The biggest mistake is send an application to multiple sources… especially with unspecialized brokers. Retail consumers often apply for credit (e.g., car loans, home refinance, credit cards) to either increase their chances of approval or to get the best terms. Many small business owners use that same mentality when applying for an unsecured small business loan or working capital loan. Not only does this not help, but it almost always adversely affects any/all applications. Not only is the risk of being declined due to over-submission, but also the likelihood that credit scores will be greatly compromised due to multiple hard-credit pulls… and credit scores can mean the difference of an expensive vs reasonable approval, and worse… a decline vs an approval. The rates and terms are all over the place, from anywhere near bank rates, all the way down to bad credit cash advances.