It sounded like you were newer to loans. It's so hard to try and make a guess on it with the first few loans especially. Besides me telling you there are no guarantees of if or when the next offer might come. The difficult part is Square and the algorithm trying to figure out your processing pattern. With any new account, you have to start somewhere. The algorithm is a tremendous help for us to use but it's not a guarantee of an offer nor is it a bust if something needs work. Square takes into account your whole profile. Time with Square, previous loans are huge. All the good signs. Increase in sales, volume of swipes, and new customers. The algorithm is doing its job and crunching numbers and recording data. It does look at your account daily. If you can help it increase sales or boost the number of swipes maybe that might trigger it to take a 2nd look at your account. That's just a wild guess. Something has to! Good luck and Keep us posted ok.
Yes, I understood you. It transfers over the next day. Now, when you go to make your loan payment it takes 7-10 business days to process. Once it is cleared you are eligible to update and go back into the algorithm. If or when, with no guarantees, it's hard to say. The last time I paid off a loan in the upper 80s to low 90s, I was 14 days (federal holiday) fell in there to process the payment and clear through the system. Then it took 2 days to go back into the algorithm. Through this process, I was already paid off from sales. Before paying off your loan double-check to make sure you don't have any offers. If you do it will cancel it out during this process. Good luck with your journey!
Up top, I believe that the criteria for loans some of the wording has been revamped. The good ole days of 70% range is lower on average it is about 80s-90s% but I have a few on the regular loan page 2025 I believe that is 100% paid off 2-3 weeks now too. Of course, you know the golden rule of no guarantee when or if. This is just what I do whenever I make a big payment or pay off I do it around 60% just because 2x I did in at or around 87 and 85% and like you I did understand the 10 business days and 1 fell in with a federal holiday. I would have been paid off if I waited. One took 2 days after it cleared paid off on my dashboard and the other took about 3 weeks to get an. Offer. Those 2 were prior to having the metrics then. I then switched my payment or paying off to around 60% and then through the process I usually landed around the mid-80s. That's just my experience with paying off or down. I still do it but now at 60% I pay half give or take and I still average mid 80% and then the algorithm takes over. I know this past week a lot of people who were waiting received loans and they were in the upper 80s to mid 90s. For those who come on the forums at least. Good luck and hopefully it will pick you up soon!
Before the storm metrics dropped as fast as the snow the loans were daily on here and up. Now, I am lucky to see 1 (post here at least. And it hasn't been good. Also, a lot of people miss the last section of the updated or new verbiage for the loan criteria. The economy and overall health of it. Also, the stock market comes into play. It's been pretty steady on the whole with a few high spikes. Stockholders tend to hold tight and hold that money tight. It's not just in the United States but worldwide. We could be banging it out here but 2 wars going on and multiple countries having or will have elections play a favor. Also, the first part goes into why the higher % to paid off. They said that way you are getting the most out of your offer than losing 20-30% in rolling over that much. Most missed that one also. Of course, as we are all different and process differently you do see a handful of 60-the 70s here and there but on the whole, it's around the upper 80s- to mid 90s. Good luck and hopefully today was your day!
Congratulations! I am sorry it was less than the prior offer. Can I ask you was all your metrics are good? I assume so if it will be paid off soon. The reason I am asking is that it has trended finally a higher offer. I believe that I have seen 2 since around January that sales are up a good 25%, returns, refunds none, the volume of swipes up, daily sales vs previous up, and new vs return customers all up. So, their offers are up. One who received a lower offer than he was expecting before his offers was that 2-3 weeks of really bad weather and everything took a dip. I am pushing for a feature to be added to the metrics is weather. We as owners can't control a cold front and 80” of snow in that period. Others had freezing and further south tornados. In February that was a long hard stretch of all of the above. I was just curious if that affected your business and offer. I am a trendwatcher and up to that point offers coming in later, and higher. Just curious if we are going to see a difference from it. I know everyone is different from each other and we process differently from each other and of course no guarantees to any of the above mentioned. Thank you, and hopefully, the next one will be better. I am like you as most are with no guarantee I am grateful I finally received one. Go knock this one out again!
