@BodyInBalance I will agree with you 100% as a matter of principle, here.
However, I guess that is something that this “old Boomer” can’t quite understand. I’ve never expected my lender or my banker or anyone else I have a professional relationship to care about anything other than my business. I don’t care whether they are personal or caring, or not. Again, to this old Boomer, misconceptions that Square cares (or anything like that) say less about Square and more about the other person in the “relationship.”
I’ve spent my entire very long life taking it upon myself to read about the economy, every day. To learn about how the world of high finance works. Etc. I believe that all serious business owners need to do that and to always be informed.
Sure, Square’s metrics for loan worthiness are somewhat vague, but they are no different from any serious, competent lender in this regard. I’ve had plenty of “real banks” turn me down for loans over the years that I qualified for by “checking all the right boxes” with my business stats. It’s just the way the money lending business works. Trust me, I know it doesn’t seem fair or right, but it is what it is and it isn’t just Square. I’m betting that Square is moving much slower for certain business types, too. I read an interesting article (Barron’s, I think, but not sure) that outlined business types that should weather the coming recession just fine and others that will be wiped out. If Square is smart, they are reading and digesting the same professional information.
Having said all of that, you are right. I think that Square’s communication skills — especially in this area — could use some improvement. I’ve told them so through back-channels and will continue to do so. I’ve even started working up some suggestions in that area. But, in reality, Square is not responsible to educate us about what it going on with the economy. From what I’ve seen, even if they do someone will always argue that they, somehow, are different from everyone else in the economy.
It’s tricky. And I’m not arguing or disagreeing with you, so please don’t take it that way. I’m just muddying the waters more!
Chip A.
Square Expert & Innovator and member of the Square Champions group. (But NOT a Square employee, just a seller like you)
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