Frequently Asked Questions About Pre-Qualification
Does pre-qualification affect my credit score?
No. Soft pre-qualification checks use a soft inquiry, which does not impact your credit score. Only a formal loan application (hard inquiry) affects your credit.
How long does pre-qualification take?
Most pre-qualification eligibility checks take just a few minutes. At Smarter Business Funding, our 2-minute pre-qualification quiz gives you an instant estimate.
Does pre-qualification guarantee approval?
Not always. Pre-qualification shows what you’re likely to qualify for based on your profile. Final approval depends on completing the full application and documentation process.
Can I pre-qualify with bad credit?
Yes. Many funding types look beyond just credit score—such as revenue-based funding, merchant cash advances, or no-collateral options. Pre-qualification helps match you to the best fit.
Why should I pre-qualify instead of applying directly?
Pre-qualifying protects your credit score, saves you from wasted applications, and shows you where to improve before applying—boosting your chances of approval.