June 28, 2017Blog Posts

Square Capital ramps up lending to customers of small businesses

San Francsico Business Journal:

San Francisco payment-processing company Square has started telling a few small business clients that it will begin extending credit to their customers, issuing small consumer loans that it will initially hold instead of selling them to outside managers, the Wall Street Journal reports. Square said it will not be issuing mortgages or car loans, but will instead focus on loans from $250 to $10,000, with a flat 9.99 percent annual percentage rate for every borrower approved.

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