your business loan application, ii) evaluating your Business’s eligibility for this Capital Services offer, iii) servicing and collections activities related to your business loan, iv) investigating and reporting fraud or alleged fraud, v) compliance with anti-money laundering and OFAC sanctions programs, and vi) determining your eligibility for forgiveness of your business loan under applicable federal regulations. In addition, you give Square Capital, Bank and Plaid permission to use your Payroll Information for any purpose specified in the Privacy Policies and any other purpose related to the Capital Services.

Duration of Access

When you link a payroll account in connection with the Capital Services, you authorize Square Capital, Bank and Plaid to continue to collect Payroll Information from the payroll provider you specify for as long as your business continues to use any Square Capital product or service or for as long as your loan through Square Capital remains outstanding, whichever is longer. The frequency at which Square Capital, Bank and Plaid will collect Payroll Information during this period will vary. You can revoke this authorization by writing Square Capital using our contact form. The Payroll Information collected with your consent prior to your revocation will continue to be reviewed, used, stored and shared in a manner consistent with these Capital Terms and the Privacy Policies.

3. Credit Reports and Public Records

You give Square Capital and Bank permission to access your consumer credit reports and public records for purposes of: i) evaluating your business loan application, ii) evaluating your Business’s eligibility for any current or future Capital Services offers and marketing these offers to you and your Business, iii) servicing and collections activities related to your business loan, iv) investigating and reporting fraud or alleged fraud, v) compliance with anti-money laundering and OFAC sanctions programs, vi) internal analytics, credit modeling and product development, and vii) any other purpose related to the Capital Services. Checking your credit report for any of these reasons will not impact your credit score. You understand that, after evaluating your complete application and checking your credit report, Bank may decide not to offer Capital Services to your Business.

You understand that if your business’s loan application is declined based on any information from your consumer credit report, Square Capital, on behalf of Celtic Bank, will send a notice of this action to the business email address provided in the loan application. You acknowledge that such notice may include your personal credit score and information.

You consent to allow Square Capital to continue to access your consumer credit report and public records for as long as your loan with Square Capital remains outstanding.

3. Indemnification

You will indemnify, defend and hold harmless Square Capital, Bank and Plaid (and their respective employees, directors, agents, affiliates and representatives) from and against any and all claims, costs, losses, damages, judgments, tax assessments, penalties, interest, and expenses (including without limitation reasonable attorneys’ fees) arising out of any claim, action, audit, investigation, inquiry, or other proceeding instituted by a person or entity that arises out of or relates to: (a) any actual or alleged breach of your representations, warranties, or obligations set forth in these Capital Terms or any activity by you in relation to the Capital Services or your use of the Capital Services; (b) your wrongful or improper use of the Capital Services; (c) your violation of any third-party right, including without limitation any right of privacy; (d) your violation of any law, rule or regulation of the United States or any other country; and (e) any other party’s access and/or use of the Capital Services with your unique name, password or other appropriate security code.

4. Government Monitoring

To help the government fight the funding of terrorism and money laundering activities, Federal law requires Square Capital and Bank to obtain, verify, and record information that identifies each person who opens an account. When applying for a loan through Square Capital from Bank, we will obtain your name, address, date of birth and may ask you for other information that will allow us to identify you. We reserve the right to close, suspend, or limit access to the Capital Services in the event we are unable to obtain or verify this information.