Yes, our process was designed so that applying does not affect your credit score. We issue the initial pre-qualification based on a “soft credit pull”, meaning there will not be a hard inquiry on your credit upfront.
A “hard credit pull” will be done to consider your application when:
- Your verification's are completed.
- For Dealer Purchase or Refinance applications, occurs after an SBA agent has verified all uploaded documents by the borrower.
- For Private Party Purchase applications, occurs after an SBA agent has verified all uploaded documents by both the borrower and seller.
- Your application is declined or withdrawn.
- If you provide us consent by clicking the "Telemarketing and Application Referral Consent" in your SBA application, your information will be sent to one of our partners who may complete a hard pull to find a solution for your financing needs.
A hard credit pull will be reflected on your credit bureau and viewed by others accessing your report.