Frequently Asked Questions
Square Installments lets you easily apply to pay for your purchase over time—all while shopping at participating Square businesses in-store, at home, or online.
Merchant is an independent third party from Square, Inc. and Square Capital, LLC. All loans are issued by Square Capital, LLC, a wholly owned subsidiary of Square, Inc., d/b/a Square Capital of California, LLC in FL, GA, MT, and NY. Loans are available to AZ, CA, CO, CT, FL, GA, IL, KY, LA, MA, MI, NC, NJ, NY, OH, OR, PA, TN, TX, UT, VA, and WA residents only. Borrower must be a U.S. citizen or permanent resident and at least 18 years old. Valid U.S. non-prepaid debit card and Social Security number are required. Loans are available for purchases of $250 to $10,000 and are payable in 3-, 6-, or 12-month installment options with minimum payments due each month. The amount financed will be based on the purchase total, but in any event will not exceed the maximum approved loan amount. Available annual percentage rate (APR) ranges are from 0% to 24%. Maximum APR of 18% applies to CA, FL, TX, CO, MA and LA, 16% applies to GA, NY, and NC residents, and 12% to VA residents. 0% APR is only available for qualifying applicants electing 3-month installment option. Your monthly payment amounts will depend on the repayment term length you select, the amount of your purchase, and your APR. For example, a 3-month $2,100.00 loan with 4.00% APR would have 2 monthly payments of $705.00 and 1 payment of $704.00 for a total of payments of $2,114.00. A 6-month $2100 loan with 14.00% APR would have 5 monthly payments of $365.00 and 1 payment of $361.44 for a total of payments of $2,186.44. A 12-month $2,100.00 loan with 16.00% APR would have 11 monthly payments of $191.00 and 1 payment of $184.93 for a total of payments of $2,285.93. The expected interest and repayment amounts assume you will make all payments in full on the scheduled installment due dates. Late payments or payments of less than the full amount due may result in higher interest charges and repayment amounts. All loans are subject to credit approval and the rate individual borrowers qualify to receive may vary based on individual credit history and other factors. Legal information for Square Capital, LLC can be found here. Square Capital, LLC NMLS ID: #1473167 (http://www.nmlsconsumeraccess.org).