1. Bank or financial institution review: financial partners (banks or financial institutions) of Vipshop will need to review the loan application to ensure that the applicant has good credit and meets the loan conditions.

2. Loan amount: The higher the loan amount, the longer it may take for banks or financial institutions to review and handle it.

3. Number of applicants: During the shopping festival or other promotional activities, Vipshop Finance may receive a large number of loan applications.