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Does square capital take longer now?

Hello squares. Just wondering if anyone else is experiencing delays in between receiving offers and getting acceptance with the new square loan model.  I am going on my 4th round, and I've been waiting for approval now for four days. In the past it was always cleared within a day. 

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I am two weeks after a 65K six month payoff with no offer. Previous 3 offers re upped right away. We are opening the dining room with the funds from buildout of 3 previous loans. Now we stand to up sales by 3K per day by opening dining room and wanted next loan for POS and foundation. we are in square limbo. Frustrating. Clearly things have changed. I have reached out to square. I'll keep this forum posted and informed.  

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Alumni

Hi @hesterskitchen

 

We're sorry to hear of your frustrations, and I just wanted to let you know that our team is on it! 

Our continuously strives to make Capital available as quickly, efficiently and conveniently as possible for our sellers--we want to keep up with your growth! We're so glad to hear that you are expanding!

 

You will hear from us soon via email due to the sensitive nature of the information regarding your account. 

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We still have not recieved any communication from Square Capital....hope to hear soon Thank You 

 

 

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Hi @hesterskitchen!

 

Thanks for being a Square Capital seller--due to the sensitive nature of your information, we will be contacting you via email. We'll email you within the hour!

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Hey there! After seeing all this it seems I’m not alone! I paid off my capital loan 100% in less than 2 months due to high processing volume... and still have yet to receive a new offer... did we just pay it off too fast? 😂 @GloriaZ

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I’m guessing it’s random because they sent me an offer and it wasn’t paid in full but the repayment percentage was higher 

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I’m having same issue . I just hired  A new hairstylist and was depending on the square loan to purchase her styling station , styling chair , product , tools , and all of the equipment to get her started.  I have clients waiting in line to get an appointment but no hairstylist station available until the loan will go through . I  excepted the loan  on Sunday and usually the next business day it will automatically deposit it is now the end of the day on Tuesday and I received no email nothing . This concerns me because I have clients that have been waiting to come in and if I can’t take care of them they will go somewhere else . 

 I also opened up a second square account for my second business  that will launch in two weeks this concerns me  that I have put so much of my business and squares hands .  I’m hoping that this is just taking a little bit longer than usual and it’s not something that will affect my business in the coming weeks . 

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Hey! It seems to take a little longer now, but since I’ve written this I’ve gotten two more. I think they strictly deal with the Business week now, and dig much deeper than they used to. Both times they also asked for more info before granting it. Long story short, don’t fret yet.

good luck!

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Alumni

Hi @HonestTom!

 

In general, our goal is to get Capital to our sellers as quickly and conveniently as possible! New offers for Capital are dependent on many factors such as your processing history with Square. Typically, if you have already accepted your Capital offer, the approved funds should be deposited into your account the next business day. 

 

That being said, your situation sounds odd! We are currently investigating your account, and will reach out to you soon regarding any updates via email due to the sensitive nature of your information. Thank you for being a Square Capital seller, we're looking forward to chatting soon! 

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Much appreciated!

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Hi! Just wondering if you could look into my account. I understand the process is not as fast as it usually is. Thanks in advance 

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Hi! Just wondering if you could look into my account. I understand the process is not as fast as it usually is. Thanks in advance

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Hi @Sleek207!

 

Thanks for your message and for escalating this case to us--we are looking into your account now and you should hear from us within the hour.

We may be waiting on specific documentation, more information from you, or we may be looking into additional items for your account! 

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@GloriaZ   Ok.. thanks! Everything is the    same from my last loan 

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@GloriaZ I'll wait for the call

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Yes same here! It takes much longer than before. Going on 4 days for me when normally everything is done in 1 day.

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Don't fret. Mine eventually came through, on thanksgiving morning after I had applied on the previous Sunday. I think the new process and the fact that they are doing so many loans these days slow it down. 

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Ok thanks hopefully it come through today or first thing in the a.m.

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Hi @HonestTom, thanks for sharing your insight--we appreciate you being a Capital merchant!

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I thought it to be weird that I did not get mine the next business day as I usually do! I did reach out to square and got a email back stating they need more info about my business. Don't really know what they need it's been the same since I got with square in 2014.  I told the owners at the salon where I rent a suite that I would like to pay for two months of rent because of the offer I chose but now I don't know because the money has not come yet! Please help!

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