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Start up loan and credit check
almanak
Posts: 210 Forumite
Did anyone get a start up loan and is their credit check the same as for a personal loan which means without credit history you have no chance of getting it?
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Comments
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Any sane lender will credit check you firstly before they open a business account for you and then lend their money to you.
If there were no checks we would all be asking for these loans would we not?0 -
Would you?You have to have a business plan approved to even start applying and business registered.jonesMUFCforever said:
If there were no checks we would all be asking for these loans would we not?0 -
Yes of course.almanak said:
Would you?You have to have a business plan approved to even start applying and business registered.jonesMUFCforever said:
If there were no checks we would all be asking for these loans would we not?0 -
please do then and write here how it was.jonesMUFCforever said:
Yes of course.almanak said:
Would you?You have to have a business plan approved to even start applying and business registered.jonesMUFCforever said:
If there were no checks we would all be asking for these loans would we not?0 -
As JonesMUFCforever rightly says a credit check would be normal prior to any loan decision. For a new business they would have to credit check the owner as there is no business assets or credit history. FWIW don't pay for anything about your score - you can access your file with any credit agency free, and for a business credit check this shows why if it's new the credit risk will naturally be greater
https://www.firstreport.co.uk/Free-Company-Credit-Check.aspx
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How can I put this - I was on the other side of the counter. Comprende?almanak said:
please do then and write here how it was.jonesMUFCforever said:
Yes of course.almanak said:
Would you?You have to have a business plan approved to even start applying and business registered.jonesMUFCforever said:
If there were no checks we would all be asking for these loans would we not?0
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