It has been quite this week. I know we've been extremely busy this week and weekend with the holiday and Amish Festival going on. It's been crazy. Hopefully, people are just busy! Also, not everyone posted that they received one. Just pop on to see where or what is going on with others. It would be nice to just let others know.
Congratulations on both! You are the first I've seen with both offers. With this being so new this group looks like the test group. Without any real announcement from either company, it's kinda on us to keep people updated if you don't mind. We were wondering how this would affect either. Good luck and congrats! @Jjpainting Here is the first I've seen both coming in shortly of each other Pipe and Square. Definitely one to watch!
Thank you so much for the information! You were the one I was waiting to hear back from! With Square as your processing and main partner for processing and loans. I had a feeling they would make sure you wouldn't overextend yourself. You're interest rate between the 2 equal to be that of squares for your more normal amount which is ok. The fee part I haven't seen anyone else say that yet. There are 3 others I believe were recently funded and they didn't say anything. If you don't mind me asking what was the old vs the new? I looked at my fews and nothing there is different.
100% correct right now you are doing just payday loans and paying them off so quickly. I understand that 100% of businesses get into a crunch when an oven goes out, truck dies, etc. I really try not to accept anything under 85% paid off now with the offers staying about the same. I'm losing 35% more of the offer by rolling that amount over. Unfortunately, if you're in a pinch there's no guarantee you will get one at 85% that's why I a line of credit at my credit union for that pinch. Pipe has seemed to step up and help between that gap. Which is amazing and 10% is pretty fair for their type of lending. I wish everyone the best of luck! I know it's been tough but guess what? We are still here and keeping small businesses going!
I'm sorry I skipped right over your question about my loan fees. Like yours, they vary with the loan amounts. I've had from 8% to 16%. I know a few have stated their fees have gone up and from everything I've read nope. It is just we are all different with the offers we receive and how much you still have remaining to roll over. We're never going to be the same with an algorithm. I 100% get credit. I had a 790-802 depending on what credit bureau. On Feb 6th of 2023 Saturday night I got a text congratulations on your new card. I didn't think about it much as I was waiting on my new card which was close to the expiration date. Then every 5 minutes credit karma was going off! I called the back of my card, and nope nothing they could do they got my bank account and routing number. Drained every penny, opened 13 credit cards, and 4 of those “you're pre-approved for 25k. Monday morning at 8:59 im at the door of the bank! By noon all my money was back, new account with a pin and password protected. State police did a report for the credit bureau as well and the credit union. The cards were open so fast from California to New York and he had me on video at the store at 8 pm that night looking for paperwork! Last week finally all 13 credit cards were gone and 1 loan!!!! Going on 2 years in February and hired an attorney and it's crazy the damage it did. My credit union business rep had me pull up on credit karma my last 3 credit reports and she attached it to my file and said I was in great standing with them with my 338 credit score!!!!!! Finally, up to 720, I believe, IDTheft is not good at all and you do all the work.
Hello, I hope you don't mind I tagged you in a post with someone who is stating I believe when I read it again it's close to a week, and pipe hasn't pulled a payment yet! I told her to call asap! I have not applied or used them ever. I have looked at their reviews, other users on different platforms, and the terms of conditions. Most complaints were about the inconsistency of withdrawals. We are used to nightly like clockwork and it doesn't seem to be like that always, especially the first withdrawal. The others were weekends were iffy and definitely not holidays. I believe you were one of the first if not the first and might have better information about it than me saying to call asap today Friday before you get into another week if I read it right. Thank you so much for your help and support for others on here!
Going off of others it was almost an instant approval a few weeks ago but now 1-2 days. I'm sure or guessing a lot of users are now applying. I have only seen one person say they were turned down. They didn't state why or if Pipe stated why. It could have been as simple as not being able to verify the account who knows? Good luck and be patient it appears not much happens on the weekends and Monday is a Holiday. Good luck to you!
