You're not alone and I wouldn't stress about it. Many have had to add EIN numbers, reverify all information address, phone number etc, sounds like a good update is all. Some businesses were a little more intense but they were ones I guess considered that go through more scrutiny than say retail stores. If you sell like CBD I believe it is oils or supplies. Everyone is different but it looks like a big update of information.
Ugh, I feel you on so many levels! Unfortunately, I am going to be as honest as possible about it. 1. Since last summer it’s been trending much higher % paid back to completely paid off for the majority not all of course. Here and there a few low 70s pop in. 2. Again, not everyone but most are getting lower offers or around the same. A handful of people who at least come here said they got 3k higher than the previous offer. I also, can’t connect my bank and this year more than ever before is more cash vs cards. But my credit union isn’t changing their rules for me and it’s due to security issues. I’m fine with that then let people upload 3 months of bank statements or what ever! Rumors floated a couple of years ago about getting rid of the algorithm and going to a line of credit and then they could evaluate it every 4 or 6 months and adjust it. That was a rumor. I was lucky 4/5 years ago I went to my small little credit union and in about 3 hrs from start to finish got a line of credit with them and I don’t touch it but for emergency or deals I can’t pass on. I’ve been with square for 12 years and we all got so use to 4/5 years ago like clockwork I had an offer around 75-78% paid off. Now this year I have been 91% 84% 86% and my last one no kidding 69%!!!! You are right though this forum has been a curse and a blessing because each of us sharing our information is more insight than a script. You see there story, their offers etc. and you can follow the trend. I hope that good ole algorithm picks you off soon and you can get to building and kick some butt! Good luck to you really and please keep us posted.
Oh, yes! You do not need to meet your 60 days or whatever your minimum payment is. I have many times after I my minimum payment was meet and only paid a couple more days received an offer. After 12 years you kinda pick up the big do’s and don’t. I meet my minimum amount way ahead of time but definitely meet that! If not that means their last offer was too big for you to handle. 2. Try not to do too many, especially in a 4 mth-6 mths span of multiple refunds, and disputes. We have a zero return policy and our furniture already has a warranty and the rest we take care of in house. Those disputes and refunds trigger a person to physically do it and investigate why, who, and what type of thing and then back and forth with card company. The rest are important to stay green but I have been offered loans when one of metrics said needs works. So have many others. But definitely, if you have a slower period or a week or 2 of cash and checks. Just watch one or two big transitions will eat that up. I'm retail furniture so I see a week of cash or checks and then boom all cards. Keep swiping away what line of business are you in? Whenever I run a good 3-day sale on Thurs -Sat. And if I am around 70%ish. Usually, Saturday night it triggers an offer. Just lucky, coincidence? I don't know 100% not with an algorithm but I can pay down over 20% of a loan in 3 days it's triggering something to look at. I have done it before at 13% of my loan paid off and nope not happening. But in the 70s I have had it more often than not. But, like I said it is not a guarantee and honestly nothing is without a human connection. All POS systems use an algorithm type system that picks off or triggers something to look at it.
😆 😆 my first year with Square and then all it was plugin the phone and of course, I was talking away with a regular customer and meant to hit 100.00 and added an extra zero!! Ugh, I didn't catch it nor did the customer until 3 days later! I felt horrible. Because of the turnaround time then I wrote her a check for 900.00 and we just settled it ourselves back then. I have been with Square for 12 years I believe? I have not had 1 return, refund, etc since then either! I stop talking and pay better attention 😆
That’s a 50/50 shot really. I’ve seen it go even lower than the first low offer and I’ve seen the same as the previous offer come in as well. Most people who are getting the lower offer have been paying it back in say 4 months after that most of them said the next offer was much higher than the last one and about 3-5k higher. I think think I can really remember anyone coming in and saying “wow” 25k higher then the last offer not in the last 18 mths or so.
