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Do Nothing until You Read Our Professional SquareTwo Financial Review!

November 13, 2023
SquareTwo Financial Credit Suite

Read Our SquareTwo Financial Review and Use Our Tested Research So You Don’t Lose Out

SquareTwo Financial no longer exists. SquareTwo Financial sold its portfolio to Resurgent Holdings in 2017.  This review was updated on December 8, 2021. NOTE: Square (SquareUp) is changing its name to Block to acknowledge its focus on cryptocurrency and a broader mission beyond its merchant network.

We reviewed the SquareTwo Financial online lender. But there are three rather similarly-named players online. We look at the specifics for all three. We did this in order to cut through the confusion. Here now is our SquareTwo Financial review.

SquareTwo Financial Review: The Details on SquareTwo Financial

SquareTwo Financial engaged in asset recovery. Their subsidiaries purchase charged off assets from banks and other financial institutions. And then they placed them for collection with SquareTwo’s branch offices.

According to Bloomberg:

“It also purchases Canadian consumer credit charged-off receivables. The company was formerly known as Collect America, Ltd. and changed its name to SquareTwo Financial Corporation in December 2009. SquareTwo Financial Corporation was founded in 1994 and is headquartered in Denver, Colorado.”

SquareTwo Financial Review: Background

It used to be that SquareTwo Financial was located online  at squaretwofinancial.com. Their physical address was in Englewood, CO. You could call them at: (877) 304-0146.

Their website is currently not responding; so much of their basic information cannot be determined based on a simple check online.

Asset recovery

SquareTwo purchased outstanding accounts receivables from companies. But a bankruptcy of course threw a monkey wrench into any company’s plans to work with them.

SquareTwo Financial Review: SquareTwo Financial Bankruptcy

The company is currently (since March of 2017) restructuring under Chapter 11. Reuters says:

“SquareTwo reached an agreement with Resurgent Holdings LLC to take ownership of the debt collector’s portfolio of assets, with Resurgent agreeing to invest $405 million, according to the filing. 

SquareTwo Chief Operating Officer J.B. Richardson said the proceeds from the agreement would result in a final purchase price of $264 million in exchange for 100 percent of the equity of the reorganized company.”


The SquareTwo Financial website did not list fees when it could last be checked.

Check out our Credit Suite Credit Line Hybrid, where you can get up to $150,000 to help your business thrive.

SquareTwo Financial Review: Advantages

Advantages are hard to find; the company was basically a collections agency.

SquareTwo Financial Review: Disadvantages

Disadvantages included no transparency on fees. Also, they seem to be completely out of business, as even their website no longer responds. The company is allegedly in Chapter 11 restructuring.

But it is impossible to tell whether it will bounce back or if it is gone for good, or even if any other company will come in and buy the name or the company’s assets, or both. The SquareTwo Financial bankruptcy is currently ongoing. But there has been no news since the middle of 2017.

Another disadvantage is the similarity in names. It is easy to end up on the wrong site.

Square (Square Up)

This company provides options to take payments on the go. They are a business capital provider, but it must be through a loan offer.


Square is located online here: https://squareup.com/. Their physical main address is in San Francisco, CA. Square Up has offices in Canada, Japan, the United Kingdom, Australia, and Ireland. Their CEO is Jack Dorsey, who also runs Twitter.

Square Loan Offers

According to Square:

“Log in to your Dashboard to see if you have a loan offer. Application only takes a few clicks and there are no long forms to fill out or long waiting periods. All loans are subject to credit approval.”

Loan eligibility depends on a business’s history with Square. Square states:

“We look at many factors to determine where to extend loan offers. But generally, the more active you are on Square (and the more aspects of your business you run with Square), the more likely we are to offer you financing.” 

Loans are through Square Capital. But see below.

Square Advantages

Using performance as a part of the approval process for financing is a brilliant idea. For newer business owners, and for young adults, Square offers a chance to develop a reputation.

And if the business owner’s reputation at Square is a good one, then they will have a chance for approval.

In addition, getting an offer is effortless. All you have to do is be a good user of Square and you should become eligible (see above) and will get a notification in your dashboard. And that is a lot easier than trying to find a loan elsewhere.

Square Disadvantages

For businesses with a smaller amount of processing volume, there won’t even be an opportunity to try to qualify. And that is true no matter how good a customer you are of Square.

