Square Loans is invitation-only — you can’t apply directly; Square decides who gets an offer based on your Square payment-processing history, and there’s no published rate or fixed credit-score minimum. If you’re not getting Square offers, or you process payments outside Square entirely, here’s what Square actually discloses and how REIL Capital’s financing options compare.
What Square Loans Offers
Square Loans (formerly Square Capital) is structurally different from a typical business loan: there’s no application you fill out to request funding. Eligibility is invitation-only, based on your Square payment-processing history — businesses processing $10,000+/year and active on Square for 20+ days in the last year are “more likely” to see an offer, with no guarantee. Square doesn’t publish a fixed rate; third-party estimates put its factor rate around 1.10–1.16, disclosed only at the individual, invitation-only offer stage. The average loan size has historically run “nearly $10,000” per Square’s own reporting. Funding typically arrives as soon as the next business day after approval (instant with Square Checking).
In March 2026, Square expanded underwriting to reach 50%+ more sellers than previously eligible, including new-to-Square, seasonal, and project-based businesses — 66% of new offers went to sellers with under $25K in annual processing volume, 95% to sellers under $125K.
Square vs. REIL Capital, Side by Side
| Factor | Square Loans | REIL Capital |
|---|---|---|
| How you apply | You don’t — invitation-only based on Square processing history | You apply directly; not tied to any specific payment processor |
| Published rate | Not published — disclosed only per invitation (third-party estimate ~1.10–1.16 factor rate) | Not a fixed published rate — priced per applicant |
| Eligibility | Tied to Square payment volume and account history — no credit-score minimum published | Multiple products span different credit and revenue profiles |
| Platform dependency | Requires active Square payment processing | Not tied to any payment platform |
| Funding speed | As soon as next business day (instant with Square Checking) | Varies by product — ask about timelines for your specific financing type |
Square’s biggest structural difference isn’t rate or amount — it’s that you can’t request an offer. If Square hasn’t extended one, or you don’t process payments through Square at all, there’s no path in.
When Square Loans Might Be the Right Fit
If you already process a meaningful volume through Square and have received (or are likely to receive) an offer, Square Loans can be genuinely convenient — no separate application, fast funding, and Square has expanded eligibility to reach more sellers as of March 2026. It’s a real option for a business already built around the Square ecosystem.
When REIL Capital Makes More Sense
If you haven’t received a Square offer, process payments outside Square, or want to actively apply for financing rather than wait for an invitation, REIL Capital works directly with businesses across a range of financing types — lines of credit, revenue-based financing, invoice financing, and more — regardless of payment processor.
Frequently Asked Questions
Can I apply for a Square business loan directly?
No. Square Loans is invitation-only — Square extends offers based on your payment-processing history and activity on the platform. There’s no direct application.
What does Square Loans actually cost?
Square doesn’t publish a rate range on its own site. Third-party reviewers estimate a factor rate around 1.10–1.16, but the real number is disclosed only when Square extends you a specific offer.
Do I need to use Square to get financing from REIL Capital?
No. REIL Capital isn’t tied to any payment processor — you can apply regardless of how you process payments.
Is Square Loans still active in 2026?
Yes. Square renamed Square Capital to Square Loans in 2021 and expanded underwriting in March 2026 to reach more sellers — it hasn’t been discontinued.
Explore Your Financing Options With REIL Capital
See REIL Capital’s business line of credit, learn about revenue-based financing, or call our team at 646-440-4100 to talk through your options.
