Then you know that the process is not a quick one if you’ve read this post. It is possible to rely on the method, through the time you distribute the OIC, to your time whenever your OIC is (ideally) authorized, to just just take 4 to 8 months. If you receive a determination from both the lender and SBA in 4 months, that will require every thing to get appropriate, with no hiccup. And also to be truthful, roadblocks more often than not appear at some time. Such as for instance a true do it yourself task, it nearly ALWAYS take longer than you’d wish or anticipate. Between email messages, demands to get more documents, collecting that paperwork, bank committees, time adds up.
Therefore while there are specific things we can’t get a grip on, you will find a things that are few may do to ensure the method goes as fast as possible:
- Tuned in to any or all included. That features me personally, the financial institution, while the SBA. I am aware the urge to react to a contact the next day, or return a turn to Monday, however, if you exchange 10 emails aided by the bank by having a 2 time lag every time, that can add up to one more 3 months of the time. (more…)