Frequently Asked Questions

36. How long will it take to get a loan?

The time it takes to get a loan varies with each situation and is determined by the amount and complexity of the loan request as well as the type of business loan you're pursuing. It is best to allow plenty of time. The best thing you can do to reduce the time it takes to get an answer on your loan application is to provide a thorough business plan or loan proposal. When you provide all of the information a lender needs to make a decision, you can help the process go more smoothly.

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Start Your Own Business | Obtaining Small Business Financing

The Arkansas Small Business Development Center is funded in part through a cooperative agreement with the U.S. Small Business Administration through a partnership with the University of Arkansas at Little Rock College of Business and other institutions of higher education. All opinions, conclusions or recommendations expressed are those of the author(s) and do not necessarily reflect the views of the SBA. It is the goal of UALR to eliminate discriminatory harassment and to promote equal opportunity regardless of race, gender, color, national origin, sexual orientation, age, religion, veteran’s status, or disability.