Alongside our bank partner, Northeast Bank, we have designed a streamlined process to process your application as quickly and efficiently as possible, while ensuring we capture all SBA 7(a) Program requirements. An overall outline of the process is as follows:
- Phase 1: Relationship Manager – Your assigned Relationship Manager will review your application for thoroughness and completeness. They may request additional information and/or documentation through email. This step can range between 1-2 business days depending on if all required documentation and information is received.
- Phase 2: Underwriter – Your application is currently under review with an Underwriter. They may request additional information and/or documentation through your assigned Relationship Manager. This step can range between 1-2 business days.
- Phase 3: Credit Manager – Your application is currently under review with the Credit Manager. This step can range between 1-3 business days.
- Phase 4: Closing & Processing – Your application has been assigned to a Closer for loan document creation and execution. This step can range between 2-4 business days.
Once approved, our Closing Team will send your loan documents for signature. Please look out for an email from DocuSign, which will contain your complete package of loan documents. Please feel free to reach out to your Relationship Manager any time with questions regarding the loan documents.
- Phase 5: Funding – Following your completion of the e-signature of the loan documents, your application will be submitted for funding! The deposit will reach your designated account within 3-5 business days.