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Gaining approval for a small business loan is great, but the work does not stop there. The SBA loan closing process is the final step in getting your loan fully funded. One strategy for ensuring the process is as smooth and efficient as possible is to work with experts like us!
At Business Funding Group (BFG), we specialize in helping small business owners secure funding to grow their businesses. We have decades of experience supporting clients through each stage of the process, from the initial application through closing. We stay with you to the end so that you never have to be confused about what comes next or how to proceed.
Securing an SBA loan involves finalizing all necessary documentation and meeting the requirements set by the SBA. It is important to make sure everything is completed without error to avoid unnecessary delays or jeopardizing the loan.
The closing process typically includes:
Without the help of experts, business owners seeking funding can struggle with the process. Loan packagers at BFG could help you stay on track, taking care of the paperwork on your behalf.
Closing an SBA loan includes providing several documents. The exact documents required at closing vary based on several factors, including:
Common documents that business owners may need to submit include:
Knowing the required documentation and gathering it ahead of time can make closing proceed more efficiently.
Efficiency is the key to making the closing process for your SBA finance run smoothly and without delay. Preparation and communication help you stay on track for receiving your funding.
Borrowers can be prepared by responding to communication promptly, organizing documentation, having accurate and updated licenses and insurance coverage, and ensuring closing documents are prepared.
BFG could help you coordinate with lenders to keep the process moving and eliminate wait times. We facilitate this by consistently following up with lenders, checking in with your loan officer, promptly responding to lender requests, explaining requests and other communication, and complying with SBA closing requirements.
When you are at the closing stage, you might feel like the deal is done, and you can sit back and relax—but this is not the case! As you approach closing, it is critical to be prepared and satisfy all requirements to ensure no problems arise.
The SBA loan closing process may appear intimidating, but it could be stress-free with the help of our loan packaging professionals. Working with BFG comes with no risks, as we do not charge any fee if you do not close on a loan.
If you are looking to expand your business, contact us today to discuss your eligibility for SBA financing and to get your application started. We are looking forward to helping you achieve your business goals.
(917) 593-5013