Title Image

How long does it take to get an SBA loan?

How long does it take to get an SBA loan?

Starting a small business can be challenging, and getting the right amount of funding to get your business off the ground can seem downright impossible. Luckily, the Small Business Administration (SBA), operated by the federal government, can help entrepreneurs get their businesses up and running.

One of the biggest benefits of the SBA is by helping entrepreneurs secure loans when other banks have turned the entrepreneur down. The SBA doesn’t lend its own money, rather, it partners with lenders and guarantees loans to small businesses. This means that lenders are taking less of a risk by giving an SBA-backed loan.

Since every business is different, the amount of time it takes to get an SBA loan depends on many variables. The process is very paperwork intensive and can take some time. Business owners will need to draft a detailed business plan, provide financial statements, submit credit checks, required business licenses, and resumes of all partners. It’s best to be very thorough when putting your paperwork together because any errors or missing information will only add to the time it takes for your loan to get approved.

Once all your paperwork is submitted, you’re at the mercy of the lender’s timeline. The standard period for an SBA loan is between 60 and 90 days, though larger loans might take longer. You can help speed up the approval process by carefully following the SBA’s application guidelines and using their business plan templates. Give the lender any further information they request.

Another benefit of getting a loan through the Small Business Administration is that they have counselors who can help guide you through the process of securing an SBA loan. They also have free resources like online training and guides on creating business plans that can help you get your paperwork ready for your loan application.

Coming Soon!

The New Private Eyes Platform.

Background Checks | LegacyLender Solutions | Login

For any questions contact us at (925) 927-3333.

Site Security Notification

 

Use the buttons below to continue your login.

For SITE SECURITY purposes and to ensure that this service remains available to all users, this computer system employs software programs to monitor network traffic to identify unauthorized attempts to upload or change information, or otherwise cause damage. Unauthorized attempts to upload information or change information on this service are strictly prohibited and may be punishable under the Computer Fraud and Abuse Act of 1986 and the National Information Infrastructure Protection Act.

NOTICE: We will not obtain personally-identifying information about you when you visit our site unless you choose to provide such information to us.

Point of Contact for Security and Monitoring: Frank Santa Elena email: security@pebackgroundchecks.com Information Systems Security Officer (ISSO) for www.privateeyesbackgroundchecks.com phone (925) 927-3333.

For any questions contact us at (925) 927-3333.

Find the Right Lender Solution

Fill out the information below and we will contact you or call us at 925-927-3333



First Name*
Last Name*
Email*
Phone*
Company*
Street
City
State
Zip Code
Number of Employees
Where did you hear about Private Eyes?

Find the Right Background Screening Solution

Fill out the information below and we will contact you or call us at 925-927-3333.



First Name*
Last Name*
Email*
Phone*
Company*
Street
City
State
Zip Code
Number of Employees
Where did you hear about Private Eyes?

Candidate Assistance

If Private Eyes is running your background check, please contact our Customer Service department. A person on our team will be more than happy to assist you

Email: CSS@pebackgroundchecks.com
Call: (925) 927-3333

Private Eyes Customer Assistance

If you are a current customer, please contact our Customer Service department. A person on our team will be more than happy to assist you.

Email: CSS@pebackgroundchecks.com
Call: (925) 927-3333