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This was the "Aha!" part for me: > Get a customized offer based on your card sales through Square, and then choose your loan size. and then a bit further down

by pdpi 5y ago

This was the "Aha!" part for me: > Get a customized offer based on your card sales through Square, and then choose your loan size. and then a bit further down: > Repay it automatically with a percentage of your daily card sales through Square. Such an incredibly obvious idea in hindsight. While I can see why putting all your eggs in one basket like this can pose something of a problem, there's no denying this level of integration is amazing for a small business.

csa 5y ago
Stripe has been doing this for at least a few months now… maybe since last year. It’s a nice feature. Frankly, PayPal has been doing a version of this for years where they would put a hold on your funds and then (usually) offer you a loan that would cover most/all of the money held. Of course, they called all the shots, but the idea was there.
- mchusma 5y ago
  It's a very expensive loan though. I did the math on our stripe offer, and it was o
  - yesimahuman 5y ago
    Yea, we recently got a Stripe Capital loan offer, but it didn’t seem compelling at all. We’re clearly not their target customer for that but as a tech startup doing SaaS I kind of figured we would be their target customer. The offer was orders of magnitude less than our ARR on that account.
- mchusma 5y ago
  It's an expensive loan though. Stripes offer was about 45% APR, which was higher than Kabbage, Fundbox, and a host of other fast/easy loan providers.
clint 5y ago
This is something PayPal has offered small businesses for probably close to a decade now.
- echelon 5y ago
  But then you have to interact with PayPal. PayPal burned me repeatedly as a teenager. Locked funds, some never recovered. I didn't do anything wrong. Never. Again. Maybe some people don't harbor this grudge, but to me PayPal is the epitome of incompetent and evil. Venmo, all of it.
  - kyawzazaw 5y ago
    Venmo is crucial to college life.
- onos 5y ago
  So has square through a different mechanism, “square capital”.

by pdpi 5y ago

csa 5y ago

Stripe has been doing this for at least a few months now… maybe since last year. It’s a nice feature. Frankly, PayPal has been doing a version of this for years where they would put a hold on your funds and then (usually) offer you a loan that would cover most/all of the money held. Of course, they called all the shots, but the idea was there.

mchusma 5y ago
It's a very expensive loan though. I did the math on our stripe offer, and it was o
- yesimahuman 5y ago
  Yea, we recently got a Stripe Capital loan offer, but it didn’t seem compelling at all. We’re clearly not their target customer for that but as a tech startup doing SaaS I kind of figured we would be their target customer. The offer was orders of magnitude less than our ARR on that account.
mchusma 5y ago
It's an expensive loan though. Stripes offer was about 45% APR, which was higher than Kabbage, Fundbox, and a host of other fast/easy loan providers.

clint 5y ago

This is something PayPal has offered small businesses for probably close to a decade now.

echelon 5y ago
But then you have to interact with PayPal. PayPal burned me repeatedly as a teenager. Locked funds, some never recovered. I didn't do anything wrong. Never. Again. Maybe some people don't harbor this grudge, but to me PayPal is the epitome of incompetent and evil. Venmo, all of it.
- kyawzazaw 5y ago
  Venmo is crucial to college life.
onos 5y ago
So has square through a different mechanism, “square capital”.