Credit checks will be performed on the company and the stakeholders such as directors, major shareholders and guarantors. The lenders we work with usually do a credit check as the last part of your loan application assessment.
Credit checks can not be performed until you have completed a privacy declaration.
Good credit is absolutely required for an unsecured loan. A few blemishes are okay for other loans provided that they are paid off prior to settlement.
Defaults to other finance companies will generally lead to a decline unless they were paid some time ago.
If there has been a liquidation or a recievership in a borrowers past a loan may still be considered provided the loan is not ongoing.
Ex-bankrupts that are proving their worth can be considered.
Invoice finance, secured loans and guarantor loans are best suited to borrowers with a blemished credit history.
The length of time the process takes is very much up to you. If you are able to provide the simple documents requested in the submission and nothing further is required then approval may be granted within 24 hours after pressing send.
If further information is required we will contact you promptly so we can start the approval process as soon as possible.
Once the facility is approved you will be provided with a quote and if you are satisfied with this documents will usually be completed ion the next 24 hours.
Execution of the documents and settlement can take place the following day.
With this in mind funds can usually be paid to your account in between 2 and 4 days after you have completed the application.