Unsecured and secured business loans, venture capital and business financing
How long does it take to get a business loan?
businessloans | 17 May, 2009 12:34
Answer: The time
varies based on the amount of the request, the financial strength of the
business verified by the lender through Dun and Bradstreet and other major
business credit reporting agencies,
length of time in business, credit scores and history of the principal(‘s)
and nature of the business. For a free
analysis of these factors for your situation and prompt answers please call our
office. Approvals can be arranged
starting in as little as several days to
approximately one week once all of the above is completed and verified and meets lender
requirements. Do not be mislead by some
brokers who guarantee that funding can be done in 24 hours from your initial contact with them – these
are merely “dignified telemarketers” who just take your application without
regard to your individual qualifications and send it to a lender. The result is often numerous credit
inquiries, lowered FICO scores, denial of credit by numerous lenders, and the
principal becomes “blackballed” from financing in the future. If it were really this simple everyone would
get loans!
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