Hello, I apologize I've tried 3-4 to reply, and the boom screen locks up, then under maintenance. Not a good few days on here! When I get to your percentage especially, if I run a sale Thurs-Sun and do 10% off storewide, I use Facebook and Google for this. They are powered tools and are free. I take loads of pictures and post a few times a day with sneak peeks of new arrivals, older furniture, floor models, etc, with further markdown. Our business neighbors have a doughnut and bakery store. I usually get 20-25.00 worth of baked goods and now I would do hot cider and coffee. They or we give each other deals. I post the events that going on. Coloring contest for the kids, pumpkin coloring contest. A gift certificate live drawing on Saturday. All week prior I posted daily on both and boosted some of the posts for 9.95 for 5 days usually in a 100-mile radius and these women came. Last Saturday we tripled to very close to 4x our busiest day. I spent roughly 60-75.00 dollars. It jumps you up and in sales and this is just imo that boost kicks in something in the algorithm again imo. I went back and looked and 85% of my offers were Saturday night usually 7-10 pm after I updated. Thurs is another day again I have done Monday -Wed early bird specials and it kicks it in. I'm retail furniture and it is a little easier to do sales and deals than other industries. Just don't forget the power of free advertising for myself 95% of my first customers are women and then they bring in their spouses. Good luck, I hope you have received a loan offer by now! Hopefully, all the bugs will be worked out.
Lately it’s been a roll of the dice but I would say mostly have trended lower and lower and then they accepted it. Paid it back quickly roughly 4/6 mths later than the offer went up not huge amounts like 4/5 years ago but 3-5k or so for the most part. I follow the trend for about a year and a half now and it has been trending higher % paid back to completely paid off and lower offers or close to the same. Not all of course but on the whole. Now, I will say around the 1st part of October even until now each week I’m seeing more and more 70s pop up still a little less offer but as things mellow out more and more each day the lenders will relax and open that cash!
Ugh, I know it's not what 75% expected or wanted. Hopefully, you follow the trend and pay it back quickly, and a new offer comes in most cases go back to your last offer ( not this one), and about 3-5k higher if you continue to maintain. Not all of course but following the trend just a handful that's been waiting for one have stated “My offer was double the last one” not many of those. Hopefully, the funds will help!
Well, I just answered your Monday question and it looks like although lower a Friday after a holiday offer came in! That's why it's extremely hard to give a 100% answer. We are all different, we process differently, and we are located differently. Our lines of business are different. All most of here to help is offer our opinions and what we have been seeing on the whole. Very few that post on here at least have had substantial increases in their offers. 50/50 split between lower or stayed the same. A good 25% 3-5k higher and maybe 5-10% received close to or around double the amount. I know it doesn't make sense but lenders are starting to loosen up a bit. Hopefully, we can get back to 4/5 years ago and could count like clockwork 70-75% new offers and always higher as your business grows!
That is strange the 2nd business getting one with only 2 mths of activity on it? And ugh, really 50% less, and in a couple of weeks almost 30% paid off? That's like a payday loan! Hopefully, you will knock it out fast, and the next offer they can or will adjust it higher to account for what you are processing.
Any luck yet? It’s been trending higher to completely paid off but in late October and November I’ve noticed more and more upper 70s and 80s popping up. Hopefully, we are getting past that trend and get back to semi normal levels. Good luck and thanks for the update! It does help others who are looking what % everyone is at or around.
