In short, it generally takes 10-30 days total. It depends on how much you’re looking for or if there is any additional information required. Most of the banks that we work with do not require very much information with the exception of the application that you fill out with us.
In the event that they need a proof of identification, that might delay one day or so. Generally speaking you would get the approvals and have access to the funds within just a few days of application with us. Since your funding will be coming from multiple different accounts (usually 3-5) that will each have their own approval, welcome letter, and credit card, the full round is usually completed in about two weeks. Beyond that, you can liquidate the funds into a bank account (to convert them to cash). Conservatively, you want to give us at least 30 days advanced notice.
If you have a deal that is hot and ready to go right now, it’s not going to work out. You’ll want to get access to your funds before you have a hot deal so that you can convert it to cash in advance and use it whenever you do come across a deal. This may also be done in conjunction with other funds you have access to; existing cash, hard money, private investors or partners.
Business Lines of Credit are a supplement, or a complement, to any other funding methods and the turn around time is relatively fast, but we simply recommend you take care of it up front so you have the cash when you need it.