What is the process for disbursing funds after approval?

Once a loan is approved by LightStream, the disbursement of funds typically follows a straightforward process. First, the borrower will receive a notification confirming the approval. This notification often includes details such as the loan amount, interest rate, and terms of repayment. After the borrower accepts the loan terms, LightStream will initiate the disbursement of funds. The funds are usually transferred via electronic funds transfer to the borrower's designated bank account. In many cases, this process can be completed within the same business day, provided all necessary documentation has been submitted and the borrower's account information is valid. It is important for the borrower to ensure that their bank information is accurate to avoid delays. If there are any specific requirements or documentation needed for the disbursement, those will also be communicated by LightStream at the time of approval. For the most up-to-date information regarding processes and timelines, it is a good idea to consult LightStream's official website or contact them directly for assistance.