Time is money. It’s a fact that all serious business owners recognize and one of the essential concepts to understand about running a successful enterprise. Smart companies not only invest their money wisely, they pick the right projects to spend their time and energy on. Because your time is perhaps your greatest resource as a business owner, you need to understand how long vital processes are going to take if you’re going to craft a viable plan for success. Fortunately, today we’ll be answering a frequently asked, time-sensitive question: how long does it take to get an SBA loan? And we’ll also provide a few hints on how to expedite the process while we’re at it.

Benefits of an SBA Loan

To start off, it’s important to recognize that an SBA loan is the filet mignon of small business loans and one of the best ways to secure the capital your company may need to take on a big project, or expand your operation. SBA loans are beneficial to clients because they allow businesses to borrow large sums of money in a short period of time, with low interest rates, and with a longer term length than other business loans. The goal of an SBA loan is for you to succeed –– that’s why the federal government budgets hundreds of millions of dollars each year to provide banks and lenders with the ability to offer SBA loans to small businesses.

SBA Loan Timetable

The short answer to the question of how long does it take to get an SBA loan is anywhere from a few weeks to possibly months. Part of the reason for why an SBA loan might take months to acquire is that sometimes businesses don’t apply correctly, or rather, they present an incomplete financial picture when they go to apply. So if you’re considering applying for an SBA loan, take the trouble to get your books in order. Preparing for the vetting process can greatly reduce the amount of time you may have to wait for an SBA loan. Also, note that if you apply for an SBA loan with National Business Capital –– we can help you close on a deal in as little as six weeks.

Next Steps

Chances are, your small business could benefit from an SBA loan. If you’ve ever dreamed of expanding, augmenting, or improving your business in a drastic way, then it may be time to consider applying for an SBA loan. And to get started, you can contact the National Business Capital team today! We’ve worked with businesses in nearly every industry, and can help you secure the resources you need to take your company to the next level. And for more on what your company could be missing out on without adequate funding download our free eBook here:

How Long Does It Take to Get an SBA Loan?