Can I get a start up loan with bad credit?

A poor credit history can affect your ability to get finance but at Portman we work with a number of specialist lenders who may be able to help. For new businesses, your ability to obtain finance is based on a number of factors including your turnover or projection, your business plan, your personal wealth and homeownership status, other businesses you may be involved with and your own credit history. A bad credit history will affect the rates you are able to obtain but might not prevent you from obtaining credit entirely.

As much as we aim to help every start-up business that comes to us, poor credit history is likely to limit your ability to get finance for your company. For new businesses, your ability to obtain finance is based on several factors, including:

  • Your turnover or projection
  • Your business plan
  • Your personal wealth and homeownership status
  • Other businesses you may be involved with

Poor credit history will affect the rates you can obtain and may prevent you from obtaining credit entirely. If you have poor credit, we suggest you look at ways to increase your credit score before applying for a start-up loan.