Timeline & Process
By David Jones, MAI, CCIM · Published 2026 · 7 min read
The short answer: 9 to 15 business days for standard delivery, 5 to 7 for rush. The longer answer: it depends on your property type, the data environment, how quickly you provide requested information, and whether your project triggers specialized research requirements that have their own lead times.
This post breaks down the timeline into its component parts so you can understand what drives it, what you can control, and how to avoid the delays that extend a 2-week process into a 4-week one.
| Project Type | Standard Timeline | Rush Timeline | What Drives the Duration |
|---|---|---|---|
| Simple acquisition (established business, common property type) | 7 to 10 business days | 5 to 6 business days | Straightforward comp set, available data, established market |
| Standard new development (single-use, metro market) | 10 to 15 business days | 6 to 8 business days | Absorption modeling, pipeline research, site visit coordination |
| Complex project (mixed-use, multiple revenue streams) | 12 to 18 business days | 8 to 10 business days | Multi-model financial projections, multiple comp sets, more data sources |
| Hotel (any type) | 12 to 20 business days | 8 to 12 business days | STR data procurement adds 3-5 business days; comp set construction requires judgment |
| Data-sparse market (rural, emerging asset class) | 12 to 20 business days | Difficult to compress | Primary research (phone surveys, extended site visits) substitutes for unavailable database coverage |
| Multi-site or portfolio | 15 to 25 business days | 10 to 15 business days | Each site requires its own market analysis; some efficiencies from shared methodology |
The range exists because no two projects are identical. A restaurant acquisition in a well-documented metro market where franchise Item 19 data is available and the competitive set is clearly defined can be completed faster than a glamping resort in rural Montana where no comparable properties exist within 100 miles and every data point must be assembled through primary research.
| Phase | Duration | What Happens | Can It Be Compressed? |
|---|---|---|---|
| Engagement and data request | 1 to 2 days | Scope confirmed, engagement letter signed, data request sent to borrower | Yes: sign quickly, have your documents ready |
| Borrower data collection | 1 to 5 days | Borrower provides site plans, business plan, financial statements, franchise docs | Yes: this is 100% in your control (see below) |
| Specialized data procurement | 0 to 5 days | STR reports ordered (hotels), CoStar data pulled, OPIS data accessed | Partially: STR custom reports take 3-5 days regardless of urgency |
| Site visit | 1 day on-site | Analyst visits property, photographs competitors, observes market conditions | Limited: travel logistics set the minimum; can overlap with data procurement |
| Market analysis and modeling | 3 to 7 days | Trade area analysis, competitive inventory, demand modeling, financial projections, sensitivity testing | Partially: rush engagements compress this through prioritized analyst allocation |
| Drafting and quality review | 2 to 4 days | Report written, exhibits created, internal quality review, formatting | Partially: parallel review can save 1-2 days on rush |
| Draft review (if applicable) | 1 to 2 days | Borrower reviews for factual accuracy | Yes: respond within 24 hours, not 5 days |
| Final delivery | Same day | Final PDF delivered with reliance letter | N/A |
Adding up the phases: the fastest possible path (everything happens immediately, no data procurement delays, rush analyst allocation) is 5 to 6 business days. The typical path with normal response times and standard scheduling is 10 to 14 business days. The extended path (slow borrower response, STR data delay, complex market requiring extended research) reaches 18 to 22 business days.
The single biggest cause of timeline extension is not data procurement or analytical complexity. It is the borrower taking a week to respond to the initial data request. The analyst cannot begin meaningful work until they have the basic project information: site plans or property description, business plan or concept overview, proposed financing terms, and any existing reports (appraisals, environmental, architectural drawings).
If you provide this information within 24 hours of the data request, the study stays on the standard timeline. If it takes 5 business days, the study is delayed by 5 business days. There is no way around this. The analyst cannot model your project's financials without knowing the project cost, cannot assess site adequacy without seeing the floor plan, and cannot model the debt service without knowing the loan terms.
Pro tip: start gathering your documents before you sign the engagement letter. If your lender has told you a feasibility study is needed, you can begin assembling the package immediately: your business plan, site plans or property listing, purchase contract or LOI, proposed loan terms from your lender, and any prior reports. Having these ready on Day 1 eliminates the most common 3 to 5 day delay.
