What happens after I apply?

Once you have provided all of the information required to obtain a credit decision, our underwriting group will render a decision. If approved, you will receive an assortment of SBA documents called the Initial Eligibility Package. The information contained on most of these documents should not be new information. Rather, they will contain information that you have already provided to us; you simply need to sign it and confirm its accuracy for SBA. Included with that package will be a proposal letter outlining all the terms and conditions of the loan approval, and listing all of the documents that you will need to provide before we can close the loan.

 

Also included with this package are the instructions and requirements for receiving your disbursement once the loan is closed. The forms in the Initial Eligibility Package will need to be signed and returned to the bank, but we suggest that you keep a copy of the proposal letter and disbursement instructions so you know what will still be needed. Once all of the items in the proposal letter are provided, we'll schedule your loan closing.