It's so hard 😫 when people get used to something and boom 💥 changes. I received one, and I really didn't want to post here at 69% and 4k higher than the last offer in March. I usually get about 5, maybe 6 a year. I don't take them from about May to Christmas. That's my busy time of the year, and winter in Michigan has bipolar issues, I think. That is when I know it's going to be a bad winter, and I probably better be looking at my loan section. I have a revolving line of credit, and I make sure 💯 I have it completely paid off before winter just in case I don't get an offer in the winter. My other issue is that I won't take an offer at 69% paid off and roll over roughly 30% into my latest offer. There goes instantly 30% of the new loan that I needed through the winter. That is just me, and thankfully, there are no huge issues like others on here that have been waiting and could really use a kick start. Pizza ovens down, hood vents out, 2 lawn equipment out. It's really hard for me at times, and I've been there done that, and it really does suck at times. People have no idea how much of our lives we give up as small business owners it's 24/7, and just about everyone wouldn't change a thing. I'm watching daily big box stores and restaurant chains closing up daily, and yet here we are pushing forward! We got this
Do you have a nice small credit union? I have been banking with my 8-10 branch credit union the day I started my business and started with Square 2012. Maybe it's just me, but about 6/7 years ago, I had a great opportunity for a good billboard, but the rep wasn't waiting for that Ole algorithm to kick in. I called the credit union to see how or what they offered for small businesses and what I needed to bring in. I got in that day and didn't need a thing it was all there when I opened my business account, and all money, cash,checks, and Square is there. An hour later done, and I have a revolving line of credit for 20k they thought I should have gone higher, but that's what I choose to have and can go higher if I need to. I don't know if just me or what I never liked or had any luck with big banks and I'm very rural and the 3 we have are big Corp Banks nope not working with them at all. I know the business owner next to me used. I'm hoping I got this right crowd funding? He opened a coffee shop and cafe. I believe if I remember correctly, it did take a few days of paperwork, and then he received multiple offers, and he picked the best one and in his account the next day. He said that now they have his information when he needed it again, 3nths of bank statements, and done and in his account that night. Hopefully, things kick in and start to open up and let that cash flow, but I know it's hard when push comes to shove you, and only you know what it is right for your business. Square loans are great, especially with keeping your credit open and available. The biggest downside is when or if you get an offer. There is no guarantee you will get one either. I know just for myself up until last year I could count like clockwork 70-75%. I knew an offer was coming in, and now no. Unfortunately, now 😕 😪 no, I do get on other forums that use different pos and loans, and that is the number 1 question what, where, and when is a loan offer coming in. We have a lot going on with the economy, Feds and the interest rate, Stock Market, I could go on and on. Square is worldwide, and they have investors to answer to. I see people here who are up 200% in sales and completely paid off and nothing. My last two offers were 91% paid off and 69%??? It's not you or the restaurant industry it's just what is going on around us right now. I really hope it breaks soon, though. I wish more square users would engage in threads it does help others to kinda gauge what is happening or going on. Good luck to you and everyone waiting for an offer. Hopefully, others will jump in and have other options for financing that I can't think of.
