#square capital

[businesswireindia]

MyAdvo, India’s leading Legal Tech Startup has entered into an agreement with Square Capital, the digital lending arm of India’s largest real estate transaction platform Square Yards to enable loan facilitation for lawyers on its panel.

[businesswireindia]

Square Capital, mortgage advisory platform of India’s largest real estate transaction advisory Square Yards, announced that it has integrated its systems with a major credit reporting bureau to provide free credit information to clients and help them in speedy disbursals of loans.

[suppliertynews]

Square Capital and its $1 Billion commitment to Small Businesses

Have you ever used the Square card reader to make a payment at your local boutique store?   If so you are helping support thousands of businesses throughout the nation.

According to a recent report, “Square Capital has lent $1 Billion in cash advances and loans to more than 100,000 businesses.” Square was founded by Twitter CEO, Jack Dorsey and began lending cash in 2014. To determine whether a company is qualified for funds, Square reviews key statistics of the company including revenue and cash flow.

Square recently reported a 70% jump in loans from 2015. At the most recent quarter, the company has processed 35,000 loans totaling $208 million, with the average loan size hitting about $6,000. With this, Square Capital has reported a revenue increase of 140%, or $33 million since 2015.

-Ray Hayes

[marketexclusive]

Three Cheapest Lending Options For Small Businesses

A small business might never know when the need for cash or extra capital could emerge. Under such circumstances, an entrepreneur might find applying to a bank as cumbersome and would want a better and cheaper alternative.

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Here are some of those alternatives listed that could help a business just in time.

Square Capital – If a business is into offline or online retailing, then seeking funds from Square Capital could be the best option available. The lender offers funds up to $50,000, but a business needs to have a Square history to be eligible for the loan. Further, the lender offers loans on invite only. Therefore, an owner should have a valid email received from Square to proceed. The lender has simple repayment terms as it will charge a specified percentage of daily card sales. Square Capital’s APR of 35% is cheaper than other lenders.

Working Capital Through PayPal– A business using PayPal can easily get an affordable loan given the unique model considered by the lender for disbursing loans. PayPal evaluates business sales history and offers loans up to 15% of the total annual sales through PayPal. The repayment is a fixed percentage of daily sales. Since the loan amount could be limited, the loan option is apt for meeting small business expenses quickly.

Equipment Leasing – If a business needs to buy equipment for running its operations then it has two alternatives to choose from. Firstly to go ahead and buy the equipment or acquire it through leasing. The second alternative can effectively help a business to acquire equipment without having the need to raise substantial capital. Leasing can be of three types, i.e., fair market value, $1 buyout and 10 percent option lease. Under leasing, the equipment is kept as collateral. Therefore, it is a far more affordable option than other types of lending, which does not include collateral. Moreover, a business pays less if it chooses not to purchase the equipment later at the end of the lease period.

Three Cheapest Lending Options For Small Businesses was originally published on Market Exclusive

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Square, building on its knowledge of businesses’ revenue, expands cash advance program

Square‘s core business, providing credit card processing to small businesses, means it knows all about their revenue. It has built a cash advance operation based on that knowledge, and today it is announcing an expansion.

The financial startup has announced a deal with Chicago-based Victory Park Capital that will extend hundreds of millions of dollars to Square Capital. Victory Park specializes in providing financing for small- and middle-sized businesses.

“This speaks to the value of Square’s data, which provides a unique [understanding of these small businesses] that others don’t have,” a Square spokesperson told VentureBeat. “We’re in a unique position, able to see money coming in and going out, so we don’t need to spend months” like banks do to assess the risk.

The new funding, she said, will allow Square to “reach out” to more merchants. To date, Square has invested $50 million of its own money in the program, and says it has assisted more than 10,000 merchants.

Before Square Capital was launched, the spokesperson said, participating small businesses told Square that they wanted access to small amounts of funds to help with cash flow, without going through bank applications that could take up to a year — after which they still might not get the money.

Square also said the businesses wanted a fixed payback amount and they preferred to pay back less when revenue was down, instead of a fixed amount each month.

The resulting Square Capital program, which began as a pilot last year and was officially announced in May, provides several specific choices to a participating merchant.

Logging onto their account, the merchant might see, for instance, the possibility of $4000, $7000 and $10,000 in cash advance choices. Payback totals for those amounts might be, as an example, $4560, $7980, and $11,000 respectively.

Payback is through a percentage of the merchants’ credit card receipts to Square, such as 10 percent. If business is very good, Square might increase payback within its terms. Payback is based on revenue, so there is no set payback time.

“Every offer is unique, based on a variety of factors,” the spokesperson said, including the business’ history with Square, processing volume, and growth. Costs average 4 to 10 percent of the advance, but a merchant “can’t mix and match their options,” she told us. Square generates three unique offers, and the merchant can choose one or not. Most amounts are under $10,000, but there is no official max.

Some Square-watchers have contended that, since payback might be accelerated if a merchant is having a great month, the effective cost of the money — compared to the annual percentage rate (APR) of a loan — could be the equivalent of, say, a 28 percent interest rate over a six month period or even a triple digit rate if paid back in one very good month.

But Square says this is the wrong way of looking at their program. “It’s not a loan,” the spokesperson told us, because there is no set payback period. “It’s an advance” against future sales, she said.

Instead, Square sees this as a cash product. You buy the product, which happens to be $10,000, for $11,000, and then you pay it back as a percentage of your proceeds. The price of the product remains the same, and, if your business takes a dive through the summer months, your payback amount drops accordingly.

We’re studying digital marketing compensation: how much companies pay CMOs, CDOs, VPs of marketing, and more, with ChiefDigitalOfficer. Help us out by filling out the survey, and we’ll share the results with you.

Square is a revolutionizing millions of everyday transactions between buyers and sellers with its free credit card reader for iPhone, iPad and Android devices. Square for iPad services as a full point of sale system for business to acc… read more »

[technobuffalo]

[micdousmi]

Square's New Business Strategy: Lend Money To Small Businesses

Square’s New Business Strategy: Lend Money To Small Businesses

Square is doubling down on small business The San Francisco-based mobile payments company — which relies primarily on small business clients for its own revenue — announced Square Capital on Wednesday, a new cash-advance program for funneling money into small businesses in need of a loan See also: Inside Square’s Massive New San Francisco Headquarters Square won’t require small businesses to…

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Square's New Business Strategy: Lend Money To Small Businesses

Square is doubling down on small business

The San Francisco-based mobile payments company — which relies primarily on small business clients for its own revenue — announced Square Capital on Wednesday, a new cash-advance program for funneling money into small businesses in need of a loan

See also: Inside Square's Massive New San Francisco Headquarters

Square won't require small businesses to actually apply for a cash advance. Instead, it will approach companies that use its Square technology to process payments with cash advance offers. Each offer will be unique, says Square's Product Engineering Lead Gokul Rajaram, and Square will base the proposed capital amount and expected return on each company's sales data that Square has access to Read more...

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