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Square Announces Square Capital, a Merchant Cash Advance Business

Jason Del Rey has been a business journalist for 15 years and has covered Amazon, Walmart, and the e-commerce industry for the last decade. He was a senior correspondent at Vox.

This morning, Square publicly confirmed the launch of a new business line to extend capital to its business customers in the form of a merchant cash advance. As Re/code reported in March, the program, dubbed Square Capital, lets business owners get a lump sump payment of cash up front in return for a fixed cut of their future sales.

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