Square today launched Square Capital, a program intended to help businesses grow by giving them quick access to funds in a way the company said is easy for merchants to understand.

Square Capital has no application process, and businesses get their money as soon as the next business day, according to a press release. Businesses automatically pay Square as a set percentage of daily card sales, so they pay more when sales are strong and less if things slow down.

Square said it creates unique offers for businesses with the expectation that sellers will complete their advance in approximately 10 months, although there is no set time frame. The cost to the seller never changes, regardless of how long it takes to pay Square, according to the press release.

During the pilot program, Square said in the press release, thousands of sellers used Square Capital to buy equipment and inventory, hire more employees and add new stores.

"We're really grateful for Square Capital, which helped us add a sixth coffee shop location and expand our Roastery," New York–based Cafe Grumpy owner Caroline Bell said in the release. "We got our money quickly, and the ease of automatic payments allowed us to focus our time and energy on serving great coffee to our customers. Square Capital helps keep independent businesses like ours running and growing.”

In a recent survey of over 1,000 Square Capital businesses, 85 percent said they are “extremely likely” to recommend the product to a friend. Square’s Capital pilot advanced tens of millions of dollars in capital to thousands of Square businesses, according to the press release. Sellers actively running their business with Square may be able to participate in Square Capital, based on their processing volume and history with Square. The first step to becoming eligible for Square Capital is to download Square Register for either iOS or Android and start running a business using Square.