Very nicely said! It's hard here on the loan boards and people are frustrated and stressed and I get that, I really do. It's rare to see someone else who might be waiting and waiting to congratulate someone else and wish them luck or best wishes. Thank you, and that's exactly what loans are for! To help businesses continue to succeed and grow. A big 👏👏 to you!
How many loans have you had? I know that is personal, only if you don't mind sharing? I have been with Square since the testing of the new loans. I would have to go way back to the beginning and see if there is a pattern with mine. My first 8/9 loans I probably accepted them all or close to it. Over the last few years, I have been more selective. I only do them if I’m in the 90% range, usually closer to winter (usually my slower time), not the last 2 years though. I have been up between 55% and 67% higher than the previous year. If it's a good offer, I might accept it in September and tuck it away in savings for the winter, or a deal too good to pass up. I am not a fan of rolling over 30-40% of that nice offer to eat it up on the last loan. I have a LOC with my credit union for years, and I don't touch it unless there is an emergency. That's just me though. Everyone has their way to handle loans, and they don't pay my bills, so I certainly won't ever tell anyone else how to handle theirs. I'm a trend follower, and now that you have caught my attention, I'll be doing a little homework tonight. Thanks for the information and maybe others might chime in with some information. Honestly, who knows you could be on to something or just a random oddity with your last few. This is why I love it when people think outside of the box and see who is going to finally crack that old algorithm! 😆
