How Long Does Business Funding Take? What Affects Timing
When a business needs working capital, timing matters. Owners often ask how quickly funding can happen, and the honest answer is that it depends on the funder and on the file. This guide walks through each step so you know what to expect and what you can do to keep things moving.
Along the way you may hear words like stips and underwriting, and our merchant cash advance glossary explains them in plain English.
The steps from application to funding
Complete the application. You share your business details through the Funding Application.
Provide your bank statements. Funders review your recent deposits to understand your revenue.
Funders review your file. They may ask follow-up questions, and the time this takes varies by funder.
You receive any offers. We explain what each offer states so you can compare them.
You read and sign the agreement. Take the time you need. A faster decision is not always a better one.
Funding is sent. Once the funder approves and the agreement is complete, the funds are released on the funder's schedule.
What affects how long it takes
The funder. Each funder has its own review process and schedule.
How complete your application is. Missing details are the most common cause of delay.
Your bank statements. Clear, current statements make the review easier.
How quickly questions are answered. A prompt reply keeps your file moving.
The agreement review. Reading the terms carefully is worth the time.
How to prepare so your file moves smoothly
Start with a completed Funding Application and your last four months of business bank statements. Month-to-date activity is only needed after the 10th of the month (from the 11th onward). A funder may still ask for something additional depending on your file. See Your Funding Application: What to Send for the short checklist.
An illustrative example
Picture a restaurant owner who needs to replace a walk-in cooler before summer. She completes the Funding Application and attaches four months of business bank statements. A funder reviews the file and asks one follow-up question about a large deposit, which she answers the same day. Offers come back, she compares them, reads the agreement and signs. Her file moved along because it was complete and she responded quickly. This is an illustration, not a promise: the actual timeline depends on the funder and the file.
Common mistakes that cause delays
Submitting the application without the recent bank statements
Sending statements that are out of date or missing pages
Leaving questions in the application unanswered
Not replying to follow-up questions from the funder
Rushing through the agreement and then needing to ask questions later
Questions to ask about timing
What happens after I submit the application, and who will contact me?
Is there anything else the funder may need from me?
When can I expect to hear back on my file?
What happens between accepting an offer and receiving the funds?
Do not skip the agreement
When timing feels tight it is tempting to rush, but the written agreement is where the total amount you will remit, how often it is collected and the other terms are spelled out. Ask questions until you are comfortable. Our overview of what a merchant cash advance is lists questions worth asking, and Your Merchant Cash Advance Application Journey explains what happens after you apply.
Frequently asked questions
How long does it take to get business funding?
It depends on the funder, how complete your application is and how quickly questions are answered. Some funders move quickly once a file is complete and others take longer. No timeline can be guaranteed. Once a funder approves, funding typically happens within 24 to 48 hours.
What slows an application down?
The most common causes are an incomplete application, missing bank statements and unanswered questions from the funder. Having everything ready at the start helps.
Not sure what funders look for in your statements? Read what funders look for in business bank statements.
What should I have ready?
A completed Funding Application and your last four months of business bank statements. Month-to-date activity is only needed after the 10th of the month.
Can I get an answer the same day I apply?
That is not something we can promise. Timing depends on the funder and the file, and an application does not ensure an offer.
When can I reach someone with questions?
You can call (718) 619-9867 Monday through Saturday, 8am to 8pm, or email johnm@forwardfundinggroup.com.
Ready to start? Complete the Funding Application, or call (718) 619-9867, Monday through Saturday, 8am to 8pm.
Funders make the decisions and provide the written agreements. Availability, amounts and timing depend on the funder and your business information, and submitting an application does not ensure an offer.