How Fast Can I Get Approved for a Private Loan?

Speed is one of the biggest advantages of private lending. Where banks can take weeks or even months to assess a loan, private lenders can deliver approvals and settlements in a fraction of the time.

​

At Innovate Funding, we aim to provide indicative approval within 24 hours and settle most loans within 2 to 5 business days. However, the actual timeline depends not only on us but also on how quickly the borrower and supporting parties act.

​

Key Factors That Dictate Loan Speed

1. How Quickly the Client Responds

The borrower plays a central role in determining the timeline. When clients respond quickly to requests for information or documents, we can progress the loan without delays. This includes:

• Providing ID and council rates notice promptly

• Supplying statements of existing debts secured against the property

• Reviewing and signing loan offers and legal documents without delay

Borrowers who act quickly often see their loans settled in just a few days.

​

2. Turnaround Time on Valuations

For most loans, a valuation of the property is required to confirm security value. The timeline depends on:

• How quickly property access can be arranged

• How fast the valuer can inspect and issue the report

In metro areas, valuations are often turned around within 24 to 48 hours. In regional areas, it may take slightly longer.

​

3. Reviewing and Signing Loan Documents

Once formal approval is issued, the lender’s solicitor prepares loan documents. Speed of settlement depends on:

• How quickly the borrower’s solicitor reviews the documents

• The borrower’s readiness to sign and return the executed documents

• Coordination between all parties for final settlement

At Innovate Funding, we work closely with the borrower’s solicitor to ensure documents are turned around as quickly as possible.

​

4. Lender and Solicitor Coordination

Every loan involves both the lender’s legal team and the borrower’s solicitor. Having a solicitor who responds quickly is critical. Delays in legal review and correspondence can add days to the settlement process.

​

Typical Approval and Settlement Timelines

With responsive clients and streamlined communication, Innovate Funding can usually deliver:

• Indicative Approval: within 24 hours of receiving the loan scenario

• Formal Approval: within 1 to 2 business days, subject to valuation and documentation

• Settlement: 2 to 5 business days, provided valuation and loan documents are returned promptly

In many cases, the speed of settlement is determined more by how quickly documents are signed and valuations are completed than by Innovate Funding’s processes.

​

Why Private Lending is Faster Than Banks

Banks require:

• Full tax returns

• Detailed financial statements

• BAS and income verification

• Strict servicing calculations

Private lending, by contrast, is based on:

• The value of the security property

• The equity position

• The viability of the exit strategy

This allows Innovate Funding to approve loans with minimal documentation – only ID, council rates notice, and existing debt statements if any.

​

Case Studies by City

Sydney

A property investor in Bondi required urgent funding to settle a property purchase. They returned all documents within 24 hours, and valuation access was granted immediately. Innovate Funding issued approval in one day and settled a $1.1 million first mortgage in four business days.

​

Melbourne

A developer in Cranbourne required $850,000 to complete a subdivision stage. Valuation was completed within two days, and the borrower’s solicitor returned loan documents in 48 hours. Innovate Funding settled the loan in five business days.

​

Brisbane

A business owner in Fortitude Valley required a $400,000 second mortgage to clear tax debt. The client delayed returning signed loan documents, which extended settlement to seven days. The loan still settled much faster than a bank could deliver.

​

How Borrowers Can Help Speed Up the Process

To achieve the fastest possible settlement, borrowers should:

• Respond promptly to requests for ID, council rates notice, and loan statements

• Arrange property access for valuers quickly

• Engage a solicitor who can review documents without delay

• Review and sign loan documents as soon as they are issued

• Provide clear instructions for settlement timing

By being proactive, borrowers can help Innovate Funding settle loans in record time.

​

The Innovate Funding Advantage

At Innovate Funding, we manage the process end-to-end to ensure the fastest possible outcome. We provide:

• Indicative approvals in 24 hours

• Transparent timelines, dependent on borrower responsiveness and valuation turnaround

• Close coordination with solicitors and valuers to avoid delays

• No-doc, NCCP-exempt loans structured for business and investment purposes

• Australia-wide service with local expertise