After that, the request is briefly presented, and it officially enters into the approval process. Depending on the financing channel, complexity, and the risk of the request, the time required for the approval may be from 2 weeks to up to 4 months. Throughout this process, there is no guarantee that the placement will be approved during that time. Because of that, we encourage all entrepreneurs to go with their requests to more than one financing channel.
In the end, there is a variety of benefits for an entrepreneur. More precisely, in the case of double approval, his negotiating power is a bit stronger, and it can often happen that the final decision concerning financing is reduced to the lower cost of financing.