thread Re: Loan Approval Timeline in Banking With Square

Loan Approval Timeline

Lyblood1 — Sat, 20 Sep 2025 12:14:53 GMT

Hello All,

My husband is a sole proprietor, however I keep the books and have been the one applying for the loans in the past, however I was just recently diagnosed with a debilitating illness so he is taking over that part. He got an offer for a loan which would be really helpful for some inventory needs, but he applied with his name. Normally approval is within 30-40 minutes, but it’s been some hours now which is unusual. Is he needlessly panicking or is there an issue since the previous loans had all been applied for by me?

Re: Loan Approval Timeline

Twpchair — Sun, 23 Feb 2025 02:35:37 GMT

Hello, the business is in his name and he's the owner and the one responsible for the loan. I am usually a weekend offer person and honestly, on a late Saturday, I have waited from 20 minutes till Monday. It states 1-3 business days to allow. I would not panic at all honestly ok. If they need more information watch your dashboard first and always don't wait for an email as they are slower. The loan department to a human besides customer service isn't open on the weekends even. I have before received my papers on a Sunday and sent right back. From there in where your old loan was look there and see if or when it goes back to zero and the old loan will be down under it with all your previous loans. Then you are all set and unfortunately welcome to the weekend club. You need anything else or a better walk through how to check if it is processing but you're just waiting? Let me know ok. Relax and take care of yourself first.

Re: Loan Approval Timeline

Lyblood1 — Tue, 25 Feb 2025 16:39:13 GMT

So we got a notice for more information and we sent it yesterday. Hopefully we'll hear some good news today. It's currently still pending.

Re: Loan Approval Timeline

Twpchair — Tue, 25 Feb 2025 18:50:29 GMT

Remind me there's 10 waiting? Were you 7 business days plus 2 days?

Re: Loan Approval Timeline

Lyblood1 — Tue, 25 Feb 2025 18:53:02 GMT

No. We got the offer on Saturday. Request for more information on Monday. So it’s just been 1 day since I submitted the docs to them.

Re: Loan Approval Timeline

Twpchair — Tue, 25 Feb 2025 20:27:57 GMT

Okay, great, and hopefully it goes very smoothly and fast for you! Best of luck

Re: Loan Approval Timeline

Abby_M — Wed, 26 Feb 2025 22:01:23 GMT

Hi @Lyblood1

We appreciate you letting us know about your situation

If you have been invited to apply for an offer, applications typically take 1–3 business days to review.

If you have not received a credit decision within 1–3 business days, we may need additional documents from you and your business as part of the application process. You will receive a notification on your Square Dashboard.

Feel free to reach out to us directly if you have any additional questions!

Re: Loan Approval Timeline

SPPhotography1 — Tue, 26 Aug 2025 22:24:27 GMT

I have been with Square for well over a decade now and have received and paid off over 12 loans. I received a new loan offer at 61% last Friday, which I accepted. This is the very first time it wasn’t immediately approved and deposited into my Square Checking. Here it is Tuesday mid-day now, and it is still pending. What in the world is going on??? I’ve messaged Square and called the loan phone number only to get the same generic answers as always, 1-3 business days. But in over 15 years, this has NEVER happened, not 1 time. Did Square change something, am I being denied? Has anyone else experienced this and finally got approved and money deposited after a long wait? Looking for a little reassurance or should I begin considering moving to a different processing company? Thanks! 😊

Re: Loan Approval Timeline

Twpchair — Wed, 27 Aug 2025 10:54:31 GMT

There's been a large amount approved and I believe a few of us answered back to you. If your deposit hasn't hit check your dashboard first and see if they need anything else if not I would call in and explain your situation. A late-night offer on Friday followed by 1-3 business days would put you in that range. 1st check your dashboard and if they are not requesting more information on or for anything I would call them. Let me tag a Mod who is amazing. Remember she can't give you any private information about your loan here (public forum) she might have some insight though. @abbeyc anything else besides calling in? Thank you in advance.