8 - 12 weeks for a bank loan

[pvman]

I'm looking at getting a business loan, my bank have told me it will take 8 - 12 weeks! Is this normal or is it worth trying other banks? Any experiences would be helpful as 8 weeks seems like a long time to get a loan approved.

Tom

 

[Gavin A]

that's ridiculous.

 

[pvman]

That's what I thought, business opportunity will have passed me by if I have to wait that long>

 

[SRE]

I've heard Co-op banks are more sympathetic to business than others. We're with Natwest and I definitely wouldn't recommend them to anyone.

 

[Somecamel]

They must be waiting for the next wave of Quantitative Easing to hit their accounts before they can lend