eBay

merchandiseliquidations · ‎11-22-2018

Has anyone here been invited to apply for square capital? We just submitted the bank statements and other information and received an offer. We accepted it and then had to submit a credit app. What is weird to me is that it states they do not pull any credit reports or put a hard inquiry on your credit account. At the bottom of the email it states based on credit approval. Just a bit strange to me based on the FAQ on the square capital website. Im not concered about a credit app being submitted more so just curious if these loans now will appear on credit reports and will hurt personal loan options outside of the business. Any info anyone has would be appreciated. Thanks

dasarock · ‎06-21-2019

@tools*

that is a hefty interest rate ... hope you make plenty of profit over it.

brickbuybrick1 · ‎06-24-2019

I got the invite and didst fill it out now I cant find how to apply ?

dhuntpd37 · ‎06-27-2019

Its working out great for me so far. On my 3rd month of payments. The loan is paid off over 6 months. It was easy to apply and the money was deposited the next business day. I still prefer Paypal Working Capital loans though. I have taken 3 of them over the last several years and to me, its easier to have the repayment come out with each sale consistently rather than 1 large monthly payment. But that is just my personal preference.

bmdcity · ‎07-27-2019

I'm paying 4750 back on a 4400 loan. I dont think that's much and if you cant double or triple the money within a few months then you shouldnt bother taking the loans. For us they work great. I have multiple loans out and have no trouble paying them because we buy crazy amounts of inventory and we grow are production machines. Anyone who thanks that is alot of intrest is nuts. The amount you can make is unreal compared to the small amount of intrest. Unless your selling in a flooded market you shouldnt have a problem tripling your loan by the end of the term.

bmdcity · ‎07-27-2019

Yea we do the PayPal loans as well and they are the best because they deduct it from your sales and theres never a need to have to come up with the cash or move money. We are on our 3rd and cant wait for the next one which should be around 40k. We will be getting a brick and mortar store with that if all goes well.

sd-brightis · ‎09-25-2019

Ppal capital

dasarock · ‎09-25-2019

I would be very careful re applying for square capital or payal capital loans right now if you sole selling venue is ebay. ebay seems to have a long way to go still with "managed" payments...

rcmadiax · ‎10-21-2019

Were you able to get another loan? My last payment is coming up and I want to be able to get another right away.

djgoldenheart · ‎10-21-2019

yes it took a couple days to get the offer from them

webwanna · ‎10-22-2019

Square Capital sounds horrible. I have had 7 Paypal loans and love them. So easy, no credit checks involved, no reporting to credit agency.... plus I think my Paypal loan might be the only reason Ebay hasn't forced me into Managed Payments yet. I think when this one is up I'm going to try to get another the same day to hopefully delay the transition to Managed Payments to 2021....

Managed Payments sounds like a train wreck. This past week sounds like a bunch of people had their money held by Ebay for 5-7 days with no explanation. I would have to change my handling time to 5 days just in case Ebay decides not to release payments....

a_c_green · ‎10-22-2019

@rcmadiax wrote:
Were you able to get another loan? My last payment is coming up and I want to be able to get another right away.

I would think that if you are paying off the loan on time, they'll be falling all over themselves to offer you another. I think you'll be hearing from them, and won't have to go out looking for them.

P.S. As a repeat borrower, you might be able to negotiate a better rate this time. Wouldn't hurt to ask.

djgoldenheart · ‎10-22-2019

it takes a couple days for them to send you a new offer but they will you just need to wait for the offer i am on my 2nd loan with square capitol

duckdiver123 · ‎10-28-2019

" Managed Payments sounds like a train wreck."
For my business it's a dumpster fire sitting on the train tracks.....
Twice in two days I received a "Update your banking info- No more payouts", even though I sent banking statements yesterday, and Ebay thanked me for doing so.
The kicker is my account received the first two payouts, but not the next four over $2200.