Square, the global tech company, has introduced its data-driven cash advance solution for UK businesses. With Square Cash Advance, small and micro enterprises gain fast access to funding that supports business growth and everyday operations.
Unlike traditional loans, this offering comes with no interest just a transparent, upfront funding fee. This helps small businesses better manage cash flow and focus on expansion. The product reflects Square’s commitment to solving real-world problems for entrepreneurs.
Michael Sayward, Founder of Millie & Mini, was among the first UK sellers to test the new feature. He said, “With Square Cash Advance, we improved operations while keeping risks low. The repayment model suits our business cycle perfectly.”
Business owners can apply in just a few clicks. If approved, funds are delivered within days not weeks. Repayments happen automatically through a fixed percentage of daily card sales, saving business owners valuable time.
The funds may be used to buy inventory, upgrade equipment, or support marketing. However, usage must be strictly for business needs not personal expenses.
To develop this product, Square conducted in-depth research with small business owners. Findings revealed most entrepreneurs struggle with cash flow management and desire quick, flexible funding. Square Cash Advance directly responds to those needs.
Samina Hussain-Letch, Executive Director of Square UK, said, “Cash flow issues are the top reason UK small businesses fail. This solution gives entrepreneurs breathing room to focus on growth.”
Importantly, Square Cash Advance isn’t a credit product. There’s no impact on credit score and no personal guarantees are required. The repayment adjusts to each business’s performance lower during slow sales, higher when sales grow.
Repayments start two days after disbursal. Businesses will see the terms, percentage rate, and funding fee clearly displayed in their dashboard. The rate also applies to gross card sales, including VAT and tips, alongside Square’s regular processing fees.
Ultimately, entrepreneurs can select the amount they need up to their offer limit with a full understanding of the total repayment. This empowers them to maintain control while boosting business growth using Square’s data-driven funding model.
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News Source: Businesswire.com
