It has been trending higher for about a good year or longer. All factors are coming into play with all POS services that offer loans. They all have shareholder who they have to answer too. The economy, the market, interest rates etc, does and is included to the guidelines for a loan along with the normal sales are up, daily volume of swipes up and the no returns, no disputes all zero or very low. Most I’ve seen our roughly mid 80-90% paid back to completely paid off. I don’t tell anyone who, what or how to run there business every. But , I have seen in the last year myself a good dozen leave square and listened to a Rep from a POS who does loans and guarantees day 1 would qualify for a 50k loan going off his last 3 bank statements. Now, they are back. Just like Square a simple google search states you must be an active customer for 6-12 months to qualify for your first loan. They start from scratch. The one will jump on here. He went from around 44k offers to 1,500.00 and was livid. Just letting you know I jump on their public forum and read what their customers are saying and they aren’t happy. Good luck and hopefully very soon!
I don’t accept all offers myself either. I believe 5/6 years ago and went to my lil credit union and I got a LOC. if I am in the 90s and the offer is good and close to winter time I will. But my last few offers 84% passed didn’t need it busy time. 91% took it late Aug/Sept. it’s in my savings and 3 months later 69% easy pass. Next one was 89/90% and 3x higher than previous offer and took it. I am getting ready for grand opening of location number two and moving in the winter was miserable and put me behind 2 mths the list went on. I have it savings still. I am going to order a couple trucks of new furniture for store number one and load up on inventory, supplies, etc so they are all set. I know I will only be 3 buildings down but I will be at the new store and the guys will be at the furniture store all set and ready to go! Then advertising and signs are ridiculous anymore. So that will leave me roughly a loan and change and my LOC I use for emergency only. That’s just myself, and others that is all on them. But , new offers are rolling out now! 7/8 in the last 2 days is pretty good for those that post on here at least.
You’re on the board loans there are too many for 1. But most are using or posting in loans 2025 or new loans 2025. There is like 5 loan boards going on at once and people don’t know where to post. But those 2 are the most active. It was slow for about a week or two but now since Wednesday it has been busy with offers. Try on there ok. You will see the messages.
If in the search bar when you log into square it shows saw like community, general topics, loans under that is loans 2025, or are the any loans 2025. There's too many IMO only. Those 2 are the most active The exact words might be off but have loans and 2025 in them. We need a clean-up back here to help users to the right or active boards for loans.
