Businesses come in all different shapes and sizes and each has their own story. Some lenders look at the business and its financial records to asses their ability to repay the loan based only on factual information and trading history. Of course this is a very sensible tactic but sometimes a negative history is not what it seems and can often be explained. Our staff talk to lenders and explain our client’s back stories allowing the lender to make an informed decision.
After sending a loan application on behalf of a client recently we were surprised when the application was rejected by one of our usual lenders. We had provided all the information required, the company was profitable and had shown growth. It became clear that the Directors had experienced a previous liquidation and this was the reason for the rejection. We tried all our usual lenders with no luck but we didn’t give up. There was a very valid reason for the previous liquidation and we were able to explain this to one of our lenders and secured a £50,000 loan for the client.
To discuss your lending options get in touch with us.
