SBA's answer: The lender typically has 10 days. “Active undisbursed” means it has been approved, but the funds have not been disbursed. This means that SBA provided a loan number and the lender can then close and disburse the loan funds.

What does undisbursed mean?

Funds committed by the creditor but not yet utilized by the borrower. In BIS terminology, this refers to open lines of credit that are legally binding on lending banks.

How long does it take for PPP funds to be disbursed?

Once approved, the SBA requires lenders to disburse funds within 10 calendar days. Your loan is considered approved once the SBA assigns you a loan number. In general, the PPP loan funding timeline is around two weeks, from when you submit your application to the time the lender disburses funds.