https://community.squareup.com/t5/Banking-With-Square/Square-loan/m-p/697445#M2204 <P>Good morning,</P><P>I am in the understanding that the loan has a one time fee (which is fine) and the % is taken out depending on how much you take BUT, for example: if the loan amount is $40,000 and you have the fee you pay for which is about 7k then the 10.5% out of card sales. Do we still get charged the card sales % of 3.5 + 15 cents or is that taken away and we it goes to the 10.5%</P><P>?</P> Sat, 20 Sep 2025 12:27:21 GMT bythecofjax0215 2025-09-20T12:27:21Z https://community.squareup.com/t5/Banking-With-Square/Square-loan/m-p/697445#M2204 <P>Good morning,</P><P>I am in the understanding that the loan has a one time fee (which is fine) and the % is taken out depending on how much you take BUT, for example: if the loan amount is $40,000 and you have the fee you pay for which is about 7k then the 10.5% out of card sales. Do we still get charged the card sales % of 3.5 + 15 cents or is that taken away and we it goes to the 10.5%</P><P>?</P> Sat, 20 Sep 2025 12:27:21 GMT https://community.squareup.com/t5/Banking-With-Square/Square-loan/m-p/697445#M2204 bythecofjax0215 2025-09-20T12:27:21Z https://community.squareup.com/t5/Banking-With-Square/Square-loan/m-p/697457#M2205 <P>Hi&nbsp;<a href="https://community.squareup.com/t5/user/viewprofilepage/user-id/642235">@bythecofjax0215</a>. &nbsp;The daily repayment rate is <STRONG>in addition to</STRONG> your normal card processing fees. &nbsp;So if you are paying the standard 2.6% + 10 cents, and your daily repayment rate for your loan is 10.5%, then the amount deducted from each transaction would be (2.6% + 10.5%) + 10 cents, or 13.1% + 10 cents.</P><P>&nbsp;</P><P>So, on a card transaction that totals $100 (including sales tax and any tips), the fee would be $13.20</P><P>&nbsp;</P><P>Let me know if you have any other questions.</P> Mon, 04 Dec 2023 16:32:05 GMT https://community.squareup.com/t5/Banking-With-Square/Square-loan/m-p/697457#M2205 TheRealChipA 2023-12-04T16:32:05Z