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  • Square IPO

    I would like to know everyone's thoughts on Square and their lending business. How does it compare to On Deck?

  • #2
    From what I understand, Square charges less and they're entirely focused on merchants using their Square merchant accounts. A percentage of each card transaction is withheld and applied to the merchant's outstanding balancing. They're using it as a way to grow their existing clients' sales and as a retention tool.

    OnDeck is an equal opportunity lender that will fund anyone that meets their criteria. They do fixed bank account debits. The two companies are actually hard to compare. Square could argue that their program is a loss leader for their payments business if it's not making money. OnDeck on the other hand is just a lender.
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