How long does a business loan approval stay valid?
Most business loan approvals come with an expiry date on them, commonly somewhere around 30 to 90 days depending on the lender and the type of facility. The letter of offer will say. Property backed approvals often run longer than unsecured ones, because the valuation sitting behind them has its own shelf life. An approval is not a promise that nothing can change either. If your position moves before settlement, a lender can revisit it regardless of the date.
What starts and stops the clock
The clock usually runs from the date on the letter of offer rather than from the day you accept it. Valuations and credit reports and financials all carry their own currency, so an approval can effectively age out because one of the documents behind it has. Bank statements are the usual culprit, since most lenders want them no more than a month or so old at settlement. Where a purchase drags on, the fix is often a fresh set of statements rather than a whole new application.
Getting an approval extended
Extensions are common and usually straightforward where nothing material has changed. Ask early rather than in the week settlement falls due, because the approval still has to go back through credit. Where a valuation has expired the lender may want a new one, which takes time and costs money. Keep your broker across any change to the settlement date as it happens. The awkward cases are the ones where an approval quietly lapsed months ago and the business has had a softer quarter since.
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Last updated 15th July 2026. Reviewed by Authorised Credit Representative 554584 of Australian Credit Licence 414426.