FAQ: Common Borrower Questions

FAQ: Common Borrower Questions

Here are the questions we hear most from borrowers going through the commercial lending process.

Most deals close in 30-60 days from application to funding. SBA loans and complex deals can take 60-90 days. Bridge loans can close in 7-14 days. Speed depends heavily on how fast documents are submitted.

Conventional lenders typically want 680+. SBA can go as low as 640 with strong cash flow. There are products below that threshold but with higher rates.

Most lenders want at least 2 years in business. SBA loans can work with 1 year if you have strong cash flow and experience in your industry.

Yes. Most commercial loan products allow refinancing. In fact, using a lower-rate loan to pay off higher-rate debt is one of the most common uses of commercial financing.

Credit isn't the only factor. Strong cash flow, solid collateral, and industry experience can offset credit issues. Talk to your broker — they know which lenders work with non-perfect credit.

See our What Documents Do You Need? guide for the full checklist.

You can, but disclose it upfront. Multiple applications can affect your credit. Your broker can coordinate to avoid complications.

Personal credit is checked during commercial lending. Business debt typically doesn't appear on your personal credit report unless you personally guarantee the loan (which most commercial loans require).

Market comparison matters. Ask your broker for the rate and terms being offered and why that rate is appropriate for your deal. They can shop across lenders.

Rejection is common. Get the reason (lenders should share this), fix what's fixable, and reapply. Different lenders have different appetites — a no from one lender can be a yes from another.