#1 most trusted Top 10 Business Loan website
If you’re a Square customer, a merchant cash advance through Square Capital could be one of the easiest ways for you to access financing.
With Square Capital, Square offers MCAs to businesses that use their platform for payment processing—and because Square works with select borrowers using their service, these merchant cash advances are more affordable than other options.
Square provides between $300 and $100,000 in capital to Square Sellers. There aren’t any strict eligibility requirements, but Square looks at your processing volume and account history—if you show a steady history of credit and debit card sales, you could qualify for an advance.
Square charges factor rates of about 1.1 to 1.16, which (as we mentioned) puts them on the more affordable end of merchant cash advances.
This being said, the entire advance must be repaid in full within 18 months of approval. If you accept payments through Square, then you should definitely check in your Square dashboard to see if you qualify.