Capital: Could someone give me a breakdown on the rates?

[Dskou01]

The title of this thread has been edited from the original: Capital info

Good evening I noticed that I am elegiable for a capital loan.... 17.75 % of daily sales seems really high.. So 17.75% is subtracted from your total sales for the day? Could someone give me a breakdown on the 17.75 for 150.00-300.00 daily sales? Thanls

[ryanwanner]

Basically, 17.75% is how much of every credit card transaction Square will take as a repayment to a capital loan. This is in addition to your usual swipe rate.

Example: If you have a $100.00 transaction paid by credit card, your $2.75 will be taken out as usual (or whatever your current fee is) plus $17.75 for the capital payment. In total, your deposit would be deducted $20.50, leaving a deposit of $79.50. If you have $300 in credit card sales in a day, your deposit would be $238.50.

Check the capital page on your dashboard. You may have a slider visible that allows you to determine how much money you would like to accept. Underneath the slider is a breakdown of the fee structure. I've seen that slider go all the way down to 3% of my daily sales. Obviously you'll get less money, but it won't take such a cut of your deposit either.