When a competitive acquisition opportunity surfaces, time is almost always the deciding factor. The investor who can close in a week will win the deal over the investor who needs 60 days of bank underwriting — every time.
The Bank Underwriting Timeline
Conventional banks and institutional lenders typically require 45–90 days to process a commercial real estate loan. That timeline includes appraisal scheduling, credit committee review, compliance sign-offs, and final approval. Each step requires the prior step to fully complete before the next begins.
How Direct Lenders Work Differently
A direct lender like Truen & Michaels owns the capital and makes the decision internally. There is no anonymous credit committee. When Craig Truen or John Michaels reviews your file, they can give you an answer the same day — because they are the decision maker.
The result: a file-ready deal can close in as little as a week. That speed is not a marketing claim — it is the outcome of 40 years of direct lending experience, established title and legal relationships, and a process built specifically for time-sensitive transactions.
When Speed Matters Most
Speed is not always the primary factor — but in these situations, it almost always is: competitive offer situations, auction purchases, distressed acquisitions, estate sales, and bridge-to-permanent gap financing. In each case, the cost of losing the deal to a faster buyer far outweighs the rate differential between bank and direct lending.