Unfortunately, the offers right now are kinda bouncing for some around 70-80% my last one 81/84% paid off really busy 3 days and late Saturday night came in accepting it and funded Monday. My previous loan was 91% paid off. I have seen the percentage paid back is higher for most (not all) one just posted paid off since December and just got his offer 4/11/24. Keep plugging away and hopefully it will come in sooner than later! Good luck!
If you jump on any of the POS sites like this no they aren't happy either! I read 3/4 on Sunday and it's lenders in general that are holding back. The market is all over the place and they are waiting to see when it settles down. Just keep plugging away and hopefully soon things will settle down and back to normal! Good luck!
I do as well when I'm getting close to an offer. I believe that is what kicked in my last offer. I had a 3 day sale going on and it was extremely busy and then boom late Saturday night my offer came in. Slightly higher than the previous offer but like other poster stated above. Mine should have roughly been around 10k not 2k increase. I took it and was funded on Monday. Good luck to you!
In general, it appears that most Square Loans are not starting to be be offered until the loan is 80-90% paid back if not fully. This is just observed from posts of people getting offers and loans, not an official stance. So you are getting closer to maybe getting an offer. Getting it early is almost like a penalty because you are paying back your loan with part of the new loan. There isn't anyone that can tell you any different than what others have said as that is how the loans work there isn't a button that someone can push that will turn your offer on as much as we may want that.
The good news is they have never loaned as much money as there are right now. in the last 90 days 129,000 people got loans totaling 1.32 billion dollars. That is 1 loan a minute, just wild numbers.
Keep selling is the best you can do for your business to keep growing and maybe there will be a better opportunity down the road. I know I was upset before about missing out on a purchase and was happily surprised when something better came along. I ended up buying an entire business, property and all, at a bankruptcy auction. Had I bought the property 2 months earlier I wouldn't have been able to buy the business.
I know and understand unfortunately, I have been watching the trend with the majority now it's a higher percentage paid off or some completely paid off. There is no guarantee and how the algorithm works but I do know people are still getting loans daily. Hopefully, it will kick in for you. I just watch the majority and the range their getting it at. Good luck to you and I hope it comes quicker!
💯 agree! I take offers when I need them and I don't accept every loan. Especially during our busy time in the summer that adds up fast! I only put 10% away and that adds up fast! The end of the month I go get what supplies I need and still have 10% extra going into the bank. I wish everyone great luck who is waiting for an offer!
First one I've seen that low in long time! It's moving and people are posting offers are rolling out last week and this weekend a lot. All high % 1 paid off completely. Myself personally, I prefer if I take the offer I want all my offer or at least 95% paid off type thing. I don't want 25-40% going to an old loan. Unfortunately, everyone or their situations might be different! If I didn't have my line of credit I would be lost or in a few tight spots. Hot water heater went out and 2 days later the furnace! SMH. But, I have a great relationship with my Credit Union and 8.75% I won't complain but dang a double wamma! This was a few years ago!
Yes, I've seen about 7 now this week! Yours the lowest % in a long time! I'm sorry you missed out if you needed it. I'm not sure what the real time it stays up as it seems to be different for people. I had one but it was a late night Friday and stayed till Monday night and then gone. I didn't want it or needed it then. I've also received them late Saturday night and accept it and Monday before deposit. So I'm guessing weekends compared to week days move different. I know once it's gone back to the algorithm you go! I've seen many call on the offer disappeared before they could hit it and wanted it and no luck. One nice thing when it comes back and you will have a lot more paid off!
As to your first point, there is only anecdotal evidence that says yes from others saying it, but that is not an official yes.
And I 100% stand behind your last comment, wait and let you start keeping all that money to pay your other bills until it is impossible without a loan. That makes a huge difference "keeping" all your daily sales vs 80%.
