What does Square Capital do well? Square Capital has made securing financing against future receivables a snap. Qualifying accounts are automatically updated with a notice that funds are available. From there, selecting from several different amounts and varying payback percentage is easy. It's a form of factoring with much of the application process eliminated since Square already has your accounts receivable data.
What does Square Capital not do well? Most organization leaders are trained to think in terms of annual rates. Square's processes don't show these rates. Instead, you'll have to use your own A/R forecast, calculate the amount that will be withdrawn from each payment and then calculate the rate.
What do you wish you had known about Square Capital before using? Like many of its offerings, Square deals based with small, daily transactions. A business with larger monthly or quarterly payments may start receiving emails asking when the next payment will be made. They're automated and easily dealt with, but shouldn't be part of the process since Square already knows your payment cycles.
Have you used a competitor to Square Capital? If so, how does it compare? This is a much easier process than traditional financing and is fast. It's also more expensive.