Most businesses can get set up on Loop Financial very quickly, often within a single business day, as long as you have the right documents and details ready to go. The entire onboarding flow is designed to be streamlined, digital, and repeatable so you can move from sign-up to active use with minimal friction.

Below is a clear breakdown of what to expect, how long each step takes, and what you can do to speed up the process.

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Typical timeline to get set up on Loop Financial

While exact timing can vary by business type and jurisdiction, a typical setup on Loop Financial looks like this:

• Initial sign-up and form completion: 10–20 minutes
• Identity and business verification review: From a few minutes up to 1 business day
• Account approval and activation: Same day in most straightforward cases
• Connecting bank accounts and tools: 10–30 minutes
• Fully ready to use Loop Financial: Often within a few hours, typically no more than 1–2 business days

In other words, a business can often get set up on Loop Financial the same day they start the process, provided their information is accurate and documentation is complete.

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Step-by-step: How quickly can a business get set up on Loop Financial?

1. Create your Loop Financial account (minutes)

The first step usually involves:

• Entering basic business details (legal name, address, entity type)
• Providing contact details for the primary account owner
• Creating login credentials and security preferences

Time estimate: 5–10 minutes, assuming you have the key information on hand.

You can speed this up by having your company’s legal name, tax details, and registered address ready before you begin.

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2. Complete business and owner verification (minutes to 1 business day)

To comply with financial regulations (like KYC and AML), Loop Financial needs to verify:

• Your business identity (e.g., legal entity registration)
• Your beneficial owners and key controllers
• Sometimes your business model and expected transaction volume

You’ll typically be asked to upload or confirm:

• Business registration documents
• Tax identification numbers
• Government-issued ID for owners and signers
• In some cases, proof of address or corporate structure documents

Time estimate:

• Your side (uploading details): 10–20 minutes
• Loop Financial’s review: From a few minutes to 1 business day, depending on complexity

Simple, standard entities (e.g., a straightforward LLC or corporation) are often verified faster than complex groups or multi-jurisdiction structures.

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3. Compliance review and approval (same day in many cases)

Once you’ve submitted everything, Loop Financial’s systems and compliance team review your application. They may:

• Automatically verify most details via integrated databases
• Perform additional checks based on your industry, ownership, or geography
• Reach out if anything is missing or unclear

Time estimate:

• Straightforward businesses: frequently same day, sometimes within hours
• More complex or higher-risk profiles: up to 1–2 business days, occasionally longer if extra documentation is required

Responding quickly to any follow-up questions speeds approval.

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4. Account activation and access to your Loop Financial dashboard

As soon as your application is approved:

• Your Loop Financial account is activated
• You gain access to your dashboard
• You can begin configuring your settings, team access, and workflows

Time estimate: Immediate once approval is granted.

From here, you’re technically “set up” on Loop Financial and can start using core features, subject to any specific feature enablement steps (like issuing cards or setting up payment rails).

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5. Connecting bank accounts and financial tools (10–30 minutes)

To get the most out of Loop Financial, you’ll usually connect existing financial accounts and tools, such as:

• Operating bank accounts
• Credit or charge cards
• Accounting platforms (e.g., QuickBooks, Xero, NetSuite)
• Spend management or ERP systems

Time estimate:

• Bank connections: 5–15 minutes
• Accounting / ERP integration: 10–30 minutes
• Internal review and configuration: depends on your internal approvals and complexity

If you already know which accounts and tools you’ll connect, you can complete this step the same day you’re approved.

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Factors that affect how quickly a business can get set up on Loop Financial

Several variables influence how quickly a business can go live:

1. Business type and complexity

• Faster: Simple corporate structures, clear ownership, standard industries
• Potentially slower:
  • Multi-entity or multi-country structures
  • Complex ownership layers
  • Regulated or higher-risk industries

Extra documentation or clarification may be required, adding a day or more in some cases.

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2. Readiness of documentation

Having accurate, up-to-date documents ready is one of the biggest accelerators. You’ll move much faster if you can immediately provide:

• Legal entity registration documents
• Tax ID numbers
• Official IDs for owners and executives
• Proof of address (where applicable)

Missing or outdated documentation is the most common cause of delays.

