I don't judge, or now what other businesses need loans for. Some need it to expand or have an opportunity to get inventory for a great deal. Some need it for advertising and growing that way. These loans help a lot of small business owners vs. doing a bank loan, which is extremely hard to get right now. Most lenders this includes square is holding tight right now. We have a budget that they pushed back 2 times and has be passed in September, or the government shut down. In September, they decide if they are going to raise the interest rate again 🙄. A lot of factors are going on right now. This summer is trending in the same direction unfortunately.
Growth, advertising, hiring help, more inventory is a great thing but unfortunately when you lose out to an algorithm it stinks period. You lose that one on one communication compared to a bank or credit union. Imo when a business is up month after month it should trigger it. I ❤️ hope it breaks through for so many waiting!
It's not just you. If you scroll up to the Mods message, it really has changed from previous critics and included the economy and interest rates. It has probably zero to your business, but all lenders are holding tight. We have 2 major issues coming up in August/September. Whether the Feds raise interest rates and a budget that has to pass by October 1st. All lenders and banks are holding tight. This trend is from last June. I'm watching business owners up 200% and no new offer. Believe me, it's NOT just square it has all lenders holding tight. Good luck to you and everyone waiting
My last one in May was 81% prior to that it was 91% . I've been with Square since 2012, and once they kicked out the loan part, I believe 2014? Mine was like clockwork 70-75 % . 💯 guaranteed! The last two years, no, not so much. I follow the trends and it's been trending higher percentage paid off or completely paid off.
