Raising funding and credit checks

Wilfred said:

Hi

About to be very brave and apply for a business loan (£20k)for a ltd company established just over six months and now beginning to see some returns. Cash will be for training, new equipment and advertising/marketing. I have put in a similar amount of my own money over the past six months to get up and running and cover startup expenses.

I am the sole director and am happy with my personal good credit report which i monitor regularly with equifax and experian , but I would like to credit check the business before the application. Where and how is the best place?

How will a business application impact on my personal report? Would like it to be as minimal as possible so as not to jeapordise a domestic mortgage application currently being processed.

Currently bank with HSBC and intend to apply with them, on a "track record" basis but are there any other lenders I should approach?

Would prefer a funding circle type loan but not yet established long enough.

Any ideas please??

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IANL said:

Every credit application will leave a 'footprint' on your records. In a business applicaton most banks and finance house will do a credit check on the directors of the business, expecially if a small business.

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fundingportal said:

they will have to ask for your permission toundertake personal searches - though this might be butteid in multiple forms.

The odd 'footprint' won't harm you creditr score, but if you go out to the market you will need to manage the situation

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