Hard Search

A hard search is a full credit check conducted by a lender, leaving a visible mark on both the business and/or director credit file. Multiple hard searches in a short period can adversely affect credit scores, as they indicate a business or individual actively seeking credit. Other lenders can see hard search footprints.

Hard searches are typically conducted when a formal credit application is submitted and a lending decision is being made. They are distinct from soft searches, which are used for initial eligibility assessment and leave no visible footprint. Most responsible lenders use a soft search approach for initial assessment before proceeding to a hard search only when an application is being formally processed.

Spark Finance uses a soft search on initial assessment. Hard searches are only conducted by lenders when a formal credit application is submitted. This protects applicants' credit files during the comparison and selection process.

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