How to get first capital offer

SpoiledRotten · ‎09-10-2017

How long after signing up for square can you get your first capital offer? I signed up about 5 months ago and have been processing payments for a little over three months. I recently hit the $10k requirement, I process payments 2-3 days a week and have a mix of repeat and new customers. Was wondering when I should expect to receive my first capital offer?

ecantiques5 · ‎09-11-2017

@SpoiledRotten

Congratulations on growing your business! I would consider reading over some of the threads posted within the seller Community boards regarding Square Capital and it's evasive eligibility. The program is not one that is based on your good standing, your history, your mix of new / returning clients or low charge backs. The capital program refers to these " standards" as

" how to get noticed" criteria. However; just because you, meet or even exceed the get noticed standards there is no guarantee of any Capital Loan Offer from Square. A machined algorithm is used to determine who will, who won't. It is basically a " don't ask us, we will tell you "when you are eligible to participate.

My caution to you would be, if your need for growth or expansion is iminent, Do Not rely on a Square Capital offer. Perhaps look into more traditional transparent capital sources like your Business Checking account institution.

We have been with Square since 2012 have had 5 opportunities for Capital extended to us, we meet and exceed the valued seller standards, but we have yet to receive another offer at nearly being 100% repaid.

But perhaps since you are a new Square Seller that is doing awesome they may get an offer right out to you, which I hope they do, but just don't become business wise dependant on their Loan Offers.

Wishing you all the best!

Faye