Loan approval time

[Jessicasllc]

Hi we have had 4 capital loans, and were selected for another one.  We applied 4 days ago and it is still pending.  I have checked our dash board and they are not requesting any other info.  All of our other loans were approved in a matter of hours.

[Jessicasllc]

So, they have sent me a request for information about a particular transaction.  It is easy to respond with the requested information by using the like they provide in the email.  I sent the info like 10 minutes after they sent me the email.  Less then 1 minute after responding to the email, I received another one from Square staring that they received it and would process the request in 1 to 2 business days. I will keep you updated about the speed of approval!

[katieand]

Hi @Jessicasllc - Glad to hear you got your question resolved. Let us know if anything comes up (that isn't account specific since we can't answer those questions for your privacy). 🙂 

[tsg-matt]

Did it work out for you? 

We've had 5 or 6 capital loans and they are usually approved in 4-8 hours, despite the quoted processing time.

Going into what I believe is the fourth day now and haven't heard anything. I spoke with a customer support agent the other day and they told me I'd probably hear something by Friday(today) but nothing 😞 

Noticed the "Square Secure" section that has all the business documentation and pre-emptively added all that stuff in today because I thought maybe they'd end up asking for it. Up 20% for the year and wanting the Capital to really hit Black Friday out of the park. 😄

[discountlinens]

Hopefully you hear something soon. We are at 78 percent paid on our 6th loan and hoping for an offer very soon for the holidays as well. What percentage were you at when offered?

[tsg-matt]

I think we were at 55% remaining or so. Having a super strong year though like I said so we are ahead of schedule.

[discountlinens]

Fantastic. We are having strong sales now too and will until first of the year but could possibly double those with another loan so really hoping for it. I’m sure you will be just fine. Keep us updated 

[discountlinens]

Did you ever get an approval?

[Jessicasllc]

Yes we got an approval after they verified an invoice that happened at the same time as us applying.  Just minor paperwork stuff.

[Jessicasllc]

It worked out well for us.

[discountlinens]

Yeah good for you. Hoping this will be our week!