Soft inquiries don't affect your credit score; they're for non-lending purposes. Hard inquiries, by lenders when you seek credit, can temporarily lower your score and stay on your report for up to two years.

A business line of credit provides flexible access to funds that can be used as needed, similar to a credit card, while a term business loan offers a lump sum of money upfront with fixed repayment terms over a specified period.

You can improve your credit score by making timely payments, keeping your credit utilization low, and maintaining a mix of credit types, including credit cards.

Factors to consider include interest rates, fees, rewards programs, credit limit, issuer reputation, and any special features or benefits offered.

Credit card interest is charged on the balance you carry from month to month if you don't pay your full statement balance by the due date. It's calculated based on the annual percentage rate (APR) and added to your balance.

Lenders evaluate factors such as the business's credit score, revenue, cash flow, profitability, industry risk, and collateral when assessing eligibility for a line of credit.