Having credit issues will not necessarily exclude you from successfully receiving a start up loan, however, it will be a factor that is taken into account during the application process. We are committed to responsible lending and, as part of this, we review each applicant’s past financial behaviours and current ability to afford the loan.
For this reason, we are unable to lend to applicants who have certain credit issues. These include, but are not limited to:
- You are filing for, or currently bankrupt or on a Debt Relief Order (DRO)
- You have an outstanding Individual Voluntary Arrangement (IVA) or Trust Deed
Some other credit issues may also exclude you from obtaining the loan, although these do not automatically rule you out. They include, but are not limited to:
- You are on a Debt Management Plan or Debt Arrangement Scheme (DAS)
- You have an outstanding County Court Judgement (CCJ)
Please note, Transmit Startups assesses every application on its own merits and reserves the right to decline an application for other credit related reasons, particularly in cases where lending is likely to increase an individual’s financial indebtedness.