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A loan approval process should take anywhere from 1 day to 1 month, depending on the size and type of loan applied for, as well as the credit risk and underwriting needed for the borrower. loan approval process should take anywhere from 1 day to 1 month, depending on the size and type of loan applied for, as well as the credit risk and underwriting needed for the borrower.
A loan approval process should take anywhere from 1 day to 1 month, depending on the size and type of loan applied for, as well as the credit risk and underwriting needed for the borrower.he loan approval process is determined by the lender and is based on their need to assure themselves that the amount of loan that is being lent is going to a party that demonstrates the necessary responsibility to pay the loan back. Lenderâs Loan Approval Process.