Square Financial Services and Square Capital
Because they’re a “bank” too, Square can take part in the relief programme.
This could’ve been Robinhood too, if they got their licence. It is a lost opportunity for the “first mover”. (Check Cash App’s execution of stock trading in the US, they’re a major threat to RH given that both are popular among younger people: https://www.youtube.com/watch?v=J0Fho7sbgbo.)
1/4 Square Capital has received U.S. Treasury and SBA approval to be a PPP lender, and we will start rolling out our PPP loan applications this week. We continue to work with our partner Celtic Bank as they have existing expertise as a leading SBA lender.
We will notify sellers when their application is available via Square Dashboard, starting with employers whose application data we can verify automatically. We expect to expand access to more small businesses soon.
3/4 We know sellers need financial support now more than ever, and we’re committed to making funding accessible to as many small businesses as possible.
