thread Re: Does Square offer in-house financing for my customers to purchase my inventory? in Archived Discussions (Read Only)

Does Square offer in-house financing for my customers to purchase my inventory?

WindhamPower — Wed, 19 Apr 2017 20:30:15 GMT

I sell ATV's, Snowmobiles and Small Engines and have customers asking all the time if I finance? Does Square offer this as an option for my customers or do I need to out source it? Thanks

Re: Does Square offer in-house financing for my customers to purchase my inventory?

Evilmuffin67 — Wed, 03 May 2017 05:42:12 GMT

Have you found anything about this? I'm searching for an answer myself. I'm an automotive technician and sell pretty big tickets, and would like to offer that service.

Re: Does Square offer in-house financing for my customers to purchase my inventory?

VanKalkerFarms — Wed, 03 May 2017 12:43:52 GMT

No, Square does not offer financing to your customers. But they do have a Capital program that can offer you loans against your future sales.

https://squareup.com/capital

Re: Does Square offer in-house financing for my customers to purchase my inventory?

Kpay — Thu, 25 May 2017 21:02:58 GMT

@Evilmuffin67, @VanKalkerFarms has got it right - we don't currently offer financing for your customers. If that ever changes, we'll make sure to update this thread to give you a heads up. Thanks for letting us know how you'd use this feature!

Re: Does Square offer in-house financing for my customers to purchase my inventory?

jsfranklin221 — Fri, 07 Jul 2017 18:10:53 GMT

To my knowledge, Square does not. Check out Blispay (https://blispay.com/merchants). No additional cost to offer financing to your customers beyond your standard credit card processing fee's.

Re: Does Square offer in-house financing for my customers to purchase my inventory?

Chad — Thu, 25 Apr 2019 15:48:59 GMT

Square does have a new program called Square Installments.

With Square Installments, eligible customers increase their purchasing ability and can buy more from your business. You get paid in full, like usual, and your customers make fixed monthly payments to Square Capital.

At this time, Square Installments is only available to select Square Sellers located in Arizona, California, Colorado, Connecticut, Florida, Georgia, Illinois, Kentucky, Louisiana, Massachusetts, Michigan, New Jersey, New York, North Carolina, Oregon, Pennsylvania, Tennessee, Texas, Utah, Virginia, and Washington. Although, our program is constantly growing! We’ll be sure to keep you informed if we expand to additional states.

Keep in mind that due to program restrictions not every Square merchant will have access to enable installments for their business. Visit the Support Center for Square Installments FAQs!

Re: Does Square offer in-house financing for my customers to purchase my inventory?

Chad — Mon, 10 Jul 2017 23:24:20 GMT

Hey @WindhamPower, @VanKalkerFarms, @lgm, and @jsfranklin221 check out my answer at the top of this thread for customer financing! 😀

Re: Does Square offer in-house financing for my customers to purchase my inventory?

jsinger1 — Wed, 13 Sep 2017 04:17:17 GMT

Hi, I am in Colorado and would love to offer Square Installments to my customers. How do I sign up for this? Thanks! Josh

Re: Does Square offer in-house financing for my customers to purchase my inventory?

HeatherSweetD — Thu, 14 Sep 2017 12:25:33 GMT

So in a year we'll have this feature with an additional cost right?

Re: Does Square offer in-house financing for my customers to purchase my inventory?

Chad — Thu, 14 Sep 2017 21:40:34 GMT

Hello @HeatherSweetD, as of right now we are trying to expand to more states, but this is a highly regulated form of lending. I don't have a timeline for availability in other states and as of right now there are no fees associated with Square Installments.

Re: Does Square offer in-house financing for my customers to purchase my inventory?

jsfranklin221 — Mon, 18 Sep 2017 17:22:43 GMT

@jsinger1, @HeatherSweetD You can give your customers more time to pay with the help of Blispay (https://blispay.com/merchants) and still process credit card payments through Square. There are no additional costs beyond your existing Square processing fees.

Consumer Financing Options for Payment (Square Offering)

atozmedical — Tue, 26 Sep 2017 18:37:27 GMT

I have seen online that Square is offering Consumer Financing as an option to what seems like random sellers. Basically whenever you send an invoice via email, the customer receives a "Pay Now with Credit Card" OR "Finance with Square at X.XX% financing". This would be invaluable to my business and I am looking to see how I can opt in!

Also if this could be integrated into the checkout for Magento 2.1 that would knock this product out of the park!

Re: Consumer Financing Options for Payment (Square Offering)

Chad — Fri, 29 Sep 2017 02:01:59 GMT

Hello @atozmedical.

Square installments isn't necessarily handed out randomly, but it depends on where you live. Take a look at my answer on the first page and let me know if you live in an approved state! 😀

Re: Consumer Financing Options for Payment (Square Offering)

atozmedical — Fri, 29 Sep 2017 02:26:51 GMT

Unfortunately it's not offered in Texas yet

Re: Consumer Financing Options for Payment (Square Offering)

AHoffNYC — Fri, 29 Sep 2017 16:05:08 GMT

Hi Chad. My invoice DO hve the option to pay in installments, but I prefer not to have that option. Is there a way to remove it?

Re: Consumer Financing Options for Payment (Square Offering)

Tom — Fri, 29 Sep 2017 18:18:57 GMT

Hi @AHoffNYC, thanks for getting in touch. I wanted to jump in and let you know that a member of our Capital Team will reach out directly. Keep an eye on the email inbox associated with your Square account for updates.

Re: Does Square offer in-house financing for my customers to purchase my inventory?

HeatherSweetD — Wed, 04 Oct 2017 14:06:35 GMT

When can we have this feature in Kansas? I don't understand why we always have to wait years for new features.

Re: Does Square offer in-house financing for my customers to purchase my inventory?

HeatherSweetD — Wed, 04 Oct 2017 14:10:44 GMT

I mean, we desperately need this feature.

Re: Does Square offer in-house financing for my customers to purchase my inventory?

puka — Thu, 05 Oct 2017 18:28:42 GMT

Hey @HeatherSweetD, as Chad stated in his previous reply to you, this a highly regulated form of lending which directly affects our ability to expand into different states. As a result, we don't have any ETA on if or when this might be available for Kansas at this time, but we will make sure to announce any updates as we receive them.

Re: Does Square offer in-house financing for my customers to purchase my inventory?

Shannon11 — Tue, 10 Oct 2017 18:08:33 GMT

This reply was created from merging an existing thread: “How do I remove the monthly payment option on an invoice?” The original author has been notified via email.

I just sent out an invoice for $750 and when I viewed the invoice online after it was sent I saw it gave the client the option of paying in full or paying in monthly payments. I don't want there to be an option of monthly payments it should be paid in full. I can't see where I can make this change. Can anyone please help?