Unfortunately, after 12 years it is the season. This isn't the first time I've seen it slow down a bit on offers and now it's the perfect time too! The Feds lower rates again a half a point but better than raising them! I know it's not a help but hold tight keep processing and after the 1st it usually lights up in here! Good luck!
I tend to be on a Saturday as well! I process like crazy on Saturday and try to trigger the algorithm to pick it off. My % has been crazy like most this past year. From 91% to my last at 69%. No reason why I am paying back by 6 months, not 18 months but the algorithm just seems to not pick it up and adjusting it correctly to the 18 months. Hopefully, after the 1st and things calm down lenders will let that money flow again! Good luck!
They are still lending out daily worldwide! As Square is growing and expanding their brand loans have increased in all honesty. I know it doesn't seem like it but the amount of people who use public forums vs actual users is a drop in the bucket. I do agree that things are changing with loans. 12 years with square and until about 4/5 years ago I could almost guarantee an offer between 70-75%. Now, I can literally go from 91% to 69% with nothing changing in my processing really. It’s hard when you are waiting on an algorithm system to pick you off and trying to figure it out 😂 good luck! We have a list of about five things we believe that triggers it. That’s all based on years of trends though and not cracking a safe! Good luck to you really!
This is just going off trends and watching other people ok? The algorithm has its own mind. But here you go! Increase in processing! The more you swipe those cards the better! The dollar amount is great as it’s eating up your loan but also a good mix of regular customers and new customers is great. That’s growth and the word is getting around. Please 🙏 try NOT to do chargebacks, returns, or the biggest one is disputed. Those trigger the system and a human has to get involved now. Too many will hold up a loan. If you have a return try to take care of in-store among each other first if not having 1 or 2 a year isn’t horrible and most have no issues. I’m retail furniture store and all of our furniture comes with a warranty already so I have a zero-return policy since day 1.
We are all gonna have to remember that the days of 70% paid off isn't the norm any more. Very few posts have said the received one in the low 70s most (not all) are in 80s to low 90s. A good handful this winter completely paid off! So we know those days just aren't happening and we should be ready for it. As the Market and economy flex so do lenders. Square is processing loans everyday in record numbers. Only some square user post here. Good luck to everyone!
