The mobile payment solutions provider, Square, attracts additional investments to go on supporting small ventures. The company is going to invest extra funds to small business lending - Square capital. Thanks to the proven and new investors, Square will be able to simplify the terms for getting loan for the entrepreneurs, who used to have bad luck with traditional banking.
Only in April 2015 the company expanded the small business lending volumes to $25mln. This program gives ventures access to funds and, consequently, growth opportunities. More than 80% of merchants, who got their first loan in Square Capital have already appealed for the second loan to the company, which will let investing funds to their own businesses.
Apart from lending Square gives its clients linked services, such as transaction protection when completing non-secured operations. Square is not the only mobile payments provider, involved in small business lending. The similar service is provided by PayPal.
