The approval is good for 30-days. It is important that you activate your loan and finalize your vehicle purchase or refinance prior to the expiration so that SBA can guarantee your rate. Once your approval expires, you will be required to reapply. You are not obligated to proceed with the offered loan.
Articles in this section
- Are there any vehicle restrictions?
- Can I fax, rather than upload my loan documents?
- Can I personalize my new payment amount and loan terms prior to submitting an application?
- Can I transfer my approval offer to friends or family?
- Can you issue an approval without affecting my credit score?
- Do I need auto insurance?
- Do you finance loans with more than one borrower on the loan?
- Do you finance people with less than perfect credit or who have had a bankruptcy?
- Does SpringboardAuto finance RV’s, trailers or motorcycles?
- Does SpringboardAuto offer refinancing?