How Fast Can I Get Funded?

At FundLocal, we understand that small businesses often need fast access to capital to manage urgent needs, cover operational expenses, or seize growth opportunities. That’s why our funding process is designed to be quick and efficient, allowing you to receive funds within a short timeframe after your application is approved.

This guide will walk you through the timeline for getting funded with FundLocal, including what to expect during each step of the process and factors that can influence how quickly you receive your funds.

In most cases, businesses that apply with FundLocal can receive funding within one business day of approval. Here’s a breakdown of the typical funding timeline from start to finish:

1. Submit Your Application (Minutes)

The first step is to submit your application online. FundLocal’s application process is streamlined and designed to be completed in just a few minutes. You’ll need to provide basic business information such as your:

• Business name and legal structure (LLC, Corporation, etc.)

• Time in business

• Annual revenue

• Business bank account details

• Recent business bank statements (3–4 months)

• Timeframe: Completing the application typically takes 10–15 minutes.

2. Review and Approval (Same Day)

Once you’ve submitted your application, FundLocal will review the information provided to assess your eligibility. This process is fast, as we use advanced technology and experienced underwriters to evaluate your business’s financial health. In most cases, there is no hard credit check, and your quote will not impact your credit score.

• Timeframe: FundLocal can often approve applications within a few hours to the same business day.

3. Receive Your Quote (Same Day)

After your application has been reviewed, you will receive a no-obligation quote outlining the loan amount or credit limit you qualify for, along with the interest rates, fees, and repayment terms. You can review the offer and decide whether to accept or decline.

• Timeframe: You will receive your quote on the same day as your application, typically within a few hours of submission.

4. Accept the Offer and Submit Additional Documentation (Same Day)

If you accept the funding offer, you’ll need to provide any remaining documentation (such as additional financial statements, if required) and sign the loan agreement. FundLocal works to make this process as simple as possible, often allowing you to complete the required paperwork online.

• Timeframe: You can submit the necessary documents and sign the agreement within the same day.

5. Verbal Verification Call (Same Day or Next Business Day)

After the loan agreement is signed, you’ll need to complete a verbal verification call with a FundLocal representative. This short call ensures that all loan details are understood and confirms your identity. This is a quick process, often taking just 5–10 minutes.

• Timeframe: The verbal verification call is typically completed on the same day as the loan acceptance or by the next business day.

6. Funds Transferred to Your Account (Same Day or Next Business Day)

Once the verbal verification call is complete, FundLocal will disburse the funds directly to your business checking account. In most cases, the transfer is processed within the same day or the next business day, depending on your bank’s processing times.

• Timeframe: Most businesses receive their funds within one business day of completing the loan agreement and verification call.

While FundLocal strives to provide fast funding, there are a few factors that can influence the exact timing of when you receive your funds:

1. Time of Application Submission

The time of day you submit your application can affect how quickly you’re funded. Applications submitted earlier in the day are more likely to be reviewed and approved on the same day, while applications submitted later in the day may be processed the next business day.

• Tip: Submit your application as early in the day as possible to speed up the approval process.

2. Completeness of Application

Providing all the necessary documentation upfront can help expedite the approval and funding process. Make sure to submit complete and accurate financial documents, such as recent business bank statements, when filling out your application.

• Tip: Double-check your application and documents before submitting to avoid delays due to missing or incomplete information.

3. Bank Processing Times

Once FundLocal transfers the funds, your bank’s processing times can impact when the money becomes available in your account. While most banks process transfers quickly, others may take up to the next business day to complete the transaction.

• Tip: Contact your bank to confirm their processing times if you’re unsure how quickly funds will be available.

4. State-Specific Requirements

Certain states, such as California, New York, and Utah, may require additional documentation (such as an extra month of bank statements) or have different regulations that could slightly extend the funding timeline.

• Tip: If your business is located in one of these states, be prepared to submit additional documents to ensure a smooth approval process.

To ensure the fastest funding possible, here are a few steps you can take:

1. Complete the Application Accurately

Provide all the required information and ensure your business details and financial documents are accurate and up to date. This helps prevent delays during the review process.

• Tip: Gather all necessary documents, such as business bank statements, before starting the application to avoid any holdups.

2. Respond Quickly to Requests

If FundLocal requests additional documentation or information, respond as quickly as possible to keep the process moving forward.

• Tip: Set up email or phone notifications so that you don’t miss any requests from the FundLocal team.

3. Have Your Business Checking Account Ready

Make sure your business checking account details are correct and active, as this is where your funds will be deposited. Double-check that there are no issues with your account that could delay the transfer.

• Tip: If you’re unsure about your bank’s processing times, check with your bank in advance to ensure smooth fund transfer.

1. How quickly can I receive a funding decision?

• FundLocal typically provides a funding decision within a few hours of receiving your application. In many cases, applications submitted early in the day are reviewed and approved on the same business day.

2. How long does it take to receive the funds?

• Once your application is approved and the loan agreement is signed, you can expect to receive the funds within one business day. Fund transfers are usually processed the same day or the next business day.

3. Can I receive funds faster if I apply early in the day?

• Yes. Applying earlier in the day increases the chances of same-day approval and funding. Applications submitted late in the day may be processed on the next business day.

4. What happens if I don’t submit all the required documents?

• Missing or incomplete documentation can delay the funding process. To avoid delays, ensure that you submit all the required documents, such as recent business bank statements, upfront.

5. Will a hard credit check delay the process?

• No. FundLocal uses a soft credit check for initial funding quotes, which does not impact your credit score and allows for faster approval.

If you need fast access to capital for your business, FundLocal is here to help. Our streamlined application and approval process allows most businesses to receive funds within one business day. Start your application today and get the funding you need to grow your business!