Hi @Brittney325. Since this is your 9th loan, you are probably well aware that the process of “the next loan” is rather mysterious. Having said that, I can say that 71% is probably at or below the average for next loans in the past year or so. I’ve read numerous posts/replies of people waiting until the high 80s and even 90s, and have also seen a higher number than usual of sellers who don’t receive their next loan offer until they’ve paid off the current one. I won’t go into all the reasons why that might be happening, because I’m sure that you read the news. Oh, and yes, the amounts are trending lower unless your card sales are trending up significantly. That is mostly a function of persistent stubborn inflation, since flat sales with high inflation are the equivalent of lower sales with low inflation. Ugh.
If you need money for your holiday season, etc, I’m wouldn’t wait for it to happen from Square. I know that’s not what you want to hear, but as a fellow seller and someone who has watched things this year it is the way that it is. Of course, Square might surprise me and everyone else and suddenly start making offers like they used to, but I can’t recommend “betting the farm” on that possibility. Better to be prepared with a backup plan.
I wish you well.
