I know everyone loves cash and cash is king type thing. My only issue is our location and we are downtown but literally each way you go we are surrounded by interstates going up north or south. A mile from that is another interstate that goes straight across the whole state. We belong to the Chamber of Commerce and each meeting is about security and safety. We are in a prime location to be robbed. We have a floor safe and everyone knows its money and your life isn't worth it type thing. But cards I swipe they go and I just prefer cards over cash for that reason. I know a lot of people will carry a set amount of money so they don't go over their budget type thing and I get that but ughhhhh go get a prepaid credit card please! Lol 😆 luckily we are right next to the famous Cops and Doughnuts so we do have a lot of police presence in our downtown area.
A garden center that I am friends with went cashless 4 years ago (just happened to time out with the covid) because they do over 15 million in 3 months and having 30 registers with teenagers counting out tills and runners collecting was just getting too much. Now if you want to use cash you are able to buy gift cards with cash on the way in. Lots of Facebook backlash and yet in the end sales were up 17%.
I don't know that I would ever go cashless but I am fine with the few percent Square takes in exchange for the ease of transactions and speed. We are surrounded by the 3rd and 5th poorest cities in Illinois and literally next to a highway. Never has anything happened but it always could. I try and clear the registers every hour.,
Thank you! I tell everyone to drop every hour just to be safe. It's just a strange switch for our type of business? Most coming into a retail furniture store have a range or amount they want to spend and usually 9/10 out of 10 it's cards not cash? Thank you! You always have great insight or advice!
I know I don't want to go cashless or checks type thing but I'm a worry wort. Not so much for me but my employees. If the weather is bad I send them home and I stay type thing. Lately it's so hard because we go through stages of months of cash and checks and boom then cards and no cash? It's hard right now to figure out what customers are doing? Luckily I live 2 miles from our business and can be there or leave in just a few minutes. Like I said I'm worry wort and over think everything! 😆 🤣 😂 thank you for your insights it always helps or I don't feel like I'm going crazy!
Congratulations! My last loan in March slightly higher even though increased sales but it is what it is. June that offer was 1/4 of any loan after 12 years and I was shocked! Looking at the trends that what was going on with most. That loan I was 91% paid back with as well. I'm glad you got an offer and thank you so much for posting it helps others as well. Here's to a great summer coming up!
It sure does! I replied to your post above. Good luck, and if you have a chance, look at the pinned post's “click here” part. It does help, especially when it comes to business owners like yourself. It is hard to explain to a lot of newer users on loans 1-3 that you are just starting with your history and building a relationship; it is a little off at the beginning. You and others have that loan history, and years with Square play a big part. With no guarantee, we got so used to say 2017-2019 of that almost guaranteed offer at 70-75% it was clockwork for me. Now, as a business owner, I understand that at 91% (my last offer) that extra 20% is meant to benefit us by rolling over so much of the previous loan and more for us to invest back into our business. That is a good bump in your offer even if your loan amount stayed the same! My offers are still increasing as my sales have. Once you receive your offer I just try to remind people to remember roughly what your % was and use that as a rough guide going forward. It is important to note that we don't know any more than the rest and no guarantee is just that. The Mods do a great job here and understanding that they can not answer questions about your account or mine on a public forum is or should be understandable nobody wants their business out here. Keep watching your dashboard and keep swiping!
Hello, yes, Square is still doing loans. The % paid back is trending higher. The Mods have a post pinned above. The click here explains why the change or other relevant information about loans right now. You are absolutely correct that your history with Square is extremely important and plays a big role with loans. It's not you, obviously, as it sounds like you have a great track record with Square. All the positives, growth, increase in the volume of swipes, adding new customers, and one of the big ones in previous history with Square and loans. You check all those and 0 issues on returns, chargebacks, etc. Unfortunately, with no guarantee of when an offer will be or will come, all we can do is follow the trends here. It has been roughly 85%-95% paid back. Not all, of course, you will see a handful of 70s and the same for those paid off completely. They are still going out daily worldwide and haven't slowed down really. We just see the ones looking here is all. Good luck and hopefully soon!
