The master equation for 12-monomer lattice heteropolymers is solved nu
merically and the time evolution of the occupancy of the native state
is determined. At low temperatures, the median folding time follows th
e Arrhenius law and is governed by the longest relaxation time. For go
od folders significant kinetic traps appear in the folding funnel, whe
reas for bad folders the traps also occur in non-native energy valleys
.