Retail

Square Launches Square Loans For Canadian Small Retailers

Square, a leading financial services company, has expanded its Square Loans program for small businesses in Canada.

Published: Apr 28, 2022 12:41 PM

By Jeanel Alvarado

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Square Launches Square Loans For Canadian Small Retailers

Square, a leading financial services company, has expanded its Square Loans program for small businesses in Canada. This move aims to provide Canadian entrepreneurs with easier access to funding and help them grow their businesses. Square Loans offers customized loan amounts ranging from $300 to $250,000, depending on the business’s sales history and other eligibility factors.

The loan program is designed to be flexible and convenient for small business owners. There are no credit checks or financial documents required, and the approval process is quick, with funds being disbursed in days rather than weeks. Additionally, no security is required for loans under $100,000.

The repayment structure is tailored to each business, with a minimum payment of 1/18th of the initial loan balance required every 60 days and full loan repayment due within 18 months. Square Loans has already extended over $9 billion in funds to more than 460,000 businesses in the United States since May 2014.

The expansion into Canada demonstrates Square’s commitment to supporting small businesses and providing them with the necessary resources to succeed.

Canadian entrepreneurs can use the funds from Square Loans for various purposes, such as purchasing inventory, acquiring new equipment, managing cash flow, or investing in growth opportunities…

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Square Launches Square Loans For Canadian Small Retailers

Square, a leading financial services company, has expanded its Square Loans program for small businesses in Canada.

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