May 3, 2021

Great Lakes Business Credit Streamlines Loan Closings

One of the most frequently asked questions posed by potential borrowers is: “How quickly can my loan be closed?” Fortunately, at Great Lakes Business Credit, it doesn’t have to be a drawn-out process.

“For many business clients, alternative financing can be a stressful and time-sensitive issue, and our aim is to streamline loan approvals,” says CEO Rhett B. Rowe. “This is especially critical in cases where the loan applicant has stretched payments to vendors or is restructuring their business in addition to payroll needs.”

The good news is that Great Lakes Business Credit can close and fund a loan within 30 days of the loan proposal’s acceptance, and within 30-45 days from application to closing, according to Rowe.

“This is because Great Lakes does not rely on third-party sources for loan processing. Instead, we have our own dedicated team of on-staff experts to handle review, vetting, and valuation,” says Rowe.

This process includes an in-house team of field examiners tasked with establishing a mutually beneficial business relationship with the client and to provide timely, on-site analysis of the assigned collateral tied to the loan application. Here, honest, helpful, and timely communication moves the application process at a steady pace.

Once the loan is closed, terms established, and payment is made, borrowers have the option of paying off their loan without penalty and there is are no early termination fees.

Learn all about the application process, loan parameters, and more by visiting