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.