The common consensus is that SBA loans are a slow, bureaucratic nightmare. For many business owners, a 90 to 120-day wait is expected. However, we recently proved that with the right preparation, the process can move at the speed of business.
We successfully funded a $350,000 SBA loan for a construction contractor in Saylorville, Iowa, in just 35 days.
The Challenges of Construction Financing
The construction industry is often labeled as high-risk by traditional lenders. Between fluctuating cash flows and complex bonding requirements, underwriters typically move with extreme caution. This often leads to “The Information Gap”—the weeks spent going back and forth over missing documents or clarifying financial statements.
How We Beat the 90-Day Timeline
The 35-day turnaround was not a matter of luck. It was the result of a deliberate strategy built on three pillars:
- Clean Deal Structure: We did not just submit an application; we matched the borrower’s specific financial profile with a lender whose appetite aligned with the construction sector.
- Proper SBA Packaging: Most delays happen when a file is incomplete. We submitted a “Decision-Ready” package. This means every tax schedule, P&L statement, and legal document was vetted and organized before it hit the underwriter’s desk.
- Realistic Expectations: By setting clear milestones for both the borrower and the lender, we eliminated surprises that typically derail a deal in the eleventh hour.
National Reach with Local Expertise
While our firm is based in San Diego, we provide SBA funding for small businesses nationwide. Whether you are a contractor in Iowa or a retail owner in California, the roadmap to fast funding remains the same: preparation beats persistence.
If you are tired of the “banker’s maybe” and need a streamlined path to capital, stop submitting applications and start submitting packages.
Stay Informed With The Monthly Digest.
Unlock new funding and business grant opportunities to accelerate the growth of your business.