BizSugar.com › Raising Capital › Loan Process Continues to be Time Consuming For Businesses, Despite Access to Credit

Despite reports that small business loans are becoming easier to obtain, the majority of small business owners surveyed in a recent study by LoanSage spent nearly 37 hours researching and applying for loans. Business owners spent an average of 26 hours researching financial institutions. Once they found the right institutions, they spent an additional 11 hours applying for loans. 58.6% of business owners who applied for a loan spoke to more than one lender.