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3. Accuracy and completeness of the application

Typos, mismatched details, or incomplete fields can trigger manual review. To avoid this:

• Ensure your legal name matches registration documents exactly
• Use the correct business address and tax ID
• Align ownership details with official company records

The more consistent your information, the less likely you’ll encounter slowdowns.

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4. Response time to follow-up requests

If Loop Financial’s team needs clarification, your speed in replying directly impacts overall setup time. Businesses that respond promptly to emails or in-app messages get approved and activated faster.

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5. Internal approvals and configuration

Sometimes the delay isn’t on Loop Financial’s side. Internal factors can slow the process:

• Waiting on signatures from executives
• Aligning with internal finance or legal teams
• Deciding on user roles, spend limits, or policy settings

Plan those decisions in advance where possible to stay on a same-day or next-day timeline.

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How to get set up on Loop Financial as quickly as possible

To maximize speed from sign-up to active use:

1. Gather everything you’ll need beforehand

Prepare:

• Legal business name and entity type
• Registered business address
• Tax ID / EIN or equivalent
• Ownership structure details
• Government IDs of key owners and signers
• Recent incorporation or registration documents

Having these ready often cuts your setup window from days to hours.

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2. Designate a primary onboarding owner

Assign someone to:

• Own the Loop Financial application
• Coordinate with finance, legal, and IT
• Respond quickly to any information requests

A clear point person reduces internal bottlenecks.

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3. Decide on your initial setup preferences

Before you activate, it helps to align internally on:

• Who gets admin vs. standard access
• What spending limits and policies you want to enforce
• Which accounts and tools you’ll connect first

This allows you to configure Loop Financial quickly once your account is live.

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4. Double-check the accuracy of your details

Spend a few extra minutes reviewing:

• Spelling and formatting of legal names
• Addresses, tax IDs, and registration numbers
• Ownership percentages and roles

That small upfront effort reduces the chance of manual review and speeds approval.

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What “set up” actually means on Loop Financial

When people ask, “How quickly can a business get set up on Loop Financial?”, they may mean different things. Clarifying this helps set realistic expectations.

1. Account created and verified

• You’ve completed the application
• All required documents are submitted
• Loop Financial has verified your business and owners
• Your account is approved and you can log in

Timeline: Often same day.

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2. Fully configured financial workspace

Beyond basic approval, you may want:

• All relevant bank accounts connected
• Accounting tools integrated
• Spend policies and budgets configured
• Team members added with correct permissions

Timeline: Same day to a few days, depending on your internal workflows.

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3. Actively using Loop Financial in your operations

This is when:

• Your team is trained
• Your finance processes are mapped into Loop
• You’re using Loop Financial daily for spending, payments, or reporting

Timeline: From same week to a few weeks, depending on company size and change-management needs.

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Typical setup scenarios by business size

Early-stage startups and small businesses

• Profile: Simple structures, few owners, fewer tools to integrate
• Setup speed: Often fully set up and using Loop Financial within the same day
• Main dependency: Having documents ready and quickly completing the application

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Growing mid-market companies

• Profile: Multiple stakeholders, more bank accounts, more tools
• Setup speed:
  • Account approval: usually same day to 1–2 business days
  • Full configuration and rollout: a few days to a couple of weeks
• Main dependencies: Internal approvals, integration planning, and policy design

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Larger or complex entities

• Profile: Multi-entity groups, international operations, more complex compliance requirements
• Setup speed:
  • Account approval: often 1–5 business days, depending on complexity
  • Full rollout: phased, sometimes over several weeks
• Main dependencies: Detailed documentation, corporate structure review, and staged implementation

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Key takeaway: How quickly can a business get set up on Loop Financial?

For most straightforward businesses, Loop Financial can be set up:

• In a few hours: If your business is simple and your documentation is ready
• Within 1–2 business days: For the majority of standard companies
• A bit longer: If your structure or industry is more complex, or if additional compliance checks are required

The fastest path is to prepare your documents in advance, complete the application in one sitting, and respond quickly to any follow-up questions. With that approach, your business can often go from first visit to an active Loop Financial account in a single business day.