Small Business Loan Process Explained:

Our loan process is divided into three simple steps:

1. Prequalification

To start the prequalification process, you need to consider a few questions and determine which lending program you think is best for you.

2. Proposal / Term Sheet

The Proposal/Term Sheet phase mainly consists of gathering personal and business information together (known as preliminary information) to provide to BCI Lending for an initial review. The preliminary information needed to assess your loan proposal varies depending upon the type of small business loan. To see what is needed for your loan request, look at the first sections in our loan requirement checklists. After receiving your preliminary information, BCI Lending will reply to you within 48 hours to discuss your loan request.

3. Final Qualification

You're almost there! Final Qualification consists of BCI receiving and reviewing your required remaining documents (those in the second sections in our loan requirement checklists). Following this, and upon final approval, a commitment letter will be issued and signed.