11/11/2025
If you are a small business owner thinking about funding, you NEED to read this. There is so much outdated advice out there, especially around credit scores and application safety.
There’s a lot of misinformation floating around about business loans. Let’s clear a few common myths:
Myth 1: You need perfect credit to qualify.
✅ Fact: Many lenders look at business performance, cash flow, and growth potential — not just credit scores.
Myth 2: SBA loans are the only good option.
✅ Fact: Lines of credit, term loans, and alternative funding can be faster and more flexible depending on your needs.
Myth 3: Applying for multiple loans hurts your credit.
✅ Fact: Soft credit pulls let you explore options without impacting your score.
Myth 4: Banks are the only safe choice.
✅ Fact: Alternative lenders and funding marketplaces can be just as safe — and often quicker.
💡 The key is knowing your options and choosing the right funding for your business goals.
At LendingWISE, we help business owners navigate myths, compare lenders, and get funded faster.
Question: What’s the biggest business loan myth you’ve heard?
