How long does it take to refinance a business loan?
A straightforward business loan refinance often runs a few weeks from application to settlement, while anything secured by property usually runs longer again. Property brings a valuation to book and report plus a mortgage the outgoing lender has to discharge before anything settles. Equipment and unsecured facilities can often move faster. The variable is rarely the new lender’s speed. It is the payout figure and how quickly paperwork comes back from everybody involved. Start earlier than you think you need to.
What the timeline is made of
Assessment and conditional approval usually come first. That part can be quick where your financials are current. Then the slower pieces start. A valuation on commercial property takes time to book, inspect and report. Your existing lender has to issue a payout figure, which comes with an expiry date on it, so the timing of that request matters. Loan documents then need signing and, on secured deals, a solicitor arranges discharge of the old security so the new one can be registered in its place.
What makes it quicker
Having your recent financials, BAS, bank statements and current loan statements ready at the start removes most of the waiting. Ask your existing lender for a payout figure early rather than at the end. Where a discharge form is needed, lodge it as soon as the new approval is unconditional, because that step often sits with the outgoing lender for a week or two. A broker chasing the moving parts usually saves more time than a faster credit decision does.
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Last updated 15th July 2026. Reviewed by Authorised Credit Representative 554584 of Australian Credit Licence 414426.