Hi @Justind,
Thank you for your question.
One of the benefits of a loan through Square Capital is flexible repayments – paying a fixed percentage of daily card sales allows you to pay more when your business is busy and less if things slow down.
However, you do need to meet the following minimum repayment requirements:
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Minimum payment: 1/18 of your initial loan balance must be paid every 60 days. This helps your business make consistent repayment progress.
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Loan Maturity: The loan balance must be repaid in full within 18 months of your approval date. Your exact Loan Maturity Date is reflected in your Loan Agreement.
Square Capital regularly monitors accounts and may contact you if you are close to missing a repayment deadline. You are also able to track the current progress of your minimum payment requirement on your Square Dashboard.
If you have any questions, please contact us.
Cameron
The Square Banking Team
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Square, the Square logo, Square Financial Services, Square Capital, and others are trademarks of Square, Inc. and/or its subsidiaries. Square Financial Services, Inc. is a wholly owned subsidiary of Square, Inc. All loans are issued by Square Financial Services, Inc. a Utah-Chartered Industrial Bank. Member FDIC. Actual fee depends upon payment card processing history, loan amount and other eligibility factors. A minimum payment of 1/18th of the initial loan balance is required every 60 days and full loan repayment is required within 18 months. Loan eligibility is not guaranteed. All loans are subject to credit approval.
