How Long Does It Take to Qualify for a Business Line of Credit?
You're ready to expand, cover cash flow gaps, or seize new opportunities—but how fast can you actually get a business line of credit? The answer: it depends. Some lenders move at lightning speed, while others take their sweet time sorting through paperwork.
What Affects the Timeline?
Every lender has its own checklist, but a few key factors determine how long it takes to qualify:
- Your Credit Score: A strong personal or business credit score (typically 680+) can speed up approval.
- Business Revenue: If you have consistent revenue, lenders trust you more—and move faster.
- Required Documentation: The more organized you are, the fewer delays you'll face.
- The Lender Type: Banks take their time, while online lenders often approve in 24-48 hours.
Typical Approval Timelines
| Lender Type | Approval Time | Funding Time |
|---|---|---|
| Traditional Banks | 7-30 days | Up to 45 days |
| Credit Unions | 5-14 days | Up to 30 days |
| Online Lenders | 24-72 hours | 1-7 days |
| Alternative Lenders | 1-5 days | 1-10 days |
Want to Speed Things Up?
If waiting around isn’t an option, here’s how to cut down approval time:
1. Get Your Documents Ready: Tax returns, bank statements, and a solid business plan can prevent back-and-forth delays.
2. Check Your Credit First: A quick credit check can save you from wasting time on applications you won’t qualify for.
3. Choose the Right Lender: If you need cash fast, online lenders are your best bet.
How We Make It Easier
Unlike lenders who stick you with endless paperwork, we underwrite your deal and help you raise collateral, making approval smoother—even if your credit isn’t perfect.
Final Thoughts
Some businesses qualify in a day, others wait weeks. The key? Knowing where you stand and working with the right lender. Ready to get started? Let’s get you funded.
