Credit
What a soft credit check means when you apply for business funding
Credible Lending Editorial · Updated · 3 min read
The short answer
A soft credit check lets a lender review your credit history without affecting your credit score, and it isn't visible to other lenders. Credible Lending uses a soft check when you apply. A hard inquiry, which can lower your score slightly for a short time, only happens if you accept an offer.
Soft pull vs. hard pull
| Soft inquiry | Hard inquiry | |
|---|---|---|
| Affects your score | No | Slightly, temporarily |
| Visible to other lenders | No | Yes |
| When it happens at Credible Lending | When you apply | Only if you accept an offer |
Because applying only triggers a soft check, you can see what you qualify for, compare it against other options and walk away with no effect on your credit.
What else do we review?
Personal credit is one input. Revenue, cash flow and time in business usually matter more for business funding decisions, which is why we ask for recent bank statements.