Bounce back loan with bad credit

blackie76

Does anyone know if it’s possible to get a bounce back loan if you have bad credit ? 

Thanks in advance 

[Deleted User]

Sole trader or limited company?
How bad is your bad credit, just a poor "score", CCJ, IVA, bankruptcy?
Do you meet all the requirements for the scheme?

Percy1983

Your credit file has no effect, they may check it for fraud etc but its purely based on your business accounts/tax returns.

khanji17

What if the business was registered in Jan/Feb this year and has no credit history, just predicted turnover?

Danrover82

Percy1983 said:

Your credit file has no effect, they may check it for fraud etc but its purely based on your business accounts/tax returns.

Not strictly true 

Many banks are scoring people for a feeder account. As a way to score the loan 

fenwick458

I don't think your credit score matters, a friend of a friend is a bank manager, they have said they have had lots of people applying for these loans in the bank that in normal circumstances wouldn't qualify for a £100 overdraft. they don't hold out much hope of the loans ever being repaid. guess the government will just have to pay it back then...

Gandhi23

In theory, it shouldn't matter. 
In Practise;
My credit score isn't great - I was declined by both Starling and HSBC for opening a feeder account. There are no fraud markers or other issues with my history apart from a very old satisfied CCJ and one default.

obrienkenobi

As above, your usual credit worthiness won't effect your BBL application (I applied for and received a 20k BBL from santander despite the fact that I'd usually struggle to be accepted for a library card) however if you need to apply for a new business account in order to make the BBL application you may have a problem.

Janethunter65

Gandhi23 said:

In theory, it shouldn't matter. 
In Practise;
My credit score isn't great - I was declined by both Starling and HSBC for opening a feeder account. There are no fraud markers or other issues with my history apart from a very old satisfied CCJ and one default.

How long was it from e signing relevant forms to rejection. If you don’t mind me asking?

Danrover82

It's wrong though, because a feeder account will be closed after the down payment. 

Hope I'm wrong though as its my only hope at the moment 

Danrover82

Gandhi23 said:

In theory, it shouldn't matter. 
In Practise;
My credit score isn't great - I was declined by both Starling and HSBC for opening a feeder account. There are no fraud markers or other issues with my history apart from a very old satisfied CCJ and one default.

Who do you bank with and is it a personal account