JSFiddle - React, Tailwind, and code Playground

HTML

<div class="loader">
    <div class="square"></div>
    <div class="cutter">
        <div class="spinner">
        </div>
    </div>
</div>

CSS

.loader {
left: 29px;
top: 29px;
z-index: 100;
}
.loader, .loader * {
position: absolute;

}
.loader {
  width: 40px;
  height: 40px;
  border: 15px solid #dcdada;
  border-top: 15px solid none;
  -webkit-animation: loader 2s linear infinite;
  animation: loader 2s linear infinite;
}

.square {
  width: 40px;
  height: 40px;
  background: #f3f3f3;
  z-index: 1;
}

.cutter {
  width: 70px;
  height: 70px;
  left: -15px;
  top: -15px;
  overflow: hidden;
}

.spinner {
  width: 0px;
  height: 0px;
  border: 50px solid transparent;
  border-top: 50px solid #5cb85c;
  -webkit-animation: spin 1s linear infinite;
  animation: spin 1s linear infinite;
  left: -15px;
  top: -15px;
}

@-webkit-keyframes loader {
  0% { -webkit-transform: rotate(0deg); }
  100% { -webkit-transform: rotate(360deg); }
}

@keyframes loader {
  0% { transform: rotate(0deg); }
  100% { transform: rotate(360deg); }
}

@-webkit-keyframes spin {
  0% { -webkit-transform: rotate(0deg); }
  100% { -webkit-transform: rotate(-360deg); }
}

@keyframes spin {
  0% { transform: rotate(0deg); }
  100% { transform: rotate(-360deg); }
}