What does the SBA loan process look like with FNB Small Business Finance?

When you partner with our team at FNB Small Business Finance, we want the process to be as transparent as possible to ensure everything goes smoothly. Our team has decades of experience and is dedicated to helping small business owners achieve success. Here is what you can expect the SBA process to look like with our team.

Initial Call

When you need long-term financing, the first thing you will want to do is contact one of our experienced team members to talk about your business needs. Our biggest piece of advice is to reach out as early as you can in the process. That will not only help your loan process, but we can help you get ahead on certain needs and also act as a resource for you in all areas of the process. 

Information Phase

Following the discovery call, the Business Development Officer you are partnering with will request information about you, your business, and your project to help structure a loan package for you. Every loan request is different and we structure loans that are unique to the business. Everything you provide, including your business plan, is very helpful.

Proposal Letter

Assuming everything is in order, you will receive a Proposal Letter explaining the structure of your proposed loan, the amount of the loan, the interest rate, and the number of years of the loan. The Proposal Letter will also spell out any additional documents or information we will need for formal loan approval. Your acceptance of the Proposal starts your loan application process.

Application Process

At this stage in the process, you are ready to complete the FNB Small Business Finance SBA Loan Application, in addition to the federal forms we will need to submit your loan to credit. Our team will be available to offer support if you have questions or need help filling out the application. Once we have a complete loan package your application can move to Formal Credit Underwriting.

Formal Underwriting and Credit Decision

At this point in the process, our Small Business Finance team goes to work to complete the underwriting processes. The Credit Underwriter assigned to your loan will reach out to you to introduce themselves and ask any questions they might have on your project. Our goal is to have a formal credit decision within 10 business days. You will be notified by your Business Development Officer as soon as a credit decision has been finalized. If the loan is approved, you will receive a Commitment Letter that will give you all the detail and requirements for the loan. Your acceptance of the Loan Commitment will move your loan into our Loan Closing Department.

Loan Closing

At FNB Small Business Finance, every loan is assigned a loan closer to help coordinate closing with you and your attorney. A timely loan closing is as important to us as it is to you. To help with this process, the loan closer will provide you with a checklist that includes any outstanding documents or items that need to be addressed before closing can take place. A conference call will be scheduled to include you, your attorney, and the bank’s attorney to review this checklist and answer any questions about the closing process. You will receive an updated checklist weekly to help you monitor the progress of your loan closing. Once everything on the Closing Checklist has been received, reviewed, and approved your loan should close within five business days. Your loan closing will normally occur at your attorney’s office.

If your loan request involves construction of any kind, a Construction Specialist from our experienced Construction Team will be assigned to work with you and your contractor. A complete checklist of all construction-related items will be provided and a call with you and your contractor will take place to review the Construction Checklist and answer any questions. Your loan involving construction cannot close until you have received all related approvals and permits from your local jurisdiction. You will receive an updated Construction Checklist weekly to help you monitor the progress towards your loan closing.


Once the loan is closed, it’s time to receive your funding. This can happen in a variety of ways depending on the terms of your loan, in most cases funds will be sent to your attorney for final disbursement. Your BDO and closer will explain exactly how the funding will be distributed. We look forward to the opportunity to help you achieve your business goals. We want to be a strategic partner in your business’ success and look forward to helping you navigate the SBA lending process! 

Ready to get started? Reach out to one of our experienced SBA Business Development Officers.