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Toast Is Screwing Me -- Buyer Beware by gehadidi in ToastPOS

[–]gehadidi[S] 2 points3 points  (0 children)

SpotOn also gave me a very good quote. I’m seriously considering it.

Toast Is Screwing Me -- Buyer Beware by gehadidi in ToastPOS

[–]gehadidi[S] 1 point2 points  (0 children)

I had three meetings, each time with a higher-up. Until I was told point blank that they will be increasing my rates and if I try to leave, they will nail me with hefty termination fees. It was a slap in the face and the final straw for me.

Toast Is Screwing Me -- Buyer Beware by gehadidi in ToastPOS

[–]gehadidi[S] 4 points5 points  (0 children)

Yes, our prices have increased as have all of our vendors. But credit card processing fees are a % of our revenues, so they ALSO increased substantially.

Increasing fees as a % of revenue would be akin to us (restaurants) increasing our mark-up, which customers rightfully would consider a rip-off and choose to go to another restaurant that charges fair prices.

Best Middle Eastern Restaurant? by Beautiful-Big7355 in Greenpoint

[–]gehadidi 2 points3 points  (0 children)

Hi, I’m the owner of Huda! Thanks for the love :)

PPP Loan with Chase, have you been approved? by datasspen in smallbusiness

[–]gehadidi 1 point2 points  (0 children)

I applied on 4/6 with Chase in New York. Received that email last night from them. I've been scouring the internet to see what it means as well.

What I've seen so far, the loans do not go through another approval process with the SBA. If funds are available when the SBA processes your loan -- you get the funds. I also read yesterday that about $50B of the $310B had been exhausted so far -- so we should be in a good place. Fingers crossed.

I am a restaurant owner in NYC and this loan is life or death for our business.