Can I get a business loan if I have a bad credit history?

The lenders in the market all set their own credit criteria and some will be more accommodating of bad credit histories than others. There are also specialist lenders, known as responsible finance providers, that work in local communities to help people get back on their feet, perhaps by starting a business with a business loan.

The interest rate on any loan you do secure is likely to be quite high and we recommend seeking advice before committing yourself to a high interest loan that could cause difficulties for you later on if you struggle with the repayments. There are lenders who will take advantage of your circumstances with high cost, easy credit so it is important to have a knowledgeable person in your corner.

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