Rating based on 7 reviews

Square Finance

  • Loans bad credit up to R3,000,000
  • Low-interest starting from 5%
  • Repayment up to 60 months

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Square Finance homepage
Author Square Finance. Screenshot of Square Finance website.
[Accessed January 30, 2023]

About Square Finance

In November of 2010, four people came together to create a company that would take the consumer finance market by storm. Square Finance was established to become an industry leader. 

The company, consisting of qualified professionals, was founded in South Africa and is rooted firmly in the city of Cape Town. Their lending solutions are uniquely rounded off by the personal service they’re so well known for, offering you a one-of-a-kind provider.

Square Finance prides itself on operating on a core set of values. They have a firm belief in offering their clients real solutions for optimum financial health.

Square Finance’s core principles

  • Responsibility – Ensure their products and services are helpful and affordable.
  • Transparency – Aim to deliver on their promises and make sure that you are aware of all the details of your credit agreement.
  • Fairness – Treating each customer with dignity is of utmost importance.
  • Simplicity – Ensuring that their products and services are clear and concise.

A historical review of Square Finance

After the establishment of the company in 2010, the company was poised to achieve their goals and grow beyond what anyone thought possible. In May of 2012, they launched the second charge mortgage loan product.

In June 2013 they reached the R200 million mark for loans granted. The first institutional capital raise was completed in May 2014. The very next month would see them move to a much larger office space in Woking, Surrey.

By December of 2014, they had granted more than R800 million in loans and a year later they employed more staff members.

November 2016 saw Square Finance employ a total of over 20 qualified staff members. This was just in time for the R1800 million in loans they were handling by December of the same year.

Square Finance Services

A Square Finance bad credit loan is a loan that is acquired through a guarantor. This means that you need a third party that is a homeowner to co-sign for your loan. In short, someone else must offer collateral. 

This loan option can offer you up to R3 million with a repayment period of between 12 months and 5 years. By offering you a fixed interest rate of 24.9%, you’ll know exactly what you’ll have to repay on your loan.

Applying for a bad credit loan from Square Finance offers fast, same-day approval and payouts.

What can this loan be used for?

A Square Finance guarantor loan can be used for almost anything your heart desires. Some of these uses include:

  • To repair your credit
  • For purchasing a new vehicle or repairing an existing vehicle
  • Paying school fees
  • Taking your family on holiday
  • To pay for your wedding

A loan calculator for making informed decisions

Square Finance has taken the extra step to assist you in making an informed financial decision. They’ve placed a loan calculator on their website to assist you with knowing your borrowing power and your monthly repayment instalments.

Personal loans from Square Finance

Square Finance’s personal loan offers homeowners up to R20 million in financing with a loan repayment period of up to 10 years. They offer you a fixed interest rate of 5% APR and just like the guarantor loan, this loan can be used for any purpose.

Square Finance – Bad credit loan

  • Loan Type Loans bad credit
  • Interest Rate from 5%
  • Loan Amount up to R3,000,000
  • Repayment 12 months to 60 months

Benefits of Square Finance

  • Same day approval 
  • An easy online application process
  • Fixed interest rates

Bad credit loan calculator

The interest rate of a loan will vary based on your credit score and risk profile.
This bad credit loan calculator is for illustration purposes only.
The use of this loan calculator is subject to our terms of use.

Your guide to applying for a Square Finance bad credit loan

Like with any loan, there’s a criterion that you need to comply with to apply. The following criteria apply to the bad credit guarantor loan from Square Finance:

  • The minimum loan amount is R10,000
  • A maximum loan amount is R3 million
  • Earn a minimum monthly income of R7,000
  • Be between 21 and 70 years old

The bad credit application process explained

  • The first step in applying for your loan is to navigate to the Square Finance website.
  • On the homepage, select the dropdown menu on the loan products tab located at the top of the page.
  • From there, select the option that says guarantor loans. You’ll be redirected to the relevant page.
  • Once there you can utilise the loan calculator to indicate your desired loan amount as well as the repayment term. As you slide the dials you’ll notice the interest on your loan as well as the total monthly instalment will be displayed.
  • Once satisfied with the amount, hit the apply now button that will take you to the application form.
  • Complete all required fields in full. The application will take about 5 minutes to complete and require you to provide some basic details.

The first section requires details of the applicant, including:

  • First and last names
  • Contact details
  • ID number
  • Date of birth

You’re asked to create your account login details with your email address and a password.

The third section requires information about your employment, such as:

  • Employment status
  • Job title
  • Business name and address
  • Gross monthly income

The last section will be regarding your loan and include information like:

  • Type of loan
  • The loan amount and repayment term
  • Blacklisting and financial debt status
  • Loan repayment method

After the application is completed you may read through and accept the terms and conditions and send the application.

As soon as all information required is received, your loan will be reviewed. You’ll be notified of the approval and paid out within 24 hours thereof.

Why choose a bad credit loan from Square Finance?

  • They offer competitive loan rates
  • Loans have a fixed rate
  • Fast payout time
  • Repayment terms between 1 and 5 years

When all options are exhausted

Having a bad credit score means you can’t apply for a traditional loan. Square Finance understands that unforeseen things happen and people unintentionally default on debt, giving them a bad credit record.

They’re here to change the way people with poor credit are dealt with. They believe in second chances and can offer you a chance to access credit even with a poor record. Apply today and get back control of your finances.

man holding thumbs up

Square Finance is a trusted & reliable provider of loans bad credit

In our review, Square Finance adheres to the compliance criteria in accordance with the National Credit Act, where the granting the loan will not cause financial distress to the consumer.

✅ Square Finance is a registered credit provider in South Africa: NCRCP10013

Customer Reviews & Testimonials

March 2022

Obtaining a bad credit loan was starting to look like an impossible thing to get until we came across an advertisement for Square Finance. We applied online and had an answer within 24 hours.

Sandy H
— Port Elizabeth —

November 2021

Square Finance has been our lifeline when we had no hope left to get a loan. They assisted us with a bad credit loan and we could pay off all of our debt and had money left for a holiday.

Simphiwe N
— Riversdale —

April 2022

I would like to thank Square Finance for assisting me with the bad credit loan I needed when no other company would. The application process was quick and easy and only took a few minutes to comp...

Ragel G
— Aberdeen —

Square Finance Contact

Physical Address

  • 64 Main Road, Somerset West Cape Town Western Cape 7130 South Africa
  • Get Directions

Opening Hours

  • Monday 08:00 – 17:00
  • Tuesday 08:00 – 17:00
  • Wednesday 08:00 – 17:00
  • Thursday 08:00 – 17:00
  • Friday 08:00 – 17:00
  • Saturday 08:00 – 17:00
  • Sunday – Closed