Thank you so much for that information it helps a ton! So, first, let me give you the short unofficial version of no guarantees of if when, or how much. Ok, you know all that. 2. I've been with Square now for 13 years. I do not work for Square I am a retail furniture store owner. When you see people like myself with blue bubbles or like me and others who write in our titles we are here to help as much as we can. You can click on each picture I believe and it tells you where our expertise is. 3. My last offer 3 weeks ago I believe the first Friday in February was right around 89/90% (I didn't update yet from Saturday sales) the percentage is trending higher to paid off. But a few 70s sneak in and a handful of paid-offs. The majority are 85-95% and this has been going on now for over a year and a half. Just look at the top of the page for the criteria or loan eligibility and go to the bottom about the economy, the market, the overall health of not just the USA as Square is worldwide. This is part is important as square for loans has shareholders to answer to ok. Metrics are a great tool to use for us to run our business but I imo don't think they should use the term or word when it comes to loans. People automatically assume that all metrics are green and up and now what? Where is my money? That's a portion of it. Next, your loan history ugh, you are banging out these small offers like a payday loan. You are very correct if you paid it off it takes a good 10 business days to go from payment pending to posted and then it takes 2 days for you to go back into the algorithm again to pick you off. So imo and I have done prepayments at around 60% once all the weekends which doesn't count and a federal holiday fell in one payment. I was at 82% and 84% when my offer came in. My last year and a half was 81,84, 91, 69, 90. I refuse to take anything under 80 and above for me. That's me nobody else I prefer all or the majority of my offer and a rollover of 30% eats it fast! But I understand emergencies, equipment down, or advertising so you run your business and I will run mine type thing. Your biggest challenge is your history vs your payoffs. It is a great thing but it is harder for the algorithm to fit you with a loan size without the history so back in the beginning of the loans it started off slower and lower offers as you grew and the longer you are with them it picks off your pattern of payments does that makes sense how I am explaining it. You should be getting bigger offers if you are paying them back that fast and the system will pick up on that. I can't tell you when honestly if I could I wouldn't be here typing you. 😆 I would like to think soon though at your rate. A great sign lately is everyone posting finally said “oh offer much better 2-3xs larger than the last one. The huge sign goes up for me. My previous offers were all the same and 1 was 1k higher than my last one 5x bigger than the previous huge plus. I am just hoping it picks up this early as far as loan history your processing and % and rate of paying it back and gives you a bigger and better than previous offers. Every single POS uses a form of an algorithm and regardless of Rep spew and promises to get you to switch (that's their job) you are always new and you will start from the bottom and wait 6 months for the first offer and then some. Please 🙏 keep me posted on how it goes and what % you're at when it comes in. You got this and close keep processing as much as possible and kick it a gear and see if that triggers the ole algorithm! Good luck!
