Thank you for your first post! Please feel free to jump in and share your experience with Square loans and the details. It does help others who are looking and waiting! Although we are all different and process differently you can see a trend for a good majority (not all). Thank you for sharing!
No, I don't have mine, and since that appeared I've had 6/7 offers. For my little credit union with ID theft, I would have to 3-way call with a human to do it. It won't let 3rd parties access it. Others have lately and like others their offer was lower. But everyone is different and what's good for me might be the opposite for you. I have not heard anything bad about it or a negative impact at all. I guess imo why not give it a shot and see? I didn't go into the fine print about terms or access to account or accounts type thing. Good luck keep us posted if you don't mind especially if it does help. Others could really use that feedback!
This week has been pretty quiet so far but for the last 2 weeks, there was a good bunch who had offers. As far as the election goes without getting into political discussion here. If you read above I believe it is still posted at the very bottom about the loan section and factors. Square like any POS company that offers loans have to answer to stockholders. Elections do have or I should say do have impacts on the market, policies that would change, the economy all of that affects how all lenders will react even banks and all lenders. Until this is over all we can do is wait and see. If the market starts booming, that's a good sign, interest rates drop those are what they look at and look for! But, between now and January 20th we shall see if things start popping or if they hold tight for a bit. It's really been a rough time for a lot of businesses that got used to like Clockwork 70-75% and an offer. This has not been the case for a while now. It was trending 90% to paid off completely! These past few weeks I've been seeing upper 70s to low 80s more and more. It's hard hun honestly, we are all so different from each other, and some businesses are booming, and others are barely keeping their doors open, and all that comes into play. Good luck hopefully soon an offer will pop up!
I know I wish there was a way that it took into consideration days closed. But what it does is it takes in the whole picture of the overall health of your business and many like me close 2 days in the winter and it dips to needs works and I still get offers and many others on here can say the same. Last winter we didn't close but 1 day because we had the warmest winter I can remember ever in Michigan and started to take orders or sales over the phone or online. That couple of sales or sometimes 10-12 kept my metrics up compared to the previous winter. The big important ones are disputes, chargebacks, and returns. The disputes take a human and they have to notify you and then their card company and it is a lot of back and forth to settle it. Most of the time even in your favor it affects your account. I understand it happens and 1 time isn't that bad. Multiple times in a quarter I believe? We have a zero no-return policy even as a retail furniture store. Our furniture comes with a warranty and the rest we as the business handle the rest in store. Even with the dip in the metrics there your picking up with the other days it's kinda a wash because your overall sales are roughly the same. I think you will be fine. We all have days closed or slower months but it's the overall health and growth of your business. Good luck!
Not to get too personal but is this information that has been provided before? I know many started with like a DBA or SSN and then got an EIN or became an LLC and needed to update information. You're not alone I've seen 5 or 6 other people as well and some 1 day and done. Others nope, 1 item at a time to upload!
