Does a square loan affect the commission of contractors on square payroll?

[Mollyposh]

Does anyone know if the repayment of a square loan would affect payroll given to independent contractors who work off of commission? Because the loan is repaid with a percent of daily credit card sales, I want to make sure that doesn’t affect payroll and my contractors are still getting the correct amount.  

[Sammie_C]

Hi @Mollyposh!

We appreciate you taking the time to reach out!

You’ll repay your loan through a fixed percentage of each card transaction processed through Square. The repayment rate will be applied to your gross card sales, including tips and taxes paid by your customers using a credit or debit card, ACH payments, and QR code payments made with the Cash App. Please note that your repayment rate applies in addition to Square’s processing fees for these transactions.

Learn more about Square Loans in our Support Center.

Please let us know if you have any other questions!