Upserve Partners with Square Capital to Provide Access to Funding to Over 7,000 Restaurants
When my Aunt Esther opened the North Shore Restaurant on Nantucket Island in 1943, she knew little about the mechanics of running a restaurant. She was a hard worker who had saved some money and had a trove of recipes using the island’s bounty – fresh fish, wild mushrooms, game, berries and farm-grown vegetables. Her passion was for food and hospitality, much like the many restaurant partners Upserve helps today.
Her business thrived through dint of hard work and careful bookkeeping. She never went to big banks for a loan. “They’d never loan money to a woman AND a restaurant anyway,” she said at the time.
Today, we’re very excited to announce a new partnership with Square Capital that will provide Upserve customers with access to funding so they can grow their business. We know how challenging it is to run a profitable restaurant, and the disappointment to be told “no” by big bank lenders, even when business is great.
How does it work? We analyze anonymous transactional data to assess who qualifies. If your business qualifies, you’ll see an offer on the Upserve portal. Your business information is not shared with Square Capital unless you opt-in to the simple online application. No visits to the bank, no gathering paperwork, and no limits on how your business will use this growth capital.
This partnership is important to all of us at Upserve, and we’re proud to have a partner like Square Capital. We both share passions for empowering restaurants to grow and understand that access to capital is a critical component for their success. Our mission at Upserve has always been to help restaurants succeed. This is our commitment to you, now and always.
Times have changed since 1943, and I’d like to think my Aunt Esther would be pleased by this program because it’s based on business metrics, not subjective review; Upserve and Square Capital use data and trends to understand the best time to help restaurants grow.
By the way, the North Shore is now American Seasons Restaurant, in the same location Esther opened more than 70 years ago. They’re still serving fresh, local food, expertly prepared and running their business with Upserve POS.
To learn more about this exciting new partnership between Upserve and Square Capital, you can read our press release.