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How Long is the SBA Process??

The SBA loan process generally takes 60 to 90 days, depending on the lender and the size of the loan. 

Usually, the larger the loan and the longer the term you apply for, the harder a lender will scrutinize your application, which might extend the SBA loan timeline.

A Typical SBA Timeline.

  1. Borrower gathers documentation, and applies for loan (one to 30 days)
  2. Lender underwrites the loan (10 to 14 days)
  3. Lender approves the loan, and sends a commitment letter (10 to 21 days)
  4. Lender closes on the loan (seven to 14 days)

To summarize from above, you can expect the SBA process, from application to funding to be somewhere between 28 and 79 days.

It is important to note that the preparation time (step #1 from above) can vary from one borrower to another. It is absolutely critical to spend as much time as necessary to gather documents correctly, address any issues, and create as solid an application as possible during this phase. It is wiser to wait until your application is as perfect as it can be, rather than to apply and ‘hope for the best’.

Learn more about how to apply for an SBA loan.

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Our goal is to provide you with expert help and guidance for you needs. Whether you need funding or business services for your trucking company, you are in reliable hands.

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