28/11/2025
At LendEdge, a key part of what we do is educating business owners about how they can make their lives easier when it comes to getting finance for their business.
One thing which is often overlooked is the importance of knowing how your personal credit file will impact an application. Yes, the lender is lending to a business, but they are also lending to YOU as a business owner. This is especially important when personal guarantee is required (which is most of the time).
So before you apply:
- download your personal credit file
- see if there are any issues and speak to the creditors concerned to see how things can be improved
- if there is no short term fix, speak to your finance broker about them. They can then make sure they are speaking to the right lenders on your behalf and set expectations
Brokers, lenders and borrowers should always be working in partnership with each other. The more information we have, the better the decisions we can make.