The time it takes to get a loan with MPOWER Financing can vary based on several factors. Ensuring that documents and information are submitted timely and accurately will speed up the process.
Timeline Breakdown:
- Application Submission: Approx. 30 minutes.
- Initial Review: Usually, within a few minutes of application submission.
- Document Upload: Up to 30 minutes if documents are ready.
- Final Review and Loan Decision: Approx. 3-5 business days after complete document submission.
- Certification and Funding: The time taken for this stage will depend on the response from your school and the disbursement plan shared by your school.
- Total Process Time: The entire process from application submission to funding disbursement can take approximately 20-30 business days, depending on the promptness of completing each stage, the responsiveness of your school in certifying the loan, and loan terms, etc.