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How long are loans taking to be approved in 2023?

I got a loan offer and I accepted it, but it is still pending. What’s the turnover rate to get approved? In the past my loans have been approved in the same day, it has been 3 days and no response. 

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Hi @Jose22282.  You might already know this, but to clarify.  It can sometimes take up to 3-5 business days (excluding Saturday and Sunday) for loan approval after acceptance.  The factors that can delay this (that I know of) include the fact they might have sent out a lot of offers recently and are backlogged, your number might have come up randomly for a deeper review, and recent changes in your processing rates/volumes or other account data.  As long as it hasn’t been over 5 business days, there’s no need to fret, other than the obvious fact that you want your money now, which I understand! Ha.

 

If you’re sweating it, you can try calling the Loan Department.  Here’s a help document with their direct number as well as other information you might find helpful.  Note that that department runs on Pacific Time, 7am - 5pm.  Just give them a call, but if they are backlogged don’t be surprised if you have to leave a polite request for a call back.

 

I wish you all the best!

Chip

If my answer resolves your issue, please take a minute to mark it as Best Answer. That helps people who find this thread in the future.

Piper’s Ice Cream Bar, Covington KY USA
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Hi @Jose22282.  You might already know this, but to clarify.  It can sometimes take up to 3-5 business days (excluding Saturday and Sunday) for loan approval after acceptance.  The factors that can delay this (that I know of) include the fact they might have sent out a lot of offers recently and are backlogged, your number might have come up randomly for a deeper review, and recent changes in your processing rates/volumes or other account data.  As long as it hasn’t been over 5 business days, there’s no need to fret, other than the obvious fact that you want your money now, which I understand! Ha.

 

If you’re sweating it, you can try calling the Loan Department.  Here’s a help document with their direct number as well as other information you might find helpful.  Note that that department runs on Pacific Time, 7am - 5pm.  Just give them a call, but if they are backlogged don’t be surprised if you have to leave a polite request for a call back.

 

I wish you all the best!

Chip

If my answer resolves your issue, please take a minute to mark it as Best Answer. That helps people who find this thread in the future.

Piper’s Ice Cream Bar, Covington KY USA
Website
Facebook
Click here to see a list of third-party apps I use to add functionality to my Square account!

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Just wanted to tell you thank you for giving me an answer. I know it’s been a long time but your answer was very helpful!

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