In our current environment getting a loan has become more difficult than normal.
Most lenders have tightened credit ratings, amount of dollars they are willing to lend, and shortened how far out they are willing to go in length of terms (years or months).
So as you as small business or you as looking for a personal loan, student loan, debt consolidation, credit cared payoffs, auto loans, or other loan requirements you may have, you start your search.
You start applying at various lenders private and public banks.
Banks will pull credit immediately which in most cases is an automatic decline (and a ding on your credit). Why the auto decline? Banks generally do not lend to small (micro) businesses and require bank statements, financial statements, tax returns, and their application, and can take weeks or months depending on what you are trying to borrow the money for (business & real estate take the longest) of your time and energy for nothing.
Private lends or credit reporting agencies like creditKarma, Experian etc. offer you a few private lenders they have agreements with, usually around 4-6 lenders based on your FICO score.
They entice you with “no impact” on your credit score…well-hold on there partner not so fast. “Soft Pulls” as they refer them as DO COUNT against you especially with banks, and some private lenders. They show up in the “backroom” of soft pull jail. And as you keep applying to the “next” soft pull loan company they keep accumulating in the “jail” of soft pulls. And you eventually become an aromatic “decline”.
Its very difficult to find the right “fit” for your loan requirements, tons of research, and usually in vain or disappointment in how much they offer- usually about half of what they say you are “pre-approved for”.
So, now its my turn, not saying we approve everyone, or provide the dollar amount you are looking for every time, BUT, what we do offer is our award winning SEARCH program with over 30 Plus top lenders with just ONE soft pull…you can see most of our lenders when you go to our very short application -with no obligation-NO Fees-and you do not have to accept any offer.
End result…better selection-better odds of getting a loan…try it