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Can the new business owner make payments on the loan?

  • Updated

Sure, any authorised individual associated with the business can make loan payments on behalf of the business. It's important to arrange for the business to repay the loan balance at the time of sale before selling or buying a business with a loan through SAPI.

If the loan is not repaid at the time of sale and the business starts processing payments through a new SAPI account after the sale, the repayment rate may be applied to the new SAPI account's sales until the loan is fully paid off.

To add the new account as a payer toward your business's loan, please don't hesitate to get in touch with the friendly Square Loans Team. We are always happy to offer you assistance!

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