Square expands lending to 50% more sellers with upgraded models for seasonal and project-based businesses

Square has updated its underwriting models for Square Loans to better assess the creditworthiness of businesses with non-standard revenue patterns, including seasonal operators, project-based earners, and merchants new to Square, resulting in credit offers being extended to more than 50% more sellers. The improved models combine real-time transaction data with advanced machine learning to evaluate business health in ways traditional financial institutions typically cannot, and also introduce smaller loan options repayable over shorter periods to help cover cash flow gaps, supply needs, and utilities costs. Square has originated over $32B in small business loans since 2014, with an average loan size of around $10,000.