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.
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.
I agree with @Minion 100% also, square wants to see history, and by keeping it that is what it is doing. I think I asked you before if whatever is your top card sales rather its a dye and highlights vs the kid's haircut can you offer a 5% discount if you use your preferred card sale? Watch your numbers and see if doable or don't add the % if you know what is your number 1 card transaction and just push that. I am trying to think outside of the box here. I look back at my first 3-4 loans and they were low as well but I knew from here I had to build a relationship and then as the business grew so did my offers. Now, if I take one I try to pay it off around 60-65%. That's just myself and my experiences with loans. I tend to wait now for the right one or closer to winter my slower months just in case. But I would let this ride for a bit at least and see how fast your cards are paying it off and then go from there. I agree with @Minion now you would be in a payday loan situation and fees would kill you and without a guarantee that the next one would be higher especially so fast. IMO I would let it ride and watch it. Good luck and keep me posted! I hope your husband is doing better and healed up!
That is about all you can do! Unfortunately, it's out of our hands when the algorithm picks you off. I am always the same as you are, it is out of control and I can't force anyone to move it along any faster. I wish we had that ability. Just keep watching your dashboard they show there faster than the emails do. Keep pushing forward with your business and it will come back to you. Good luck and thanks for the update!
