Loan Application still Pending/under Review

[Kelsdoh11]

[The title of this thread has been edited from the original: Capital loan pending]

I have always gotten approved right after they have offered it to me, this time it has been pending for atleast 3 days, I am not sure if it just takes longer now or if this is a bad sign? I have never been denied. Anyone else have this happen to them?

[TheRealChipA]

@Kelsdoh11 My first loan from Square after they switched away from a third party financial institution to their own took a few days, as I recall.  It seems everyone is short staffed these days and that everything is taking longer, period.  My grandmother had a saying — don’t borrow trouble.  It only stresses you out!  Fingers crossed you hear something early next week!

[Kelsdoh11]

Thank you so much for responding!

[Ntillery94]

Hey currently on day 3 did you ever get approved ? Im starting to get worried. 

[Kelsdoh11]

Yes! They wanted some additional information and then it got approved.

[Ntillery94]

thanks for the reply. 

[TGHOST]

Called on the 4th business day. They told me they would have an email for me at the end of business but nothing yet! 

[Arie]

I've merged your post to this thread, where someone else had a similar question @TGHOST. While we're not able to look into your loan offer via this public forum, the team will be in touch with you shortly. Keep an eye on your inbox! 

[SarahOneStopSj]

How long after you called did you receive an email? Were you approved? 

[Laurie_ · Accepted solution]

Hi there @SarahOneStopSj, just jumping in here with some additional information!

Loan application timelines can vary based on the amount of information the Loans Team is required to review. Usually, status updates are sent via email within 1-3 business days from the date you submitted your application, however, in some cases it can take longer.

When determining your personalised loan offers, this team considers many factors including your history with Square and your payment processing volume. 

If you have further questions about your loan application, please reach out to our Support Team at 1-855-700-6000 between 6 am - 6 pm Pacific Time Monday - Friday. 

[SarahOneStopSj]

Hi there, I'm in the same waiting game. Normally my loans are approved hours after I apply, I have had 11 loans total from square and my business has only grown every year, has anyone had to wait longer than 3-4 days? Today is day 4 with no response yet. 

[LASHANDHAIRPOUR]

Ok mine also waiting since Friday and usually it’s approved within a few hours 

[JJ_]

I recommend reaching out to our Square Financial Services team @LASHANDHAIRPOUR. They can be reached at 855-700-6000 between 8 am - 5 pm Pacific Time Monday-Friday. If you call outside of these hours, you will be required to enter your Customer Code to validate your account.

[LASHANDHAIRPOUR]

I haven’t been able to speak to anyone I’ll try again. 

[SarahOneStopSj]

I called yesterday and there was a long wait time so I opted in for a call back, after they called me back I got notification the loan was approved in less than an hour! 

[LASHANDHAIRPOUR]

Ok thank you

[Ntillery94]

Hey ! I did receive mine on day 3. Don’t count the weekend days.