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BMO - Loan vs. Line of Credit: What�s the Difference?loan paperwork. Throughout the process, you are provided with updates on the loan status and funding. The BMO Lending Specialist takes care of the entire. Connect with us at BMO to discuss how to you can apply for the personal loan or line of credit you need to make your plans come true. After completing your application, BMO takes approximately two business days to process your loan. Beyond BMO, personal loans can take up to