i want a business loan of 15000 but have very poor credit record and no collateral. what are my chances

business is either pub with accomadation or restaurant

Asked by caterer01

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Answered by Darren Smith, IFA in Basingstoke, HAMPSHIRE
to be honest, not very good. lenders are incredibly strict now even for people with an impeccable credit history. you will possibly find someone that's willing to lend but the rate might be painful as it would be a risk-rated APR. expect to be paying "credit card rates" possibly 30%.

having said all that, have a look at www.creditexpert.co.uk you can get a 30 day free trial to look at your credit file and then see if there are hiccups you can clear up or any errors that need to be corrected. its all traffic light marked and you want all green lights, a red means you will be highly unlikely to get any credit offered to you, amber is a possibility but if its within 12 months, again, unlikely. | 02.21.11 @ 13:29
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$commenter.renderDisplayableName() — {comment} | 08.20.17 @ 11:52
K
Answered by kobemcklain
Those people who acquire or are in favor of small amount for a short period of time then these fast business loans would be much suitable. Such loans are termed as easy payday loans and majority of such lenders would not need any kind of credit check. | 08.20.13 @ 11:37
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$commenter.renderDisplayableName() — {comment} | 08.20.17 @ 11:52
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Answered by

Darren Smith
Darren Smith, IFA in Basingstoke, HAMPSHIRE

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