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  Square Capital Small Business Loans

Square Capital Small Business Loans

in Business Loans from Square Inc

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Square Capital Small Business Loans

Unaffiliated

in Business Loans from Square Inc

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Highlights
Loan Amount $300 - $100,000
APR  (Fixed APR) 30% - 35%
Loan Term (Months) 3 - 18 months

Square Capital Small Business Loans Review

Square capital is a business financing offering by Square Inc, based in San Francisco, CA. Founded in 2009, Square Inc offers access to small business loans in 22 states across the USA.

Square capital FAQ

What are Square capital’s rates?

Square capital offers a fixed APR business financing product that ranges from 30% APR up to 35% APR.

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 business loan?

Square capital considers business loan applications for business purposes, such as:

  • Business Debt Refinance
  • Equipment Purchase
  • Hiring
  • Inventory
  • Lease Improvement
  • New Location
  • Payroll
  • Product or Service Expansion
  • Technology Investment
  • Working capital

What types of small business loans does Square capital offer?

Not all small business loans are made equal. The type of business loan you choose will determine the range of interest rates and terms you receive. Square capital provides access to the following business loan types:

  • Unsecured Term Business 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 business loan off early.

How much can you borrow from Square capital?

Business loan amounts start at $300 and go up to $100,000.

What is the maximum business loan term you can get with Square capital?

Square capital offers small 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 Square Capital Small Business Loans?

Square Capital Small Business Loans does not require borrowers to have been in business for a minimum number of years. Businesses don't have to meet a minimum annual revenue to be considered.

Applicants with a credit score of at least 350 and up to 850 may be eligible for Square Capital Small Business Loans.

The Military Lending Act (32 C.F.R. § 232) prohibits lenders from charging service members more than 36% APR on credit extended to covered borrowers. Active duty service members and their covered dependents are eligible to apply for a loan via Square Capital Small Business Loans. Their rates fall within the limits of The Military Lending Act.

U.S. citizens are, of course, eligible for the services offered by Square Capital Small Business Loans. Permanent resident / green card holders are also eligible to apply.

To qualify, applicants may need to provide the following documentation:

  • Proof of income
  • Driver's license
  • Proof of citizenship or residence permit
  • U.S. tax identification number

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 business loan within 1 business day.

Square Capital Small Business Loans Disclosure: Only businesses that take Square payments qualify for a business loan.
SuperMoney Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...
Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

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Other Services by Square Inc

Availability

  Available in 22 states
  • Arizona
  • California
  • Colorado
  • Connecticut
  • Florida
  • Georgia
  • Illinois
  • Kentucky
  • Louisiana
  • Massachusetts
  • Michigan
  • New Jersey
  • New York
  • North Carolina
  • Ohio
  • Oregon
  • Pennsylvania
  • Tennessee
  • Texas
  • Utah
  • Virginia
  • Washington

Feature Breakdown

No Prepayment Fee
Credit Score Range 350 - 850
Employment Statuses Considered
  • Employed Full-Time
  • Self-Employed
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Military Status
  • Active Duty Military
  • Non-Military
  • Veterans
  • Military Dependent
Verification Documents Required
  • Proof of Income
  • U.S. Tax Identification Number
  • Driver License (or other photo ID)
  • Proof of citizenship/residence (Green Card)
Loan Amount $300 - $100,000
APR (Fixed APR) 30% - 35%
Loan Term 3 - 18 months

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