Square Card & Mastercard are covering $1M in Square Card spend throughout June!

[MargueritteH]

Hi Seller Community,

To help support the Square community, we’re partnering with Mastercard® to cover $1 million in Square Card spending over the next four weeks. To be eligible, simply spend with your Square Card—you'll be automatically entered for a chance to have a prior week's card spending credited back to you during June. Official rules apply.*

Don’t have a Square Card? Sign up today! It’s a business debit card tied directly to your Square Balance, so you can instantly access the money you process with Square—for free. Skip the wait and the instant transfer fees when you use Square Card. Once you order your card, it should arrive within 7-10 days, so you may still have a chance to enter the giveaway. Here are the steps for signing up today: 

1. Navigate to the Balance tab of your Square app or your online Square Dashboard.
2. Select Square Card > Get Your Square Card.
3. Personalize your card.
4. Verify your shipping address.

Keep an eye out for an email, in-app notification, or Dashboard banner to see if you’ve won. Winners will be announced over the next four weeks and will see the credit reflected in their Square Balance.

Learn more about Square Card.

Let us know how it's going and don't hesitate to reach out if you have any questions!

* NO PURCHASE NECESSARY TO ENTER OR WIN. Sweepstakes begins at 12:00 a.m. PST on 6/1/20 and ends at 11:59 p.m. PST on 6/30/20. Open to legal residents of the 50 U.S. and D.C., who are 18+, and are either an owner or authorized employee of a registered Square seller. Automatic entry with qualifying purchase. To enter w/o purchase, send email to SquareEntry@CSM.com.  Winners randomly selected weekly, up to $250,000 in prizes per week. See Official Rules for full details including eligibility, weekly periods, odds, prize description & limitations. Void where prohibited or restricted by law. Sponsor: Square, Inc., 1455 Market Street, Suite 600, San Francisco, CA 94103.

**Mastercard® is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.

***If you have any questions, please contact the Sweepstakes Administrator (sweeps@csm.com).

[TheSavvyDog]

I bet a whole lot of Square users would rather you 86 this program and bring back Square Capital.

[jasonaudio]

Is Square Capital a no longer existent thing??

[TheSavvyDog]

According to another thread, a Square employee "confessed" that they are no longer doing Square Capital.  There haven't been loans for months - in fact, some folks that had received offers had them abruptly pulled, without explanation.  So, yes.....I'd say they've discontinued the Square Capital program.... I think they were hoping that the SBA PPP and EIDL programs would pick up that part of their market.  Go back and read through the threads.  Search for anything "Capital."

[jasonaudio]

Darn!  That explains the offer received awhile back, but nothing since.  Bummer.

Thanks for the insight!

[METL]

They probably pulled Square Capital loans because a ton of loan payments are late right now. I have a loan from last year and all of a sudden my business dried up and for the 1st time ever, I did not meet my minimum re-payment (they deduct from your sales). And because of the pandemic, they are not deducting the money from bank accounts when you don't meet the amount due from sales (thank God). Therefore, I'm sure this created a huge lack of funds they expected to be repaid, so it makes sense they stopped giving loans. Especially, when they are probably concerned that those requesting loans now won't have the ability to repay, since repayment starts immediately. Sadly, this pandemic is really hitting us all hard. Praying for it to be over. 😞

[mysticcoffee]

A couple/few weeks before the lockdown, I started checking up on my potential funds available with a loan from Square Capital and I started making a plan to use some loan money as a cushion if I needed it. I was qualified for a decent amount. More than I needed. Then one week later when I was about ready to go for it, BAM. Though the link for Square Capital was still on my screen, suddenly the message I saw was that I didn't qualify for any loans at this time. I imagine a lot of businesses were thinking the same thing I was and may have taken so many loans that the Capital folks got nervous. I managed to get a line of credit from Cabbage, that I would use only if necessary. But then THAT got canceled. Their excuse was that some government loans were coming up that they thought small businesses would be better off with. A week or so later the CARES Act was passed and PPP loans were immediately swallowed up by not-so-small businesses. I was pretty panicked. I finally got one during the 2nd round and things are OK for now. But what an emotional roller coaster. Just goes to show you the folks with the money are not going to take a chance on small business. Ever. 

[TheSavvyDog]

Yup....we're good enough to make money OFF of....and help build THEIR business.  Push comes to shove...we're expendable.

[KatReyes]

Anything helps - I hope I am one of the lucky winners!

[Jeffrey_diaz198]

Thanks 

[METL]

I wish they would 86 this program and and spend $1M giving us free processing. That would help a lot!