That is the hardest part for 99% of the people. 4/5 years ago I could guarantee almost like clockwork 70-75% I was going to offer in that range. And now it's different and we all as customers notice it. It is hard to plan on inventory. I'm seeing people who lost one of their pizza ovens go out, another lost their less when the building sold. All green and % paid back in the 80-90’s to completely paid off and hurting bad. Trying to figure out that the algorithm is like Wheel of Fortune or Lotto! Best of luck on both! So far Pipe has been coming through big for people here.
Congratulations first and to obtain the same amount and not half of the previous offer is excellent as well! It has been so up and down with offers so to see the same even though your sales are up by 50% is awesome and great job on a 50% increase. From what I've watched is usually not everyone of course but the next offer if things stay the same with your business their offer went up to align closer to their sales. Mine did pretty quickly at 69% though. I didn't take it because the new offer and the amount of rollover took all of the increase. I understand if people need it and no guarantee when the next one is coming you do what you have to for your business. If not 80-90% paid off (I like 90%) but that's been 1 time 91% paid off a lower percentage to pay daily. Yeah, I jumped on it! So minus 19% and the same amount of previous offer is pretty darn good lately. Great job!!!!! I'm glad it came through and at the right time!!! Yes, square is still doing loans daily. Millions of users and a small percentage use the platforms. When we are the best info to share! Go get it and keep those sales rolling in! Thank you for sharing and breaking down your information it does help others.
I know you and everyone else! And lately, it's been bouncing around with the % paid off. Just for myself once I am about your % paid off and I do a sale (I'm a retail furniture store) from Thursday - to Saturday and really kick in the sales my metrics usually update from 1-3 pm. I have noticed that about 70% of my offers are on a Saturday night from 7-10 pm. It could be just a coincidence or im reading too much into it. But the numbers when I looked up every loan that I accepted. I'm a Saturday and Thursday the most. Very few other days. Trying to figure out how and what triggers that algorithm is like playing the lottery! I just punched in the numbers and that's what I noticed is. I do process every day were open 7 days a week until winter. I see others up 300% in sales all green for months and completely paid off for 3 months and nothing yet. 2 people posted 69% and offered this week. If you see a thread loans in 2024 that is where 99% of the comments and community are keeping everyone posted every day. Good luck to you and hopefully it will be soon!
Congrats on the Pipe application and getting some relief for a while. Ugh, if anyone on here understood how to figure out that good old algorithm the board would clear out fast! For months the % was trending high to paid off. Now, for the most part, it still is. A couple here and there every couple of weeks popped in the 70s range and received an offer. Hopefully, it will pick up soon!
Check right underneath the loan circle and see if your current loan is there with the other paid-off loans first. I've had my metrics disappear if I happened to check it between 1-3 pm when I normally update but it's back shortly. Only 1 time when it disappeared that night I received an offer on Saturday night. Hopefully, that's why. If not and nothing changes I would try contacting Square today. Make sure you tell them that you are not asking about a loan fast but I would hate to see them take out a payment when you are paid off! A few things could be going on. 1. You're not updating correctly 2. You could be in the process of getting an offer 3. All of the above are just from my experiences and others on here with the same issues. Your last payment or final payment was it taken out from your daily sales or did you pay it off manually? If manually it does take 7-10 days to post or show up on your account. Good luck and I would try to stay on top of it. Please keep up posted ok.
Mine since last June was 84% and then 91% and the last one in March at 69% paid back! Nothing changed really. Sales are up, more credit cards in the winter though (our warmest winter in Michigan), and our snowbirds mostly stayed here. But to go from 91% to 69% really with not much changing baffles me. I didn't or don't usually take offers at 69% and a 1k increase over the previous offer because I roll over more of my offer and get less. I did accept the 91% with a 6k increase which is still lower than normal but better than 50% less! And I got all my offers and about 5k more. Believe me, I understand that if need it and it comes in you and only you know what is best for your business! I'm hoping it breaks soon but I've been saying this all summer! Good luck to you and everyone waiting!
Last month and all summer I could have said for almost everyone the % was high in the 90s paid back to completely paid off before a new offer. This month if you scroll down a handful from 69% to paid off. It's bouncing around and unfortunately, most are 100% like you! Sales up paid off the loan in 1/2 the tiime and nothing yet. With an algorithm imo is like watching a bingo ball go around and land on you or the other in front or behind you. It's frustrating and confusing. I was hoping that the Feds cutting rates would ease lenders and we could get back to close to semi-normal offers. That hasn't happened yet. I think imo they are watching the bigger picture around the world and the overall health of everything! Good luck and hopefully it breaks soon!
There have been some glitches with metrics and they are working on it. Oct 26th was a big crash in certain areas here in the USA and more oversees to all crashed and they couldn't even take a payment. They had to invoice customers the businesses that could and then catch up with all their metrics. That's why people are posting my updates are coming in a few hours later or ghosting and gone? They will come back and hopefully updated everything along the way! Others no science on this theory but they said when it ghosted it came back with an offer? Coincidence or luck or true?
Thank you for sharing and we do get a few every month looking to see how loans are going here. I would love it if you could keep us posted on how the company Youlend works out for you. Others asked about Pipe and reported back the same thing as you. I would love to be able to give them a good bridge reference if that's ok. Hopefully, they start picking up over there. I know the economy on the whole isn't good but how is business going? Are you seeing and feeling the increase in just about everything? I still have a few friends in England after 8 years stationed at RAF Upper Heyford. One is still in the military and the other finished his time and now working 2 jobs nonstop to keep afloat. Good luck to you and I hope that the company helps till you get an offer from Square.
