Get a loan with poor credit due to Lockdown

markgladwin

My wife & I are in our mid sixties & we lost our business of 30 years during & as a consequence of lockdown. We were amongst the few unable to receive any financial assistance from the Government. We used all our savings to survive & eventually had to claim Universal Credit. Therefore, mortgage, credit cards, loans & leases all fell into arrears. Following lockdown we started a new business & are slowly clawing our way back up. We are now in the position to expand but cash flow & lack of funding is holding us back.
We have applied for a loan but no reputable company will accommodate us. 
Has anyone any advice? 

MorningcoffeeIV

If your credit history is shot, then no. 

Have you looked at business loans? If your business plan is strong enough, then that would be the route to go.

Grumpy_chap

markgladwin said:

My wife & I are in our mid sixties & we lost our business of 30 years during & as a consequence of lockdown. We were amongst the few unable to receive any financial assistance from the Government. We used all our savings to survive & eventually had to claim Universal Credit. Therefore, mortgage, credit cards, loans & leases all fell into arrears. Following lockdown we started a new business & are slowly clawing our way back up. We are now in the position to expand but cash flow & lack of funding is holding us back.
We have applied for a loan but no reputable company will accommodate us. 
Has anyone any advice? 

Have you cleared all the debts / arrears arising from the COVID period?