Square Consumer Installments
Square Capital, LLC Licenses
Nationwide Multistate Licensing System ID #1473167 (Main) and #1897529 (Branch). Search for “Square Capital, LLC” on NMLS Consumer Access.
State | License | View |
---|---|---|
Alabama | Consumer Credit License (Mini-code) | View License |
Alabama | Small Loan License | View License |
Alaska | Collection Agency License | View License |
Alaska | Small Loan Company License | View License |
Arizona | Collection Agency License | NMLS Consumer Access |
Arizona | Collection Agency Branch License | NMLS Consumer Access |
Arizona | Consumer Lender License | NMLS Consumer Access |
Arkansas | Collection Agency License | View License |
California | Financing Law License | View License |
Colorado | Supervised Lender’s License | View License |
Connecticut | Consumer Collection Agency License | NMLS Consumer Access |
Connecticut | Small Loan Company License | NMLS Consumer Access |
Delaware | Collection Agency | View License |
Delaware | Collection Agency Branch | View License |
Delaware | Licensed Lender License | View License |
District of Columbia | Money Lender License | NMLS Consumer Access |
Florida | Consumer Finance Company License | View License |
Idaho | Collection Agency License | NMLS Consumer Access |
Idaho | Regulated Lender License | NMLS Consumer Access |
Illinois | Consumer Installment Loan License | NMLS Consumer Access |
Illinois | Collection Agency License | View License |
Illinois | Collection Agency Branch License | View License |
Illinois | City of Chicago Regulated Business License - Debt Collector | View License |
Indiana | Collection Agency License | NMLS Consumer Access |
Indiana | Collection Agency Branch License | NMLS Consumer Access |
Indiana | Loan License | View License |
Iowa | Nonresident Regulated Loan License | NMLS Consumer Access |
Iowa | Nonresident Regulated Loan Company Branch License | NMLS Consumer Access |
Kansas | Consumer Credit Notification | View License |
Kansas | Supervised Loan License | NMLS Consumer Access |
Kentucky | Consumer Loan License | View License |
Louisiana | Collection Agency | View License |
Louisiana | Licensed Lender License | NMLS Consumer Access |
Maine | Supervised Lender License | View License |
Maine | Debt Collector License | View License |
Maine | Loan Servicer | View License |
Maryland | Collection Agency License | NMLS Consumer Access |
Maryland | Consumer Loan License | NMLS Consumer Access |
Maryland | Installment Loan License | NMLS Consumer Access |
Massachusetts | Small Loan Company License | NMLS Consumer Access |
Massachusetts | Third Party Loan Servicer Registration | NMLS Consumer Access |
Michigan | Regulatory Loan License | NMLS Consumer Access |
Minnesota | Regulated Loan Company License | NMLS Consumer Access |
Minnesota | Collection Agency License | View License |
Minnesota | Collection Agency Branch License | View License |
Missouri | Consumer Credit Loan Company | View License |
Missouri | Consumer Installment Lender License | View License |
Montana | Consumer Loan License | NMLS Consumer Access |
Nevada | Foreign Debt Collection Agency License | View License |
New Hampshire | Small Loan Lender License | NMLS Consumer Access |
New Jersey | Collection Agency Bond | View License |
New Jersey | Consumer Lender License | View License |
New Mexico | Small Loan Company License | View License |
New York | Licensed Lender License | NMLS Consumer Access |
New York | City of Buffalo, Debt Collection Agency License | View License |
New York | City of Yonkers, Debt Collection Agency License | View License |
New York | New York City, Debt Collection Agency License | View License |
North Carolina | Collection Agency License | View License |
North Carolina | Collection Agency Branch License | View License |
North Dakota | Money Broker License | NMLS Consumer Access |
North Dakota | Collection Agency License | NMLS Consumer Access |
North Dakota | Collection Agency Branch Registration | NMLS Consumer Access |
Ohio | Consumer Installment Loan License | NMLS Consumer Access |
Ohio | General Loan Law Certificate of Registration | NMLS Consumer Access |
Ohio | Small Loan License | View License |
Oklahoma | Supervised Lender License | View License |
Oregon | Consumer Finance License | NMLS Consumer Access |
Oregon | Collection Agency License | NMLS Consumer Access |
Pennsylvania | Consumer Discount Company License | View License |
Rhode Island | Debt Collector Registration | NMLS Consumer Access |
Rhode Island | Lender License | NMLS Consumer Access |
Rhode Island | Loan Broker License | NMLS Consumer Access |
South Carolina | Supervised Loan License | View License |
South Carolina | Supervised Loan License (for squareinstallments.com) | View License |
South Dakota | Money Lender License | NMLS Consumer Access |
South Dakota | Money Lender Branch License | NMLS Consumer Access |
Tennessee | Industrial Loan and Thrift License | NMLS Consumer Access |
Tennessee | Collection Service License | View License |
Tennessee | Collection Service License, NY | View License |
Texas | Regulated Lender License | View License |
Utah | Consumer Credit Code Notification | View License |
Utah | Collection Agency Foreign | View License |
Vermont | Lender License | NMLS Consumer Access |
Vermont | Lender License Branch | NMLS Consumer Access |
Vermont | Loan Solicitation License | NMLS Consumer Access |
Washington | Consumer Loan Company License | NMLS Consumer Access |
Washington | Collection Agency | View License |
West Virgina | Collection Agency Tax | View License |
West Virgina | Collection Agency Tax, NY | View License |
Wisconsin | Loan Company License | View License |
Wyoming | Supervised Lender License | NMLS Consumer Access |
Square Capital, LLC is licensed to do business at 1455 Market Street, 8th Floor, San Francisco, CA 94103.
