square capitol ?

[rcri]

What happened to square capitol we used it for years now business is up 10 fold they say its based on business LOL really were up very high for past 5 months. Wish you get straight answers. 

[ecantiques5]

@rcri 

Square ended( but they use words like "reduced")  the Square Capital that thousands & thousands of Square sellers utilized to grow their businesses. They dropped us like hot potatoes when the covid experience began. Very sad all the way around. The fact they consistently respond to seller's out cries regarding the program with repetitive carefully worded responses. 

If you have other Capital options available to you, do what serves your business needs BEST.

When we paid off our 10th loan,by still processing revenue during covid, one of the great things we have enjoyed is no Capital repayment percentage coming out of our daily revenue.. it is great just having the 2.95 coming out of our revenue proceeds.

It does hinder those looking for product purchases or expanding opportunities.

Wishing you all the best as you navigate your business through  2020😊

[Capnmorgan70]

This doesnt make business sense. They are making 10% minimum on the money they loan. During this time, they should be making offers to all their best customers. I understand Covid has hurt many businesses, but for mine, its my best year ever. So yes, I dont mind not paying back interest. lol. Good luck Square! 

[trtprinted]

My loan is at 84% and asked them about it through their text option,  I should have took a screen shot, I was informed they are not doing any loans at this time.  I then asked to confirm the details of cancelation of processing as I may end to go elsewhere now.  They were very helpful and said they understood customers having to leave them.

While I appreciated the candor I was very surprised as usually it is always a very generic structured response.

I asked when they would be providing Capitol again and they said they did not know.

It is my understanding PayPal is still offering to their customers, guess I should have went there when I had the chance but chose Square instead.   

[edwardsgroupnc]

We used the capital loans for years and always paid them back early then one day nothing I never even got a email from them about it. We do around $100,000 a year in Cards transactions so we have moved around 98% of our business to Paypal they have lower rates and I've been able to get replies on any question I have. They offer Capital loans and even business loans so since we don't matter to square we are staying with someone else.

[Kay314]

Do they have a pos?