Some delays are outside both your control and the analyst's control. They are inherent in the data environment.
| Data Issue | Delay Impact | Which Property Types |
|---|---|---|
| STR report procurement | +3 to 5 business days | Hotels (all types). STR custom reports cannot be expedited below 3 days. |
| Rural market with limited database coverage | +3 to 7 business days | Any property type in a rural or secondary market where CoStar, STR, or ESRI coverage is thin |
| Emerging asset class with no industry database | +3 to 5 business days | Glamping, agritourism, data centers in Tier 3 markets, niche concepts |
| Competitor occupancy verification (self-storage) | +2 to 4 business days | Self-storage. Phone surveys and lock checks take multiple attempts to reach each competitor. |
| Planning department research | +1 to 3 business days | Any project requiring CUP, variance, or rezoning verification. Some planning departments respond slowly. |
| Franchise Item 19 availability | +1 to 2 business days | Franchise restaurants, fitness centers. FDD may need to be requested from franchisor or borrower. |
| Seasonal site visit constraints | +3 to 10 business days | Properties in locations with limited flight access, seasonal road closures, or extreme weather windows |
A skilled analyst mitigates these delays by starting other work streams in parallel. The market analysis and competitive inventory can begin while STR data is in procurement. The financial model structure can be built while competitor phone surveys are in progress. The site visit can be scheduled to overlap with the data collection phase. Parallel execution is the difference between a 12-day timeline and a 20-day one when data delays are present.
Rush delivery typically costs 25% to 50% more than standard and compresses the timeline by 30% to 50%. But rush does not mean less thorough. The same analysis is performed; the difference is in scheduling priority and resource allocation.
| Dimension | Standard | Rush |
|---|---|---|
| Analyst allocation | Scheduled within normal workflow queue | Moves to front of queue; dedicated analyst time |
| Site visit scheduling | Scheduled within normal travel rotation | Expedited; may require additional travel cost |
| Data procurement | Standard processing time | Same (STR cannot be rushed); analyst works around delays by parallelizing |
| Analysis depth | Full scope | Full scope (no corners cut) |
| Quality review | Standard internal review cycle | Expedited review with senior analyst parallel read |
| Draft review period | 2 business days for borrower review | 24 hours or waived by agreement |
| Cost premium | Base fee | +25% to 50% |
When rush makes sense: you have a purchase contract with a closing deadline, your lender has set a specific date for the underwriting package, or the SBA authorization is expiring and needs to be renewed. In these situations, the 25% to 50% premium is insignificant relative to the cost of missing a deadline.
When rush does not help: if the timeline bottleneck is STR data procurement (hotels) or primary research in a data-sparse market, rush scheduling of the analyst does not accelerate the external data. In these cases, the analyst can begin work in parallel but cannot deliver the final product until the data arrives. An honest consultant will tell you this upfront rather than charge a rush premium they cannot deliver on.
Based on the phases above, here are the five things you can do to keep the timeline as short as possible.
1. Have your documents ready before you engage. Business plan, site plans, purchase contract, proposed loan terms. Every day you spend gathering these after the engagement is a day added to the timeline.
2. Respond to data requests within 24 hours. The analyst will send a data request list within 1 to 2 days of engagement. Respond the same day if possible. Do not wait for a follow-up reminder.
3. Confirm your lender's specific requirements upfront. Does the lender require a specific DSCR threshold? A specific projection period? A reliance letter addressed to a particular entity? Getting these requirements before the study begins avoids revision cycles after delivery.
4. Coordinate the site visit early. If the analyst needs access to the property (locked building, gated site), arrange access for the earliest possible date. A site visit that slips by a week delays the entire timeline by a week.
5. Review the draft quickly. If the consultant provides a draft for factual review, respond within 24 hours. Your review is for factual accuracy (wrong address, incorrect room count, misstated project cost), not for negotiating the conclusion. Factual review should take 30 minutes, not 5 days.
The best time to engage a feasibility study consultant is when your lender first mentions the possibility, not when they formally require it. Starting the study in parallel with your loan application can save 2 to 4 weeks compared to waiting until the lender's credit team formally requests it.
If you are unsure whether your transaction will require a feasibility study, ask your lender directly. Or contact a feasibility study provider for a complimentary assessment. A 15-minute conversation can determine the probability and let you plan accordingly. There is no cost to asking the question early, and the timeline benefit of starting early can be substantial.
For a complete overview of when feasibility studies are required, see our trigger guide. For pricing details, see our cost and timeline page.
Standard delivery in 9 to 15 business days. Rush delivery in 5 to 7 days. Contact us with your project details and deadline, and we will confirm the timeline before you commit.
Get a Timeline EstimateWorking a live file? Our SBA feasibility study consultants guide sets out scope, timing and what lenders and CDCs expect, the engagement record shows completed studies by asset class, and the full article index lists everything published here.
Reference material: glossary of SBA and feasibility terms, feasibility study FAQ, document checklist, educational center, calculator suite and the full resources library.
We are an independent SBA feasibility study company. Our SBA feasibility study consultants prepare lender ready studies under SOP 50 10 8 standards. See feasibility study cost and pricing, then request a fixed fee quote. Every study is benchmarked against our flagship SBA Feasibility Risk Meter research on 1,036,077 SBA loans.
Also useful: completed engagement record, our methodology, original SBA loan research and the firm and analyst profile.