Has anyone on here ever worked for a bank or lender?

Cheers

or otherwise has good knowledge of this?

worried_jim

I can tell you that in over four years of authorising credit I never once paid any attention to any customers credit "score".

Cheers

Thanks worried, do you reckon deciders on a business startup loan ignore the applicant's bad credit and approve if they like the plan...or are more likely to reject it and steal the idea for them self?..nothing to stop them doing that

pjread

I think "and steal the idea for them self" is rather unlikely; but rejecting someone for poor history is of course valid though regardless of how great any idea is. I don't see any sane lender 'ignoring the applicant's bad credit' per se, at least not without security and a high rate.

BrassicWoman

"is the applicant risking as much as the bank"? was always my start point....

worried_jim

Cheers wrote: »

Thanks worried, do you reckon deciders on a business startup loan ignore the applicant's bad credit and approve if they like the plan...or are more likely to reject it and steal the idea for them self?..nothing to stop them doing that

I have never had anything to do with commercial credit, just consumer- sorry.

dealer_wins

Cheers give it up mate. You wont get a loan!!

WellKnownSid

Cheers wrote: »

Thanks worried, do you reckon deciders on a business startup loan ignore the applicant's bad credit and approve if they like the plan...or are more likely to reject it and steal the idea for them self?..nothing to stop them doing that

No-one will be interested in stealing your ideas. A bank will be interested in the facts on paper - which in your case don't look great.

Do you actually have a comprehensive business plan?

Cheers

Thanks worried jim.
Anyone worked for a bank? Please say so if replying, don't be put off by any chatting regulars, who can get quite stalker-like on here, but cannot stalk you in real life

Gaz83

What a bizarre post.

Anyway, what is it you actually hope to ask?

As I told you in your other thread, no-one will be able to tell you whether you'll be accepted or not. Lenders don't make their acceptance criteria known, and it will be decided by a computer somewhere or other.

If you have a poor credit history, and a history of missed payments, and are applying as a sole trader, you're not going to get accepted without putting significant security down, and even then it's going to be at a high-risk APR. That's the way it is.

Puddylove

Cheers wrote: »

Thanks worried jim.
Anyone worked for a bank? Please say so if replying, don't be put off by any chatting regulars, who can get quite stalker-like on here, but cannot stalk you in real life

Why don't you just apply, and see how it goes?

Then you can come back in triumph and tell everyone how wrong they were, as you work towards your first million.

I don't understand why you are so invested in what all the weirdo stalkers :rotfl: on this forum have to say....
P x