Square Capital Outgrows Square

| By:


Upserve SquareYou don’t need to process payments through Square anymore to get a loan from Square Capital. Restaurants that use Upserve, a restaurant payments and data analytics system, are now eligible as well.

Formerly known as Swipely, Upserve is still relatively small, with only 7,000 restaurants as customers. But it’s a milestone for Square nonetheless, whose loan program within their own ecosystem has become so successful, that they feel comfortable venturing outside of it.

“We are proud to partner with Upserve and offer loans through Square Capital to even more small businesses who traditionally face barriers when seeking access to funds,” said Jacqueline Reses, Head of Square Capital.

The move puts them on a path to truly competing with other alternative lenders such as OnDeck and CAN Capital. Loans are repaid just like they are through Square, through a percentage of each day’s card sales with the option to repay early at no additional fee.

Last modified: August 11, 2016
Sean Murray



Category: Business Lending

Home Business Lending › Square Capital Outgrows Square


    Arsenal

    IOU Financial

    Liquidibee

    Fox Business Funding

    Hunter Caroline

    Lendora

    AMA Recovery

    Torro

    The Smarter Merchant

    ByzFunder

    Highland Hill Capital

    Balboa Capital

    Lendini

    Smart Business Funding

    CAN Capital

    Fresh Funding

    Dedicated Financial GBC

    Spartan Capital

    Proventure Capital

    Key Capital Group

    Thor Capital Group

    Velocity Capital Group

    Wynwood Capital Group

    Cashyew

    Total Merchant Resources

    Pearl Capital

    Accord Business Funding