The specs
Square CapitalGreenbox Capital
Product typeMCAMulti-product
Amount range$300 – $250K$5K – $250K (MCA); other products vary
Cost (factor / APR)Single fixed fee (10 – 16% of loan amount); no APR / no compoundingFactor varies by paper; published commission up to 19% to ISOs
Speed to fundAs soon as next business day24 – 48 hours
Min time in business12 months6 months
Min monthly revenue$10,000+ in Square card sales typical floor$15,000
Min credit scoreNo FICO pull — underwrites entirely against Square sales historyFlexible — accepts down to 500 on some programs
Products
- Embedded seller working capital (Square sellers only)
- MCA
- Invoice factoring
- Equipment financing
- Collateral loans
- LOC
Verdicts by use case
- Restaurant on Square for Restaurants POS — Winner: Square Capital. Square Capital surfaces offers directly in the Square dashboard with a single fixed fee (10 – 16% of advance) and no FICO pull. For Square-native restaurants the embedded path is decisively simpler and cheaper than a Greenbox MCA.
- Restaurant not on Square POS — Winner: Greenbox Capital. Square Capital is Square-sellers-only. A restaurant on Toast, Clover, Aloha, Micros, or any non-Square processor cannot access Square Capital. Greenbox MCA underwrites against bank statements regardless of POS — accessible to any restaurant meeting basic qualification.
- Restaurant needing larger advance ($150K+) — Winner: Greenbox Capital. Square Capital caps at roughly 1.4× monthly Square sales, so a restaurant doing $50K/mo on Square typically caps at $70K advance. Greenbox MCA goes to $250K plus alternative products (equipment financing, LOC) for larger capital needs.
- Restaurant with B/C-paper credit profile — Winner: Greenbox Capital. Square's internal underwriting declines restaurants with negative cash-flow patterns even without a FICO pull. Greenbox accepts FICO down to 500 on some programs and is the more forgiving path for B/C-paper restaurants.
- Restaurant wanting most merchant-friendly cost structure — Winner: Square Capital. Square Capital's single-fee structure (no APR, no compounding) is genuinely merchant-transparent — the cost is one number disclosed up front. Greenbox MCA factor rates require APR-equivalent translation and the published ISO commission (up to 19%) is typically baked into the merchant's factor.
The honest takeaway
Square Capital and Greenbox Capital solve overlapping but distinct problems. The right choice depends on three things you already know about your business: how fast you need the money, how long you've been operating, and whether the capital need is one-time or recurring.
Frequently asked questions
- Can a restaurant apply for Square Capital?
- No — Square Capital is offer-based. Square's underwriting algorithm decides which sellers see offers in their dashboard based on processing history, transaction patterns, and account standing. You can't apply or accelerate eligibility. If you're not seeing offers, the path is to grow Square processing volume consistently for 6 – 12 months.
- Which is faster to fund for a restaurant that needs cash this week?
- Square funds as soon as next business day after acceptance — fast, but contingent on Square having already pre-qualified you. If you don't have an active Square Capital offer, Greenbox can fund in 24 – 48 hours after document submission. For a restaurant needing cash this week without an existing Square offer, Greenbox is the faster path.
- Does Square Capital pull a FICO score?
- No — Square underwrites entirely against Square processing history. No FICO pull, no personal credit check, no public credit bureau reporting. This is one of the cleanest underwriting structures in MCA. Greenbox does pull credit (550+ floor, accepts down to 500 on some programs).