Only if it can show present or near-future capacity to produce more than a minimal living for the family, which for a solo consultancy usually means contracted revenue and a credible hiring plan.
Capacity to support more than the founder is the whole question
An enterprise is marginal if it lacks the present or future capacity to generate more than enough income to provide a minimal living for the investor and family. Capacity in the future is generally assessed over a period of about five years, so a business that is small today is not automatically disqualified. What carries the argument is evidence rather than optimism: executed client agreements with values and terms, a pipeline supported by written engagements rather than conversations, and a hiring plan naming the positions to be filled, when and at what wage.
A consultancy whose entire projected revenue equals the founder's expected earnings, with no employees planned, is describing a job. If that is the honest picture, the answer is to change the business plan or the route, not the wording of the application.