Where does Square Capital do business?
Square Capital is a direct lender based in San Francisco, CA. It was founded in 2009 and offers access to business loans in 22 states across the USA.
What are Square Capital’s rates?
Square Capital offers business loans with fixed APRs starting from 30% to 35%.
Does Square Capital charge an origination fee?
Yes, Square Capital charges a loan origination fee.
What limitations does Square Capital set on the purpose of the loan?
Square Capital considers loan applications for business purposes, such as:
- Business Debt Refinance
- Equipment Purchase
- New Location
- Product or Service Expansion
- Technology Investment
- Working capital
What types of business loans does Square Capital offer?
Not all business loans are made equal. The type of loan you choose will determine the range of rates and terms you receive. Square Capital provides access to the following business loan types:
- Unsecured term loans
- Merchant Cash Advances
Does Square Capital charge prepayment fees?
No, Square Capital does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the loan off early.
How much can you borrow from Square Capital?Loan amounts start at $1,000 and go up to $100,000.
What is the maximum loan term you can get with Square Capital?
Square Capital offers business loans with terms ranging from 3 to 18 months. Having the option of longer terms allows borrowers to take on larger loan amounts while keeping monthly payments more affordable. However, the longer the term of your loan, the more interest you will pay.
What do you need to qualify for a loan with Square Capital?
Applicants with a credit score of at least 350 can apply for a loan via Square Capital. Square Capital does not require borrowers to have been in business for a minimum number of years.
Only U.S. citizens and permanent residents can apply for a loan Square Capital only considers borrowers who are employed or self-employed. To qualify, applicants may need to provide the following documentation:
- Proof of Income
- Proof of citizenship/residence (Green Card)
What is the estimated funding time for a business loan via Square Capital?
Square Capital can provide a credit approval decision in less than an hour and fund the loan within 1 business day.
1455 Market Street
San Francisco, CA 94103 USA
- Visit Site
- New Jersey
- New York
- North Carolina
|No Prepayment Fee|
|Credit Score Range||
350 - 850
|Immigration Status Considered||
|Employment Statuses Considered||
|Verification Documents Required||
|Loan Amount||$1K - $100K|
|Loan Term (Months)||3 - 18|
|APR (Fixed APR)||30% - 35%|