Many businesses aren’t aware that when applying for finance, lenders will check the credit scores of the business and its directors.
Your credit score can be affected by a range of things, including:-
- Unpaid bills (yours or others at your address)
- Whether you’re on the electoral roll
- Paying suppliers promptly
- Past searches for credit (including getting quotes for finance or utility contracts)
If you have been surprised to be declined finance it may be worth asking a credit reference agency for your score – visit www.bipa.uk.com to find out more.