An easy offer on a dashboard could potentially be a bit of a disadvantage in that we are all lovers of inertia. So if it is easier to just go with Square, a business owner might not shop around for financing. And if that is the case, they could be getting less favorable terms.

Or they might get less.

But either way, you are leaving money on the table.

Names, Again!

The final disadvantage is the issue of names. The name ‘square’ is a good one, and it rather nicely mimics the look of some on-the-go payment methods you can use with a smartphone. Also, the term connotes fairness.

But it is such a good term that three similar companies all use it. For Square to stand out and for them to not lose business due to confusion, they might have to change their name.

Check out our Credit Suite Credit Line Hybrid, where you can get up to $150,000 to help your business thrive.

Square Capital

Square Capital is the name of Square’s lending division.


Square’s lending arm is Square Capital. See: https://squareup.com/us/en/capital. Pay off your loan with automatic deductions from your Square daily card sales. Square just wants you to pay back in 18 months and hit a minimum every 60 days.


Fees are a fixed percentage of daily credit card sales.

Check out our Credit Suite Credit Line Hybrid, where you can get up to $150,000 to help your business thrive.

A Non-Confusing Alternative: Building Business Credit

Business credit is credit in a business’s name. It doesn’t link to an entrepreneur’s individual credit, not even when the owner is a sole proprietor and the solitary employee. Because of this, a business owner’s business and personal credit scores can be quite different.

Establishing business credit is a process, and it does not occur without effort. A business needs to actively work to build business credit. Nevertheless, it can be done readily and quickly, and it is much faster than establishing personal credit scores.

Company Fundability™

A business needs to be reliable to lenders and merchants. That is why, a business will need a professional-looking website and email address, with site hosting bought from a merchant such as GoDaddy.

Also company telephone numbers must have a listing on ListYourself.net.

At the same time, the business phone number should be toll-free (800 exchange or comparable).

A company will also need a bank account dedicated only to it, and it must have every one of the licenses necessary for operation. These licenses all must be in the particular, correct name of the business, with the same business address and telephone numbers.

So keep in mind that this means not just state licenses, but potentially also city licenses.

Monitor Your Business Credit

Know what is happening with your credit. Make sure it is being reported and address any mistakes as soon as possible. Get in the practice of checking credit reports. Dig into the specifics, not just the scores.

We can help you monitor business credit at Experian, Equifax, and D&B for 90% less. Update the relevant information if there are inaccuracies or the relevant information is incomplete.

A Word about Building Business CreditSquare Financial Credit Suite

Always use credit sensibly! Don’t borrow more than what you can pay off. Keep track of balances and deadlines for payments. Paying off promptly and in full will do more to raise business credit scores than nearly anything else.

Excellent business credit scores help a business get loans. Business credit is an asset which can help your business for many years to come.

SquareTwo Financial Review: Takeaways

It does not appear as if SquareTwo or some unknown possible successor company ever survived Chapter 11. At the time of updating this post, that seemed to be highly unlikely.

Therefore, we don’t just recommend you not work with SquareTwo. It is virtually impossible to do so, even if you wanted to.

Try Square Instead

But Square is another story. Seriously consider them for your funding. You will do best with Square if you use their payments system in your business religiously.

And finally, as with every other lending program, whether online or offline, always be sure to read the fine print. And do the math.

Go over the details with great care and decide whether any option will be good for you and your company.

In addition, consider alternative financing options that go beyond lending. These include building business credit. This is in order to best decide how to get the money you need to help your business grow.

Today, we want to hear from our audience! Share your voice with us about your experiences with online lenders. And please be sure to pass along our SquareTwo Financial review.

About the author 

Janet Gershen-Siegel

Janet Gershen-Siegel is the seasoned Finance Writer and a former content manager at Credit Suite. She has been admitted to practice law for over 30 years, with a focus on litigation and product liability, and is a published author, with writing credits at Entrepreneur, FedSmith.com and BusinessingMag.com.

She has a BA in Philosophy from Boston University, a JD from the Delaware Law School of Widener University, and a MS in Interactive Media (Social Media) from Quinnipiac University.

She regularly writes for Credit Suite, which helps businesses improve Fundability™, build credit, and get approved for loans and credit lines.

Her specialties: business credit, business credit cards, business funding, crowdfunding, and law

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