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You’ll typically have our decision in about a week. The time between starting your application and receiving our decision on that application can vary based on a number of factors. These can include, for example, the type of financing you're seeking, whether or not we require additional information and the time it takes for you to provide us with that information.
You’ll need some basic business and personal information to submit an application. See what you'll need to apply.
Our team will work closely with you to make sure your financing is in hand as soon as possible. Factors such as type of loan, type of collateral and the speed of documentation back and forth can affect the overall timeline.
Bank of America business financing requires that your business be under current ownership for at least 2 years. If you have not been in business for 2 years, learn more about SBA Loans.
If I change my mind about my financing (for example, wanting to finance a different type of equipment) before I complete my application, do I have to start the application process again from the beginning?
While each specific situation is different, in most cases we can make those adjustments to your application as needed with very minimal impact to your application timeline.