Why does it take so long from the moment I submit a financing application until the funds are released?
We are well aware that companies need to be able to access funds within a reasonable time frame; nonetheless, like all banks, we are required to comply with the regulator's ever-increasing number of requirements.
While BGL BNP Paribas must ensure it has a clear understanding of the proposed investment, all too often the bank is only consulted at the end of the process, which can delay the financing approval process. It is important to get the bank involved as early as possible when considering possible future investments.
Did you know that at BGL BNP Paribas the decision is made within 72 hours in 30% of cases?
And did you also know that the vast majority of loan decisions are made locally (100% for SME applications)?