The average is at least 2 weeks to 30 days from submittal for an answer from each bank involved. It can be very long in cases where either the loan has to be submitted to many banks and the time it takes cannot be guaranteed for these reasons. We do not give guarantees of timing of preparation, loan acceptance or length of time to submittal also for these reasons. An SBA Loan is a very complicated process and includes many factors. Some Banks are very flexible with the guidelines and some are very strict in their interpretation.
Some banks interpret the guidelines incorrectly and can turn a loan down for the wrong reasons.
This often happens. It is not unusual. We have had loans rejected and later accepted. Often it takes a lot of negotiation and changes to the business plans to get a loan approved. Other banks are more accurate in their interpretations of the guidelines and there are banks that interpret the guidelines with much more flexible understandings.