The length of your application process is often very uncertain. If you need cash quickly, you might want to consider applying for a loan from an alternative lender online. Many online lenders offer instant decisions that let you know whether you've been approved for a loan or not immediately. Banks will take at least 2 weeks to let you know about your application status, and sometimes you’ll have to wait a bit longer. If you apply for a government-backed loan, be prepared to wait for a while. It can take up to several months to find out whether you’ve been approved for a government-backed loan.