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.