Short answer: Checking your eligibility with Instant Business Finance does not affect your credit score, because our 60-second check doesn't make a credit enquiry. A credit check happens only later, with your consent, if you choose to proceed. Multiple formal applications with different lenders in a short time can lower your score.
Eligibility checks vs credit applications
An eligibility check uses the information you give us, such as the amount, purpose, property and trading details, to see which loans fit. No credit enquiry is lodged. A formal application may involve a credit check, which appears on your file. We always ask first.
How to protect your score while shopping around
- Use no-enquiry eligibility checks first
- Only make formal applications when you're ready to proceed
- Avoid applying with several lenders at once
Does a business loan show on my personal credit file?
It can, especially if you're a sole trader or give a personal guarantee. Repaying on time can help your file over time.
