How to Follow Up on Your Application Status

Once you’ve submitted your funding application with FundLocal, it’s important to stay informed about your application’s progress. Whether you’re eager to know if you’ve been approved or want to check if any additional information is required, there are several ways to follow up on your application status.

This guide outlines the steps for checking the status of your application, common reasons for delays, and how to ensure your application is processed as smoothly as possible.

FundLocal provides multiple ways for you to check the status of your application. Here are the most effective ways to stay updated:

1. Log Into Your FundLocal Account

The quickest and easiest way to check your application status is by logging into your FundLocal online account.

Steps to Check Your Application Status:

1. Visit the FundLocal website.

2. Click on the “Login” button located in the top-right corner of the homepage.

3. Enter your username and password to access your account.

4. Navigate to the dashboard, where you’ll see the current status of your application, including whether it’s under review, approved, or pending further action.

• Best For: Checking real-time updates on your application’s progress without needing to contact support.

2. Email Notifications

FundLocal will send you email notifications to keep you updated on key stages of your application process. Be sure to monitor your email regularly for updates regarding your application’s status, approval decision, or requests for additional information.

• Tip: If you don’t see any email notifications, check your spam or junk folder to ensure messages from FundLocal aren’t being filtered out.

3. Contact FundLocal Support

If you don’t see any status updates in your online account or want more specific details about your application, you can reach out to FundLocal’s support team. They can provide you with the current status and explain if any further action is needed on your part.

Ways to Contact Support:

• Phone: Call FundLocal at [Insert Phone Number] for real-time support.

• Email: Send an email inquiry to [Insert Email Address]. Be sure to include your application number for faster service.

• Live Chat (if available): Use the live chat feature on the FundLocal website to quickly connect with a support representative during business hours.

• Best For: When you need detailed information or clarification on what’s required to move your application forward.

4. Use the Online Contact Form

If you prefer, you can use the online contact form on the FundLocal website to inquire about your application status. Fill out the form with your name, contact information, and application details, and a member of the support team will respond to your request.

• Best For: Non-urgent inquiries where you don’t need an immediate response.

As your application moves through the review process, you may see different statuses in your account. Here’s a breakdown of what each status means:

1. Submitted

Your application has been successfully submitted and is awaiting review. FundLocal’s team is now reviewing your application details and required documents.

• Action: No action needed at this stage unless you receive a notification requesting more information.

2. Under Review

Your application is being reviewed by FundLocal’s underwriting team. They are verifying the information you’ve provided and assessing your business’s financial health.

• Action: Monitor your email and account dashboard for any requests for additional documents or information.

3. Pending

If your application status is listed as Pending, this may indicate that FundLocal needs more information or additional documents to continue processing your application.

• Action: Check your email or log into your account to see if there are any notifications regarding missing or incomplete documents. Submit any additional information as soon as possible to prevent delays.

4. Approved

Congratulations! Your application has been approved. You will now receive a loan offer outlining the terms, interest rates, fees, and repayment schedule. You can review the offer and choose to accept or decline it.

• Action: Review the loan offer carefully and accept the terms if you’re ready to move forward. If needed, contact FundLocal’s support team to clarify any details.

5. Declined

If your application is declined, FundLocal will provide an explanation of why the application didn’t meet the eligibility requirements. This could be due to factors such as time in business, revenue, or missing documentation.

• Action: Contact support for specific details on why your application was declined and any steps you can take to improve your chances of approval in the future.

If you notice that your application has been in pending or under review status for longer than expected, there are a few common reasons why this might happen:

1. Missing or Incomplete Documents

If you didn’t submit all of the required documents, or if any documents are unclear or incomplete, your application may be delayed until the missing information is provided.

• Solution: Double-check that you’ve uploaded all the necessary documents, such as bank statements, revenue reports, or tax returns. Make sure the documents are clear, legible, and in an accepted format (e.g., PDF, JPEG, PNG).

2. Additional Verification Needed

In some cases, FundLocal may need to verify certain details about your business, such as annual revenue or cash flow, which can extend the review period.

• Solution: Monitor your email for any requests for additional documentation or clarification. Respond promptly to ensure the process moves forward without further delays.

3. High Application Volume

During periods of high demand, FundLocal may receive a large number of applications, which can extend the time it takes to review and approve each one.

• Solution: Be patient and check your application status regularly. If it’s been several days without an update, you can reach out to support for a status check.

Here are some tips to help you avoid delays and keep your application moving through the review process smoothly:

1. Provide All Required Documents Upfront

Ensure you’ve submitted all the necessary documents when you apply. This typically includes 3-4 months of business bank statements, revenue reports, and any other requested financial documentation.

2. Double-Check Your Information

Before submitting your application, review all the fields for accuracy, including your business name, address, revenue information, and financial details. Correcting errors early on can save time during the review process.

3. Respond Promptly to Requests for Additional Information

If FundLocal contacts you for more information or clarification, respond as quickly as possible. The faster you provide the needed details, the sooner your application can be processed.

1. How long does it take to get an approval decision?

• FundLocal typically reviews applications within a few hours to 1-2 business days, depending on the complexity of the application and the completeness of the documents provided.

2. What should I do if my application is stuck in pending status?

• Check your account dashboard or email for any notifications requesting additional information. If no action is required, contact FundLocal support to inquire about the status.

3. Can I speed up the approval process?

• To avoid delays, ensure you submit all required documents upfront and respond promptly to any requests for additional information from FundLocal.

4. Will I receive notifications about my application status?

• Yes, FundLocal will send email notifications to keep you updated on your application’s progress. You can also check your status by logging into your account.

If you have questions about your application status or need assistance with the application process, FundLocal’s support team is here to help. Contact us today for personalized assistance and updates on your application!