square vs paypal

[rzrshop]

I really hate to switch but I cannot get a straight answer from Square about getting accepted for another capital loan, I had paypal in the past and once a loan is paid off you can reapply, and it truly is based only on sales. Square says their loans are too but my sales are higher, my customers are 50/50 new and returning and I have only 1 return all year.

[DaoDeJing]

Sorry to say, I don't think you can ever expect to get a definitive answer about getting another capital loan. But for that matter, I also seriously doubt you could get a definitive answer from PayPal or any other lender either.

If you'd like to try another payment processor, by all means go ahead. I've tried a few, and am always looking at other options just in case circumstances change. I'm by no means convinced Square is always the best solution.

I would personally be wary of using PayPal however, as they are notorious for never helping sellers in charge-back disputes. If you use PayPal, and a customer disputes a charge to their card, you will simply be out of the money without any recourse.

Not that Square can always help defend against a charge-back of course, but at least they would do what they can. But PayPal won't lift a finger for you. They'll simply take the money from your account and ignore any complaints you might make.

[rzrshop]

I am just frustrated when I got the first offer I wasnt really even needing one and I didnt realize when I really need one it would be so difficult,  the only that has changed since beginning of the year for the worse is credit score

[DaoDeJing]

That may have been the only change on your end, but I believe Square Capital loan offers also vary based on wider economic factors (stock market performance, federal interest rates, etc.) as well as whether Square is doing some expansion or hiring, or otherwise using their available money in different ways.

So it may not have anything negative to do with you personally. But it's still extremely frustrating, yes.