What is the process for applications after the application has been submitted?
The application process is organized into 5 main steps. The first step is that you submit the application on the Biz2Credit website which can be completed within minutes. After you have completed it, the completed application is submitted to the SBA, which will take no less than 48 hours to review the application. Once the client's application is accepted by the SBA, the client enters the final verification phase, which may take 10 days depending on how fast the client provides required information. This includes submitting outstanding documents and bank account details. Post final verification a loan agreement is generated, which is sent to the client for e-signature. Finally, the funds are sent to the client's account once the contract is signed. This may take a number of business days to process, depending on volume.