My last comment disappeared, so I'll repost.
I am currently at 94% paid back on my current loan. What I have noticed with my loans is the higher the loan, the higher the payback percentage before a new loan is offered. Although this is not a firm rule, and not everyone experiences this, it's something I've noticed specifically with mine. I use my loans as an investment into growing my business. I buy inventory to boost sales and grow volume. I don't use it for operating costs or to pay bills as that's not what the loans are designed for. Although I don't "need" the loan, I always appreciate them as every loan so far has built my business from a $2000 flea market startup to a $800,000 a year retail store in just three years! I accept the loans not because I "need" to but because I "want" to, and I am always thankful to Square for helping build our success.
Now to the point of the post that disappeared....
.... Although thankful for the loan offers, which we all know is"not guaranteed" and follows an algorithm, I'm somewhat disappointed in the inconsistency of the algorithm itself. Here you have a group of people that are in the high 80's up to 100% paid off, all green metrics, and no offer. Then you hear comments from some folks who are 67% up to mid 70% range who say they got an offer with "needs work" or not all green in their metrics. It starts to get frustrating as there's no consistency. Yes, the offers are totally random and never guaranteed, but there has to be another answer as to the loan process besides the generic "loans are not guaranteed" and "follows a algorithm that is proprietary to Square". There has to be a reason that can be given as as to why someone with 72% and "not all green" gets a loan offer and those with 89, 90, 91ish percent and "all green" don't.
Personally, I would LOVE to receive another offer, and as always would utilize it to grow my business, as I have done with the last 10 loa..... investments!
