How does a small business owner know if their business loan has been approved?
Once you apply for a business loan through one of the government loans programs, it is important to maintain regular contact with the department or agency that has accepted your application. You want to know if your business loan has been approved as soon as possible after you apply. There are a large number of business loan applications processed yearly through the federal and provincial government funding, and the approval process can take time if not all information is provided by the applicant.
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