The timestamp is the last time your account was reviewed by the algorithm. It should be updated every day. If you didn't have that timestamp that means the algorithm didn't pick up your account to be eligible or see if you are eligible for a loan. Mine is pretty regular between noon- 2:30 pm. Slower or later during the holidays and sometimes on Saturday but pretty consistent. Once you have been reviewed my offers tend to come around 7-10 pm Eastern time that night. I have had some by 4 pm during the week but I tend to be more of a Saturday night offer person. That's our busiest day, or if I run a sale I will run it on Thursday -Sat and it boosts sales and jumps up that percentage. It's been a rough year for most with the percentage now compared to 4/5 years ago. I could guarantee an offer between 70-75% not anymore and it hasn't been for well over a year. The trend was from the upper 90s to completely paid off. From late October to now we are seeing more and more in the upper 70s and 80s receive offers but that's still just a good handful. Will we ever see the 70s as the norm again I am not sure. IMO no I don't see that happening on the whole as it is a lot to roll over for most people and you instantly lose 25% of your new offer. That's just IMO and watching how things are going on average. Good luck hopefully it will kick in soon with a great offer.
Yes, so if you process a percentage of your daily sales will be taken out at the end end of the day and the rest deposited into your account. If you don’t process anything that day then they don’t take anything from you or your bank. Square will send you terms and conditions for repayment and we are all different. Mine could be say 14% of daily sales and 60 day minimum to reach. We are all different and process differently. Just make sure you watch your metrics and your minimum loan date and make sure you meet it and then you will establish a great business relationship with square and as you grow so do your loans! Welcome and good luck. You have any questions or concerns just ask there are tons of us here to help.
I'm sorry I read that wrong I apologize. I believe you were asking if the metrics not loans go off your daily sales. That would be yes to both. If you didn't swipe or close for the day and didn't process a card a loan percentage isn't taken out. Also, if you didn't process the algorithm has nothing to pick up till the next card you take.
Well, that's the million-dollar question! Some people swear by it but usually get an offer that night. With the holidays everything will be slow. Are there any issues with updates? That I can check. Have you been processing regularly and that day it didn't update? Have you been updating like normal till now? If so, let me check with any issues reported.
