Mine tend to be more Saturday offers than any other day of the week. Our busiest days are Wednesday-Sat and I tend to get a late night Saturday offers than any other day.
There are 2 ways to help improve your offers. I use a terminal and register so I ring up cash and checks. It doesn't of course increase your daily sales or pay off any more of your balance but it does show your overall cash flow and honestly, everyone knows you don't have just 25 cards processed or whatever and you've never taken a check or cash. 2nd and this is up to you and how you feel about it. You can link your bank so that Square can see that say prior to an offer you took in 55k in cards only but your bank account said 32k in cash deposits and 12k in checks. Those are just random numbers. They can see and base your offer to include that 44k into some factors. Again, it states no guarantee that it would automatically increase it, and you control what they can and can't see. Its totally optional. Going off of the people who post here a good 75%?said their offers went up and all metrics were great.
Way to go!!! Congrats on the sales. Yes, hold off or that 10 business days to process, and then back into the algorithm over 75.00 I wouldn't chance it either but that's just me. I've noticed and noted that loan 2-4 seem to be a longer time. The algorithm is finally getting good data on how you process, how fast you are paying off the minimum before it is due, and crunching numbers. I think at the time my biggest loan offer at the time was loan 3-4 and it was 16k higher than before and that was prior to the metrics and I thought I hit the lottery! 😆
Unfortunately, yes we have a handful of paid off ones. But like the amazing lady who posted under you. She recently received hers and she was paid off. She is a super trooper! Always positive, and very happy to see when others received offers. A great example of how patience paid off good for her!
The longer you're with Square the more data it collects with processing and it adjusts to give you the best loan size for you to meet the payments and terms. I weigh out the good vs the bad things and no matter what it comes down to me if it isn't broken don't fix it. That's why I have stayed so long. I know that I swipe a card and that money hits my account every night between 5:05-5:15 pm and that's important to me from the beginning. The rest is all big pluses.
I remember loan numbers 2-4 (this was a very long time ago), but they did tend to take longer. You are just starting to establish yourself with Square and building a relationship. The algorithm is collecting data from your processing history. My best advice is to keep pushing forward and knock out those numbers, keep swiping away. Also, the amount per transaction is key, and getting or gaining new customers is a big plus! Your history will continue to improve the longer you are with Square. Try to keep all the negatives down. No chargebacks, returns, disputes, etc. Unfortunately, sometimes those are out of our control and they happen. Less is better in that area. It’s nice to see so many semi-new users on here! So let me say welcome and nice to meet you! Good luck to you, and please keep us posted on how it goes.
