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!
You are one of rare or handful of 70% offers. There are so many factors that play into the algorithm that is why you always see there is no guarantees if or when? On the whole and we see the trends daily its mid 80s-90s range for a good %. Square posted by doing this you eat up less of your new loan to pay for the previous loan and can invest more into your business. There’s also, the same amount of people who like yourself are on the lower % that are completely paid off and waiting. When it’s your turn it’s your turn and the algorithm picked off something that triggers your number. Congratulations 🎉🎈 it’s been a great week and half of loans going out of here! It’s nice to see the board moving!
If they haven’t requested additional information that’s a great sign. There has been a lot of approvals last week till now. It could be running slower or if people ahead have issues or documentation needed that’s why they state up to 3 business days. I have been jammed up a few times.
I'm trying! Loans are still going out daily that's a great thing. The percentage is still hanging in the upper 80s-90s for a good majority of users. A few 70s do pop in here and there along with the fully paid off. Nice to see a familiar name! We have a good group of newer users on loans 2-3 right now. Just trying to figure out how the loan system and metrics come into play. I am sure you will receive a few questions along the way regarding your experience and timeframe. Good luck to you and I will be watching for the algorithm to pick you up!
Hello, unfortunately, with no guarantee of if or when, it's hard to say exactly when or if. Square, as you see below, the comments are still doing loans every day. Can I ask how long you've been with Square? By your comment about paying it off in 30 days, it sounds like you are newer to Square and just about in loan 2-4 right now.
