Hello! When it comes to cracking the algorithm, good luck with that! At the moment, there is no guarantee of receiving an offer, regardless of when it might come in. Overall, lending has been quite tight, especially with companies like Square that offer loans.
Metrics are valuable for us as business owners. Square considers many factors when determining whether and when to extend an offer. Positive metrics include growth and an increase in sales compared to the previous month or quarter. Additionally, metrics related to the number of swipes per day and the average amount per swipe are important. Acquiring new customers also contributes positively.
The overall health of your business and your relationship with Square are crucial. It's beneficial to minimize negatives like disputes, chargebacks, and returns. Generally, the repayment percentage is higher than the percentage of loans paid off.
To improve the chances of receiving an offer and potentially securing a larger one, my best suggestion is to keep swiping every day and focus on making significant improvements in all key areas. Although there are no guaranteed offers at specific percentages or under particular terms, those who frequently post about receiving offers tend to see an increase in their lending opportunities.
Good luck, and please keep us posted! Sharing your experiences can help others as well. We are all different and process differently and what might work for one could be the opposite for the other. Business owner. It's pretty simple though really if sales are down i would expect a larger offer, if they are the same i would expect about the same offer. If sales are up 65% imo i would like to see a pl larger offer. Again, with no guarantees. This is the best we have to offer users sharing information. Good luck to you!