Program Change Update:
*On Tuesday, July 9, 2019 Square Capital, LLC’s consumer Installments program transitioned to a bank partner. All loan applications received prior to July 9, 2019 will be reviewed and if approved, will be originated by Square Capital, LLC.
All loan applications received on and after July 9, 2019 will be issued by Celtic Bank, a Utah-Chartered Industrial Bank, Member FDIC, located in Salt Lake City, UT. Merchant is an independent third party from Celtic Bank, Square, Inc., and Square Capital, LLC. Loans are subject to credit approval. Square Installments is only available to U.S. citizens or permanent residents who are at least 18 years old who make purchases at select Square businesses. Square Installments is currently not available in Hawaii or West Virginia. Visit here for eligibility and program information.
*
Square Installments Loan Fee
Fee examples and loan program information prior to and after July 9, 2019 below.
After July 9, 2019
Loans issued by Celtic Bank, a Utah-Chartered Industrial Bank, Member FDIC, located in Salt Lake City, UT. Borrowers can choose to pay over 3, 6, or 12 months with fixed interest rates from 0-30%.* The interest rate and annual percentage rate (APR) are the same. The interest rate may vary based on credit history and other factors. Our 0% rate is available for qualifying applicants who select autopay and choose a 3-month term. Select Square businesses may offer 0% APR for longer terms based on individual credit.
A reduced APR is available when automatic payments are selected during the application process. APR is the only cost associated with Square Installments—no prepayment fees, deferred interest, or service fees. The interest rate never changes throughout the loan term. The product does not charge compound interest (interest charged on interest). Interest is only charged on the amount originally financed.
Notice
Before signing any loan documents or otherwise committing to a loan, you may take copies of those documents away from the consumer lender’s place of business for review.
Fee Examples
Here’s an example of monthly payments for a $2,100 purchase.
3 Monthly Payments | 6 Monthly Payments | 12 Monthly Payments |
---|---|---|
$711.69 per month | $365.45 per month | $189.51 per month |
$2,135.08 total cost | $2,192.70 total cost | $2,274.07 total cost |
10% APR | 15% APR | 15% APR |
The example above assumes that all payments made in full on the scheduled installment due dates.
Prior to July 9, 2019
Square Capital charges interest based on the loan amount and duration. Prospective borrowers have the option of selecting a loan term of 3, 6, or 12 months. Interest is calculated based on a fixed monthly rate (the advertised annual rate divided by 12) and is assessed daily against the loan’s outstanding principal balance.
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, 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. 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. 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. 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. For more information on eligibility and program information, visit here.
Notice
Before signing any loan documents or otherwise committing to a loan, you may take copies of those documents away from the consumer lender’s place of business for review.
For South Carolina residents: Square Capital, LLC does not offer consumer loans in the state of South Carolina. Click here for a copy of the South Carolina Consumer Pamphlet.
Fee Examples
Here’s an example of monthly payments for a $2,100 purchase.
Amount Financed | Payment Schedule | Expected Interest (Finance Charge) | Repayment Amount | APR |
---|---|---|---|---|
$2,100.00 | 3 month term: 2 monthly payments of $705.00 and 1 payment of $704.00 | $14.00 | $2,114.00 | 4.00% |
$2,100.00 | 6 month term: 5 monthly payments of $365.00 and 1 payment of $361.44 | $86.44 | $2,186.44 | 14.00% |
$2,100.00 | 12 month term: 11 monthly payments of $199.00 and 1 payment of $193.23 | $282.23 | $2,382.23 | 24.00% |
*18 and 24 month loan term available in CA only for select participating merchants.