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Business Financing with Adverse Credit

Although we are officially out of the recession i firmly believe the economy is still on the edge. As such it will be a long time before banks and high street finance companiesgo back to their cavalier days of lending money to any tom dick and harry. It is bad enough getting finance with a clean credit history and even more difficult if you have any adverse credit. this doesnt mean you wont get finance however you can expect to pay more in terms of interest rates and you will also find the security required will be more onerous.

Luckily XL Business Finance has been helping business for many years with all kinds of business financing requirements. We know how to structure a finance proposal to ensure you have the best possible chance of success. We can very quickly find any adverse data recorded against a limited company and it is advisable to get copies of satisfaction certificates or confirmation of settlements in advance of the application. At very least we need to provide an explanation as to how the adverse info came about and what the plans are if any to address the situation.

If as a director of a newly formed limited company or a transaction which requires the provision of a personal guarantee any finance company will carry out a credit check on you personally. They will need permission of course and if you approach more than one finance company this may leave multiple searches and potentially adversely affect your personal credit score. If you are going to be undertaking a round robin of the UK based leasing and invoice discounting companies we recommend that you obtain your own personal credit reference report. This is cheap and easy to do. If you cant be bothered than we can do it but we will require written confirmation to undertake the search on your behalf.

 

 

 

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XL Business Finance Ltd is a privately owned and independent business financing company with established links to many of the UK's leading finance houses. XL Business Finance provides a viable alternative to high street banks that lack the flexibility and imagination to provide a solution to most business users requirements. XL Business Finance can provide a full range of business financing solutions and we ensure a high level of customer service and pride ourselves on quick decisions. Our independent status will ensure any offer of funding and asset finance leasing is best suited to our customer’s needs.

XL Business Finance, Eaton Place Business Centre, 114 Washway Road, Sale, Cheshire M33 7RF UK.

 

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