Loan funds not deposited

[Am1970]

Hoping someone can help or advise...

I had a loan authorised on the 7th of December, but the funds are still not deposited into my account and its now the 14th. I am already paying it off, but am unable to access it.

I have been on the phone to square all week about it, but they can't give me an answer. I keep getting told it's being escalated and they'll get back to me, but nothing. I'm the one who has to keep calling them.

My bank account is linked and authorised, so it's not that. And the bank's timings have nothing to do with the delay. It's a square issue.

Not sure where to go from here...

If anyone has had the same issue, what did you do to resolve it? and how long did it take? I'm very frustrated that I'm already paying it off from my daily sales.

Not good at all square.

I took the loan out because i needed the help and now I'm taking home even less a day due to the repayments. But with no benefit of the loan funds.

Help!

[Lou8 · Accepted solution]

Hi @Am1970 , thanks for posting on the Seller Community. I'm sorry to hear about your experience.

We recently had a disruption affecting the deposit of Square Loans in the UK, which was quickly resolved by our engineering team. You should have now received your funds, but if not, I invite you to contact our Support Team directly.

We thank you again for your patience, and apologise for any inconvenience this may have caused.

If you have any other queries about Square, feel free to reach out to me !

[Arronm1]

Hi there l,

Exactly same issue here. Approved on 13th December told I would receive funds by the 18th December. Loan shows in square app and payments of 20% of sales are being taken but no sign of the actual loan into my account? Any help? 

Thanks 

Arron