How fast do different financing partners fund once a customer is approved?

Funding times vary. Traditional banks may take weeks to process a loan due to underwriting and documentation. SBA Express loans speed up the process but still require paperwork and SBA approval. Online lenders can approve and fund a credit line in a few days.

Invoice factoring can deliver cash within 24 hours because the advance is secured by the invoice itself. Customer-financing partners often pay the contractor once the system is installed and documents are signed; some pay upon loan approval.

When choosing a partner, ask about average funding time, document requirements and whether payments are wired or mailed. Faster isn’t always better if the cost is sky-high, but you shouldn’t wait a month to get paid for a job that’s already done.