Does square review accounts daily for new capital offers?

[Amyrev]

The title of this thread has been edited from the original: Capital

Does square review accounts daily for new capital offers? Also what keeps customers interested in square if they need the capital but cant get an offer..I guess what i am asking is what is the motivation to stay with square if what you need is not being met

[ryanwanner]

While I don't know the finer details of the Capital program--you'd have to contact their support team for that--I can tell you that Square does monitor your financial situation on quite a regular basis. One Capital offer I had got reduced one day after I had to have my shop closed for two days due to power issues.

The capital offers are given out only after your business meets certain criteria. The most important one would be Square's faith in your ability to pay back the loan in 12-18 months. If your sales are fluctuating wildly, this may slow down or stop Square from offering a loan. Age of your business is another good one. Historical data always makes it easier for Square to make a decision.

Square is definitely here to see you succeed, but like it or not they're a money-making business as well. They're going to be careful loaning money out. But, from experience, I can tell you that Square is A LOT easier to work with than banks. I'm still waiting to hear back from my bank about a Line of Credit, and I applied over a month ago!