Solved: Loan Application Review Timeline Update - Page 3

vickie_ · ‎07-27-2022

Hi Seller Community,

The Square Loans team has recently received an increase in loan application volume, and our review team is doing their best to review them in a timely manner. Some applications may exceed 1-3 business days, but your application will be reviewed as soon as possible. Please wait for an update through email. We appreciate your patience and apologize for any inconvenience. Please visit our Support Center for more information about Square Loans.

Vickie
Square Loans Team
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This is a service email from Square Financial Services, Inc., a wholly owned subsidiary of Block, Inc. All loans are issued by Square Financial Services, Inc, a Utah-Chartered Industrial Bank, Members FDIC.

Nancy__ · ‎11-21-2022

@Nchairsalon

Thanks for taking the time to post.

You should receive a status update within 1–3 business days from the date you submitted your application.

Feel free to contact us directly for any additional questions.

Nancy__
Square Loans Team
Sign in and click Mark as Best Answer if my reply answers your question.

Square, the Square logo, Square Financial Services, Square Capital, and others are trademarks of Square, Inc. and/or its subsidiaries. Square Financial Services, Inc. is a wholly owned subsidiary of Square, Inc. All loans are issued by Square Financial Services, Inc. a Utah-Chartered Industrial Bank. Member FDIC. Actual fee depends upon payment card processing history, loan amount and other eligibility factors. A minimum payment of 1/18th of the initial loan balance is required every 60 days and full loan repayment is required within 18 months. Loan eligibility is not guaranteed. All loans are subject to credit approval.

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Nancy__ · ‎09-27-2022

@eatMoroccan3119

Thanks for taking the time to reach out to us.

You should receive a status update within 1–3 business days from the date you submitted your application.

Please contact us directly if you have any other questions.

Nancy__
Square Loans Team
Sign in and click Mark as Best Answer if my reply answers your question.

Square, the Square logo, Square Financial Services, Square Capital, and others are trademarks of Square, Inc. and/or its subsidiaries. Square Financial Services, Inc. is a wholly owned subsidiary of Square, Inc. All loans are issued by Square Financial Services, Inc. a Utah-Chartered Industrial Bank. Member FDIC. Actual fee depends upon payment card processing history, loan amount and other eligibility factors. A minimum payment of 1/18th of the initial loan balance is required every 60 days and full loan repayment is required within 18 months. Loan eligibility is not guaranteed. All loans are subject to credit approval.

eatMoroccan3119 · ‎09-26-2022

I was offer our 3rd Square Loan last Friday and I accepted , it is now awaiting review / approval. How long does it usually take for you guys? I am on my 2nd business day and still no update. Usually it gets approved within 1 day. Anxious haha.

New loan offer came at perfect time as we have a solid marketing plan in place hehe

GlamKeyy · ‎07-11-2022

I usually get approved within a day. I’m on day 3 and still pending. Have not heard anything. And I have reached out to support with no help. They just said I will receive an email.

vickie_ · ‎07-12-2022

Hello @GLAMKEYY,

Thank you for taking the time to reach out.

I have gone ahead and followed up with an email regarding your question.

Vickie
Square Loans Team
Sign in and click Mark as Best Answer if my reply answers your question.

This is a service email from Square Financial Services, Inc., a wholly owned subsidiary of Block, Inc. All loans are issued by Square Financial Services, Inc, a Utah-Chartered Industrial Bank, Members FDIC.

Kerryb19 · ‎10-10-2022

Hello, I have had a loan offer that I accepted and have been in pending status for 3 days. How long does it typically take to go from pending status for an approval? These funds could really help purchase more equipment for my DJ and entertainment business.

Adamscottsmith · ‎10-10-2022

So we experienced a longer approval time on the second one they offered us, but the first one took about two weeks total. I think it was like five or six business days.

Kerryb19 · ‎10-11-2022

Thanks! My first offer was approved and in my account within 15min. Just wanted to make sure it wasn’t an issue since it’s now past the 3day timeframe they quote you on the website when applying. I appreciate you taking the time to respond. The information you provided me with was very helpful.