{"ok":true,"canonical_url":"https://dealroom.so/glossary/hard-inquiries","api_url":"https://dealroom.so/api/public/glossary/hard-inquiries","data_freshness":{"sba_records_through":"2026-05-31","fdic_records_through":"2026-03-31","dealroom_last_updated":"2026-06-15","timezone":"America/Chicago"},"source_summary":["Public SBA 7(a) loan records","FDIC institution data","DealRoom lender and franchise enrichment"],"term":{"slug":"hard-inquiries","term":"Hard Inquiries","group":"Reading the business","definition":"A credit check performed when you apply for new credit, like a loan or credit card. These can temporarily lower your credit score.","what_it_means":"When you apply for an SBA loan, the lender performs a Hard Inquiry on your personal credit. These stay on your Credit Report for two years and can slightly impact your FICO score. Limit unnecessary applications for other credit during your business acquisition process to keep your score optimal for the loan.","url":"https://dealroom.so/glossary/hard-inquiries","official_sources":[{"slug":"sop-50-10","title":"SOP 50 10 — Lender and Development Company Loan Programs","official_url":"https://www.sba.gov/document/sop-50-10-lender-development-company-loan-programs","official_label":"View on SBA.gov","authority_tier":2,"publisher":"U.S. Small Business Administration","source_guide_url":"https://dealroom.so/sba-7a/sources/sop-50-10"}],"related":[{"slug":"credit-inquiries","term":"Credit Inquiries","url":"https://dealroom.so/glossary/credit-inquiries"},{"slug":"credit-reports","term":"Credit Reports","url":"https://dealroom.so/glossary/credit-reports"},{"slug":"fico-score","term":"FICO score","url":"https://dealroom.so/glossary/fico-score"},{"slug":"creditworthiness","term":"Creditworthiness","url":"https://dealroom.so/glossary/creditworthiness"}],"related_questions":[{"question":"Does having many recent credit inquiries on my personal report affect SBA 7(a) loan approval chances?","url":"https://dealroom.so/sba-7a/questions/does-having-many-recent-credit-inquiries-on-my-personal-report-affect-sba-7-a-loan-approva"},{"question":"Does having many recent credit inquiries on my personal credit report affect SBA 7(a) loan approval chances?","url":"https://dealroom.so/sba-7a/questions/does-having-many-recent-credit-inquiries-on-my-personal-credit-report-affect-sba-7-a-loan-"},{"question":"If the acquired business has minimal hard assets, how does the SBA ensure adequate collateral?","url":"https://dealroom.so/sba-7a/questions/if-the-acquired-business-has-minimal-hard-assets-how-does-the-sba-ensure-adequate-collater"},{"question":"What happens if my business has very few hard assets to offer as loan collateral?","url":"https://dealroom.so/sba-loans/basics/what-happens-if-my-business-has-very-few-hard-assets-to-offer-as-loan-collateral"},{"question":"If the business has no hard assets, what kind of collateral will an SBA 7(a) loan require?","url":"https://dealroom.so/sba-7a/questions/if-the-business-has-no-hard-assets-what-kind-of-collateral-will-an-sba-7-a-loan-require"},{"question":"What constitutes sufficient collateral when a 7(a) loan is primarily for working capital with few hard assets?","url":"https://dealroom.so/for-lenders/questions/what-constitutes-sufficient-collateral-when-a-7-a-loan-is-primarily-for-working-capital-wi"}]},"caveats":["Definitions represent DealRoom's plain-English interpretation for buyers; verify regulatory terms against the official SBA and eCFR sources listed.","Not legal, tax, or financial advice, and not an SBA eligibility determination."],"citation":{"label":"DealRoom.so Glossary — Hard Inquiries","url":"https://dealroom.so/glossary/hard-inquiries","source_type":"DealRoom Data"}}