Application Process

The initial application takes approximately 5-10 minutes to complete. You'll provide basic information about yourself and your business.

What You'll Need

• Business name and contact information
• Estimated monthly revenue
• Time in business
• Desired funding amount
• Social Security Number (for credit check)

You can save your progress and return later if needed. Your information is securely stored.

No, applying through Loanable is completely free. There are no upfront fees, application fees, or hidden charges.

You're under no obligation to accept any offer you receive. You can compare multiple options and only proceed if you find the right fit for your business.

Our initial review uses a soft credit pull that does NOT impact your credit score.

Our initial pre-qualification uses only a soft credit pull, which does NOT affect your credit score. You can safely explore your options.

When Does a Hard Pull Occur?

A hard credit inquiry only happens if:

• You accept an offer from one of our lending partners
• You proceed with the lender's formal application process
• You provide explicit consent for the hard inquiry

This gives you the freedom to see what you qualify for without worrying about impacting your credit.

Yes! Your application progress is automatically saved. If you need to step away, simply close the page and return later.

To continue your application:

• Return to our website and click "Continue Application"
• Or check your email for a link to resume
• Log into your account if you created one

Your information is securely stored and encrypted.

Don't worry—mistakes happen! Here's how to correct them:

Before Submitting

Use the "Back" button to return to previous sections and make corrections.

After Submitting

• Contact our support team immediately
• Email support@loanableusa.com with the correction
• Or call (725) 302-3501 during business hours

Minor errors rarely affect your application, but it's best to correct them as soon as possible.

For the initial pre-qualification, you typically don't need any documents—just basic business information.

If You Move Forward with a Lender

They may request some or all of the following:

• Business bank statements (last 3-6 months)
• Government-issued ID (driver's license or passport)
• Proof of business ownership (articles of incorporation, business license)
• Tax returns (business and/or personal, last 1-2 years)
• Voided check or bank letter for direct deposit

Requirements vary by lender and loan type. SBA loans typically require more documentation than short-term financing.

Bank statements should be:

• PDF format (preferred) or high-quality images
• Complete statements showing all pages
• Official bank documents downloaded from your online banking
• Clearly legible with all information visible

Important

Screenshots or partial statements may not be accepted. Make sure to download the official PDF from your bank's website or mobile app.

If you don't have physical checks, you can provide alternatives:

• Bank letter on official letterhead confirming your account and routing numbers
• Direct deposit form from your bank
• Account verification document from your online banking
• Bank statement showing your account and routing numbers

Contact your bank if you need help obtaining these documents—most banks can provide them quickly.

Here's what to expect after submitting:

1. Instant Review: Our system analyzes your application against our network of 50+ lenders
2. Funding Expert Contact: A dedicated funding expert will reach out within 24 hours
3. Options Presented: You'll receive offers from lenders who match your profile
4. Compare & Choose: Review your options with your funding expert
5. Proceed with Lender: If you choose to move forward, complete the lender's process

You can track your application status anytime through your dashboard.

Decision timelines vary by financing type:

• Merchant Cash Advances: Often same-day pre-approval
• Short-term Loans: Usually within 24 hours
• Lines of Credit: 1-3 business days
• Equipment Financing: 1-3 business days
• SBA Loans: 2-4 weeks (longer due to SBA requirements)

Providing complete, accurate information speeds up the process.

You can check your status in several ways:

• Dashboard: Log into your Loanable account to view real-time updates
• Email: We send status updates to your registered email
• Funding Expert: Contact your assigned funding expert directly
• Support: Call (725) 302-3501 or email support@loanableusa.com