How to get a soft pull business loan or mca merchant cash advance

How to get a soft pull business loan or cash advance.
What is a soft pull business loan?   A soft pull is when personal credit is pulled and checked but does not show as a credit inquiry and does not lower your credit score.

How to get a soft pull business loan

  1. When applying for any type of credit or funding, review the website to see if credit pulls will be a soft pull or hard pull. If it does not state such and you are interested in the service, call a representative and ask.
  2. Once credit will be pulled, ask if it will be a soft credit pull or a hard credit pull.
  3. Some lenders will review your information and can pre-approve you or make a pre-assessment without any credit being pulled.  Ask for a pre-application review.
  4. When it is a soft credit pull and the lenders criteria matches your need, consider applying.
  5. If approved, review final terms and conditions.  If acceptable, complete transaction.

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How to get a soft pull business loan or mca merchant cash advance

F.A.Q.’s, Frequently asked questions, comments and requests.

I need a soft pull. Can you do that?

This will be a soft pull. When you apply tell the representative that you want to have a soft pull.

I have a recent credit report already. Can I just provide you a copy of my credit report and get a decision using the report I already have?

When your credit report is less than 30 days old, it can be used. We will get back to you with an assessment or pre-approval, after which you can decide to proceed with a full review and a soft pull can be done to try to make an offer.

I have to have a soft pull. The last company I used pulled my credit so many times. They were a broker. Can I get approved with just a soft pull?

You can get approved with just a soft credit check. We will make sure it is a soft pull and not a hard pull. Tell us immediately you only want a soft pull and we can arrange for the credit pull to not affect or lower your credit score.
If a previous company ran your credit 5, 10 or more times, then we will keep help you keep your credit from taking more hits.
We will work with you step by step to make sure the process has the minimal affect on your credit and credit score.

Can you review my file before you pull credit or before you do a soft pull?

Yes. We will review your file before credit is pulled and respond to you with either a pre-approval or assessment of your file. After the review, processing can be completed to try to make an offer or give an approval.
A free detailed review can be discussed with you before your file goes into underwriting.

Am I limiting my options by not allowing a hard credit pull?

You may be denying yourself better rates and longer terms when applying for a small business loan if you do not allow a hard credit pull.

How much do hard credit pulls hurt versus a soft pull?

Hard credit pulls hurt your credit score little and for only a short amount of time. Credit scores going down from too many inquiries pulled in the span of a few weeks will recover within two or three months. The impact from inquiries is short term.