Hello, you are food as well? Do you have a restaurant type business or food truck? I'm in Central Michigan pretty rural, and our mom and pops restaurants are just packed every day all. We have 3 that's it, I'm really rural 😆 🤣 and the opposite side of town where I am is fast food 5 of them coming from right there is 3 major interstates all conversing into town, going up North or down towards Detroit. Besides the weekends, our locals flood our small hometown restaurants. What's killing us is our hometown grocery store both closed in less than 6 months after aldis, Save a lot, and Walmart moved in all within 3-6 mths of each other? I'm just curious how the market was for the food business is all. I kinda had my eye on a food truck just to put in our parking lot at our business.
If you read through yes, it's trending higher percentage paid off or completely paid off. A few jump in around 70s but not too many. Lenders in general are holding tight right now with the Feds raising or not raising the rates,the market has seemed to mellow out, and all that plays a factor. Lenders have shareholders to answer to. Unfortunately, that affects us and our offers. We are all feeling it, and it's hard when us customers are doing record sales and yet still waiting. I hope it breaks soon, and we can all get back to normal and on track. Congrats, though, for doing so well and keeping it rocking! Don't give up. Just keep doing great things, and I truly wish you the best and everyone waiting ❤️
Years ago, I went to my credit union and called about a line of credit. Do I need anything, etc, Nope, they had all my paperwork and licenses, and they can look right at my account. I only bank with them. No kidding in about an hour boom done received a line of credit. Now, I do use that for emergency type situations. But I have it. I just myself like small credit unions vs. bigger banks, just my preference, but they seem to lend faster and more often to small businesses. They did offer a business credit card, and I turned that down over the LOC. I'm old school and I do like Square. I've never been with anyone else, though, to compare. But I swipe that card and 5:05 pm it's in my bank. Loans love them, too. I don't take every offer more so the winter times, or if a deal comes along that I just can't pass up on and an offer came in, I would take it. I'm also one that likes the higher percentage paid back. If I want that loan, I want the most of it and not roll over 30 or 40% of an old loan eating into my new offer. But that's just me. Everyone and their situation is different. I see people with broken equipment or business repairs that need to be done ASAP. That's much different, and I feel for them, and each day I watch hoping they get that offer!
When you update, no, the metrics don't tell you that you are eligible. It's a tool for us to use. If you need to increase your card processing volume, a mix between new and returning customers. That way, you know what to work on. Like they just said, I've seen many lately that needed work but still receiving offers. Maybe one of the others will jump in, but I believe that's exactly what it is a tool and not the deciding factor. You could have been up and killer numbers and then boom if you get sick or off for a couple of days I believe that it's your overall health of the business whether that's monthly or quarterly they take into their decisions I'm not 100% sure. But the metrics aren't the only deciding factor.
