How long does it take for Square Loan Approval?

It has been three days since I applied for my square capital loan and I still dont have an approval.  When I look up the loan it still reads "pending"

Is it normal to still not have an approval?  Usually it takes maybe an hour to get approved and funded.

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Square Champion

@affbricda A few weeks ago, the Loans department posted this message on the Square Loans board.

 

At that time they said it could take more than 3 days.  Posts in this thread indicate that some people have waited for a week or longer.  It seems that Square has been unexpectedly overwhelmed with loan requests which is slowing things down.  You could try reaching out to Square Customer Success here and speak to them about your individual situation.  But I’ve seen no other updates from Square, so I have to assume that they are still backlogged. 

 

Sorry I can’t be of more help than this!

Chip A.
Square Expert & Innovator and member of the Square Champions group. (But NOT a Square employee, just a seller like you)

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