Food for Thought with Square Capital.

[Minion]

I'm fairly new with Square, less than two years. I switched over from PayPal and Stripe for reasons that I just don't like to use PayPal from a Seller standpoint. 

I currently deal with spray in bedliners, vehicle undercoating and epoxy flooring using Square to send invoices and estimates to my customers. So i don't get to much of a return customer unless they got one service, and then they decide on another. 

So Prior to Covid, I had already

-Reached my 10k in sales processed with square.

-Healthy mix of new and a few returning customers.avg.1.20

-Steady sales increase

-Increase in avg sale amount as pricing has changed

-no charge-backs.

As of today, I still get the same answer, like I am sure many of you do as well.  Keep processing and your account is reviewed daily. It is a bit frustrating, but i do get it. I enjoy square as it really is close to a "one stop shop" for all my business needs, (Implementing a docu-sign like feature with contracts would be awesome btw) 🙂

I do business with a couple local dealerships, and get plenty of checks that are deposited into my business account.  So maybe it is a possibility in the future fro square capital to also look into reviewing bank accounts that are linked to a seller's square account as well.  This could help with increased eligibility and also be a fail safe for repaying the loan.  (I've had working capital loans from Kabbage in the past, and this was one of the things they looked into as well)

I know that the algorithm for the square capital is complex from what I have read numerous times, but just some food for thought for the square capital team that may or may not help sellers like myself in the future who have a 50/50 mix of processing sales. 

[Laura123]

Hey @Minion, thanks for your question! We appreciate your interest in Square Capital. I'll followup with you via message.