How Long Does it Take to Get a Small Business Loan?

Small Business Loans - 1 Min Read

Picture a potential customer calling you up and inquiring about your products or services.

Now, imagine that instead of answering the call or phoning back within a few hours or the next business day, you instead created a voicemail message that said: “Hi, thanks for your call. Please fill out a multi-page application and I’ll let you know within 60-90 days if I am available to take your call.

Conventional Bank Loans: Months in the Making

As absurd as this scenario is, this is similar to the process to get a conventional bank loan. It often takes months just for banks to decide if they’ll approve a small business loan application. Indeed, many small business owners are shocked to discover that “no news” on their application status months after they submitted it was definitely not “good news.” It’s not unusual for more than a dozen bank officials and employees to review a single small business loan application. For many SBA-facilitated loans, the number can be even higher norm.

Mulligan Funding: Operating at the Speed of Small Business

At Mulligan Funding, we come from a small business background ourselves, and personally know that waiting months for a business loan to possibly materialize isn’t just unreasonable: it’s flat out unacceptable!

That’s why we promise to review each working capital loan application or merchant cash advance application within 24 business hours of receipt. What’s more, after we approve your application, we’ll have the funds in your account the next business day. This way, you can use the funds when you need them most – i.e. NOW – to take advantage of a golden opportunity, cover emergency or unexpected expenses, and help keep your small business on track and heading in the right direction.

Call Mulligan Funding at 855-326-3564 to discuss your financing options today!

The information shared is intended to be used for informational purposes only and you should independently research and verify.

Note: Prior to January 23, 2020, Mulligan Funding operated solely as a direct lender, originating all of its own loans and Merchant Cash Advance contracts. From that date onwards, the majority of funding offered by Mulligan Funding will be by Loans originated by FinWise Bank, a Utah-chartered Bank, pursuant to a Loan Program conducted jointly by Mulligan Funding and FinWise Bank.