As a small business owner, keeping track of your business’s financial health is crucial for long-term success. This includes monitoring cash flow, managing expenses, staying on top of invoices, and ensuring timely tax filings. One often overlooked aspect is maintaining a strong business credit score.
A lower business credit score can result in higher borrowing costs, limited access to financing, and reduced opportunities for growth. It’s essential to manage your credit carefully, as missed payments or excessive debt can negatively impact your score, making it harder to secure favorable loan terms. At NEWITY, we make it easy for small businesses to see if they are eligible for business loans with no credit impact.
Small Business Loans with No Credit Impact
Through NEWITY you can apply for an SBA loan for up to $500,000 without impacting your credit score. We make this possible by performing a soft credit pull when you complete our business loan application.
A soft credit pull, or soft inquiry, is a type of credit check that does not impact your credit score. It provides a snapshot of your credit history without being recorded on your credit report as a formal inquiry. NEWITY uses soft pulls to evaluate potential borrowers without affecting their credit, unlike hard credit pulls, which can lower your score slightly and appear on your credit report.
Advantages of a Soft Credit Pull:
- Quick Approval: Since SBA loans through NEWITY’s platform don’t rely on a hard credit check, the approval process can be faster, providing businesses with the funds they need quickly. In fact, we can help small businesses get funding 3 times faster than the national average.
- Protects Credit Score: Without a hard credit inquiry, your business’s credit score remains unaffected during the application process.
Create an account and complete the loan application to find out how much you’re eligible for—without impacting your credit score! Our quick, streamlined process takes under 10 minutes.
