Applying for an SBA Loan? When You Should Expect Funding.

How Long on Average Does it Take for SBA Loan Approval?

In short, SBA loans aren’t known for a fast approval process. Unfortunately, they tend to take about six months, however there are other ways to get you the financing you need in the interim.

Six Months

Yep, you read that correctly. On average, after you apply for an SBA loan, you’ll have to wait six months before you see “approved” on your SBA loan application status.

Contributing Factors

On top of that, lenders aren’t always well versed in the SBA loan process, which can extend the time it takes to get approved. And, small business owners are usually required to submit a large amount of information, which can be hard to provide.

What if I need Funding Sooner?

You thought you wanted to know how to apply for an SBA loan, but now you may be wondering about other options. Luckily, there are plenty of other ways to fund your small business needs fast.

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Jim Thomas

Jim Thomas

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