Square "Line of Credit"?

[Chowie]

Square Capital is great and effortless.

Just thought that since we now have Square Capital, Instant Deposit/Transfer, Square Card....Wouldn't it be cool if there is a also a Square Line of Credit that gives us the flexibility to use, pay back, and use again??? that is even MORE flexible than Capital?

It's like a mortgage and then the option to have another equity loan/line of credit....

Any thoughts?

[VanKalkerFarms]

I 100% recommend a Line of Credit for your business, we have a very large multi-100 thousand RLOC for our seasonal business as we need to take in supplies in the months before we actually have income.  I don't know if Square will get into it, but it is a game changer for a business as you can hit it for 10 grand this month then pay it back and then hit it for 100 grand that month and pay it back in 2 months.  It is so cheap to borrow against as you are only paying interest on the amount outstanding for the time it is outstanding.  Way better than a conventional loan.  Go to some local banks and ask about them.

[Twpchair]

It seems like this has been asked many times, those of us that have been dedicated to square for years and have paid back all loans on time never missing a payment on our loans!!!!never once being late you think you could impliment a line of credit on your used portion of our square loan. even during covid 19 and being closed i hustled enough sales to meet my minimum payment!!!! thank you, Tammi Mallery

[Joe]

Hi there, @Twpchair - thanks for reaching out and adding your post here to the Seller Community. Good to hear from you again!

You are correct, it looks like you are not the only Seller who have voiced support for revolving Square credit. I've merged your post into an existing thread regarding this request.

We can definitely see how a sustained line of credit to businesses could be helpful! Our Capital Team is evaluating all options as the Covid crisis continues to develop. If we have news to share on this front, we will be sure to reach out and vocalize it here.

Thanks, again! 

[Twpchair]

Thank you!!!! Yesterday I received a message they archived it 😞 I absolutely love the idea if you have say 5-7k built up and need it simple reach out and let me know you got a great deal on merchandise or advertisements but need to act now it would be great!

[Twpchair]

I love it! I just posted the same thing yesterday but they archived my post they said 😞