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How long does it take to process a loan?
How long does it take to process a loan?
Updated over a week ago

The loan processing time varies based on factors like loan type, lender policies, and application completeness. Here's a general overview:

  • Initial review: A few hours to a few business days for basic info assessment

  • Document verification: A few business days for document review

  • Credit check: A soft credit check performed in the application

  • Lender's timeline: Some approve within a few days, others up to a week or more

  • Offer presentation: Terms, rates, and schedules provided upon approval

  • Acceptance and funding: From a few hours to a few days after acceptance

Overall processing times differ, so discussing specifics with your funding expert is crucial. Our team at Lendio is here to assist you through this process.

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