A pre-approval means we've looked at more detailed, verified information, including a soft credit check that won't affect your score*, and we expect you'll be approved. It happens after you submit a full application.
This is a good sign. It means you're on the right track toward funding. But a lender still needs to do a final review before anything is confirmed, so a pre-approval is not a guaranteed offer either.
*Filling out an application for business funding and submitting it to our funding partners will not impact your personal credit score. However, depending on the product and lender, accepting a funding offer may result in a hard credit inquiry, which could affect your personal credit score.