Top Ways Businesses are Using Their Square Loans

We visit local businesses every day to learn about the major pain points in getting things off the ground. And through our small-business financing program, Square Loans, we also understand what entrepreneurs need money for the most.

To date, over 10,000 businesses have accepted more than $50 million in Square Loans. And they’ve been killing it. As a whole, Square Loans sellers have processed more than $1 billion dollars in payments so far — helping to bolster their local economies in the process.

Sellers have used the capital in a variety of ways, for everything from hiring more staff and opening a second location to buying extra salon chairs But which industries seek capital the most? And what are their most common needs? We’ve noticed some trends, highlighted in the graphic below.

Square Capital trends