BOSTON – Santander Bank last week announced a new expedited loan-approval process called “two days to fund,” which allows customers to sign up for personal loans and lines of credits and receive funds within as few as two days.
Michael Cleary, Santander’s head of consumer and business banking, says it’s about “making customers’ lives easier.”
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“The new initiative simplifies the loan application process considerably for qualifying customers, reducing the time it takes to get a loan from 20 or more days to as few as two days and replacing the existing paper-based, in-branch loan closing process for personal loans and personal lines of credits,” he said in a statement.
Qualified borrowers will be able to close on loans electronically using DocuSign, an online signing software. The loans and lines of credits will be of up to $35,000.
