Requesting Possible Square Capital Loans Webinar F...

ecantiques5 · ‎08-14-2017

We have been a loyal Square subscriber since 2013. We have watched as Square has over the years implemented many new product features, seller tools and marketing strategies to help make Square a small buisness owners best choice for POS card processing. But I feel there is improvement to be made in your capital loan program and it's accessibility to Long Term, High Volume, Low Charge Back

ecantiques5 · ‎08-14-2017

Sorry I am new to posting in the seller community forum, and my post was not completed and accidentally posted as such.

But to continue my request for a possible Webinar for the Capital Program and renewal offers, I would like to try to help Square, Other Sellers and myself understand how that we could work together to improve the auto repsonse vagueness, the abiguous algorithms, and veiled methodology that it seems more and more long term, high revenue sellers are experiencing. We have been with Square for several years since 2013 ( moved to Square exclusively after being with paypal for over a decade) ... we have been ask to participate in many of your " pilot " runs of new features. Personally my frustration stems from my current 5th capital loan being paid at nearly 77% (our first loan through 5th loan all had renewal offers to come in at 68%-74% repayment percentages ) and we for some reason have not heard anything regarding what would be our 6th opportunity to put the Square Capital Loan Program to work for our up-coming busy season.

Here is what I do understand Square conveys to Sellers

1. There are no guarantees for square loan consideration. ( No matter how long standing, no matter how good standing your history is with Square or whether you are seeing month over month growth )

2. Computer generated Algorithms are utilized ( perhaps some consideration could be given to give your long standing, high revenue sellers. A more individualize approach to these evaluations would be very beneficial. Could emails be sent to touch base if a seller was needing to pay attention to particular area of the " special algorithm " that was perhaps delaying their consideration.

3. I fully understand " we will invite you if you meet the computer algorithm " if a seller is new to Square. It is perfectly acceptible to opporate the the program in that manor for newer users.

4. I am fully aware of the regulatory confines capital financing presents, BUT I can't help but just wonder if there is not room for improvement.

Ending on a positive note,

I would like to thank square for offering us the opportunity to try the image posting feature with our invoicing. I think it enhances buyer/seller communications and expectations to have image encrypted within the invoice.

And I really appreciate you allowing my customers to leave me positive feed back... received one today... and it was a perfect way to end the selling day!

Our Dashboards are so detailed with client ratios, daily sales, product breakdowns and I could go on and on with all the endless features you have that enable us to track and grow our business. Square Processing simply top notch. But... I do find myself just wondering if there is not some room for improvement in the Capital Program.

I do hope that my post is appropriate.... it is just a sugestion. If a post of this nature is not permitted, PLEASE delete it. I just want to see more and more small companies growing... I want Square to grow!!! I want us ALL to be the best we can be!

Chad · ‎08-15-2017

Hello @ecantiques5, I just wanted to start off by thanking you for taking the time to write this. I can tell you're passionate about making a change and I think you bring up some valid points. We know that there is always room for improvement across all products including Square Capital.

We are looking into hosting more webinars in the future, but I don't know what the topics will be yet. I will put in a word for Square Capital to be a topic, because this would benefit a number of other sellers. Although I can't guarantee it will be selected, and if it is we won't be able to go into the methodology that determines capital offers.

If you need help with anything else please let me know! 😀

ecantiques5 · ‎08-15-2017

@Chad

Hey Chad, thank you so much for your response. I am indeed passionate about all the small business owners being successful. As well I am passionate about placing our business with Square. I did not want to come off as complaining. I just wanted to ask if perhaps we as a community could come up with some possible ideas for making the capital loan program less evasive and more pleasant for your well established ( meaning processing history, revenue dollars, and low chargeback ratio) clients.

Again thanks for taking the time to respond and good vibes to SquareUp Inc. & all the Square sellers😊

Thomasr · ‎08-02-2018

Square should seriously consider longer than 18 month terms for well established Square businesses that have demonstrated a proven repayment history.

Square’s fixed percentage payback model can big a big burden for small businesses that collect larger transaction payments from their customer base.

Consider a 24, 30, 36, 48 month payback term with a Fixed daily or weekly payback.

Regina_B · ‎08-03-2018

Hi @Thomasr! Regina from the Square Capital team here. Thank you for your post! This is a great request and I will be sure to share it with my team. We rely on feedback such as this to better our products and services for our Sellers, so thanks again!

Requesting Possible Square Capital Loans Webinar For Long Term, Higher Revenue Square Sellers