SMALL BUSINESS LOAN INQUIRY

The process of applying for a loan with Community LendingWorks is divided into 4 phases. By completing your loan inquiry online, it allows us to quickly determine if we may be able to help you get the financing you need. While the process below is a general guide, CLW customizes our review and approval processes to your situation and needs. We do not use software to get to a "yes" or "no" answer. 

PHASE 1: Applicant completes online inquiry form

  • 10-15 minutes to complete
  • Provide information about your business, capital needs & financial condition
  • Be transparent. All businesses have their challenges-- share the bad, as well as the good. 

PHASE 2: CLW reviews your completed inquiry form

  • It takes up to 5 business days to review your inquiry. We will proceed in the following ways:
    • Invite you to complete a full application (this process is not done online).
    • Ask for additional documentation (business plan, financial projections, etc). 
    • If CLW is not a good fit at this time, if possible, recommend other lending options. 

PHASE 3: Applicant fills out & submits full loan application

  • A CLW loan officer will be in contact and will help you compile a complete application.

PHASE 4: Working towards approval

  • Our underwriting team will review your application and communicate if additional information is needed.
  • Approval generally occurs within 30 days of a completed application. Ask your loan officer about a potential timeline. 
  • Closing within 5 days of approval if all closing conditions are met.