SquareTwo Financial Review

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Summary
Review Date
Reviewed Item
SquareTwo Financial
Author Rating
11stargraygraygraygray

SquareTwo Financial Review

Published By Janet Gershen-Siegel at May 8, 2018

OnDeck Online Lender Review, Lending Club Online Lender Review, Credit Suite, Yellowstone Capital Online Lender Review, Lendio Online Lender Review Funding Circle, Bond Street Review, SquareTwo Financial, Kabbage, Prosper, Fundation, Fundera, Behalf, CAN Capital, Balboa Review, Credibly Review, LenCred Review-Pearl Financing Review-Quarter Spot Review-BlueVine Review-Lendio Review-Rapid Advance Review-NUGROWTH/IBIS Review-NUGROWTH-IBIS Review-PayPal Working Capital Review>

By Janet Gershen-Siegel

We review the SquareTwo Financial online lender. However, there are three rather similarly-named players online. We look at the specifics for all three, in order to cut through the confusion.

SquareTwo Financial

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

Background

SquareTwo Financial is located online here: http://www.squaretwofinancial.com/. Their physical address is located in Englewood, CO. You can call them at: (877) 304-0146. Their website is currently not responding, so as a result much of their basic information cannot be determined based on a simple check online.

Asset recovery

SquareTwo purchases outstanding accounts receivables from companies. The company is currently (since March of 2017) restructuring under Chapter 11.

Fees

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

Advantages

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

Disadvantages

Disadvantages include 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. In addition, it is not possible to tell even if any other company will come in and buy the name or the company’s assets, or both.

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

Square

This company provides options to take payments on the go. They do not serve as a business capital provider. We do, however, recommend Square as a service provider.

Background

Square is located online here: https://squareup.com/. Their physical address is located in San Francisco, CA.

Square Capital

Square Capital acts as a go-between for banks and customers, including businesses.

Background

Square Capital is located online here: http://www.squarecapital.co.in/. Their physical address is located in Gurgaon, India. You can also call them at: (800) 108-7000.

Fees

There do not seem to be fees; this company is paid via its referrals to its partners. At this point, that seems to be the only demonstrable advantage for business owners.

Takeaways

The real question is whether SquareTwo or some unknown possible successor company will survive Chapter 11 at all. At the time of researching and writing this blog post, that seems to be highly unlikely. Therefore, we do not just recommend you not work with SquareTwo. It is virtually impossible to do so, even if you truly wanted to.

A Word to the Wise

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 a fine-toothed comb. And then decide whether any option will be good for you and your company.

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

Business credit has the advantage that it is an asset which adds value to any company. And this is even true for startup ventures. Business owners can also have poor personal credit and still build business credit. As a result, they can get vendor credit and then revolving store credit. And then they can get fleet credit and cash credit.

We know the steps to take, and the right order, to save time and to minimize frustrations.

Today, we want to hear from our audience! Share your voice with us about your experiences with online lenders.

Summary
Review Date
Reviewed Item
SquareTwo Financial
Author Rating
11stargraygraygraygray
Summary
Review Date
Reviewed Item
SquareTwo Financial
Author Rating
11stargraygraygraygray

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