Asset Finance with Bad Credit

Don't let poor credit history stop your business growth

Understanding Bad Credit Asset Finance

Having bad credit doesn't automatically disqualify you from asset finance. Many lenders look beyond credit scores to assess your business's overall health and ability to repay.

What Lenders Consider

  • • Current business performance
  • • Asset value and type
  • • Trading history length
  • • Monthly turnover

Common Challenges

  • • Higher interest rates
  • • Larger deposits required
  • • More security needed
  • • Stricter terms

Your Options with Bad Credit

1. Secured Asset Finance

Using additional assets as security can improve your chances of approval and secure better rates.

  • Additional security reduces lender risk
  • Can use property or other assets
  • Often leads to better terms
  • More likely to be approved

2. Higher Deposit Options

Offering a larger deposit demonstrates commitment and reduces lender risk.

  • Typically 20-30% deposit required
  • Shows financial commitment
  • Reduces monthly payments
  • Improves approval chances

3. Specialist Lenders

Some lenders specialize in bad credit asset finance with more flexible criteria.

  • Focus on business potential
  • Understanding of past difficulties
  • Flexible assessment criteria
  • Tailored solutions available

How to Strengthen Your Application

1.

Prepare a Strong Business Case

Explain past credit issues and show how your business has improved

2.

Demonstrate Strong Cash Flow

Show consistent income and ability to make repayments

3.

Choose the Right Asset

Select assets with good resale value and clear business benefits

4.

Offer Additional Security

Consider personal guarantees or other assets as security

Tips for Success

  • Be honest about past credit issues
  • Have all documentation ready before applying
  • Consider working with a specialist broker
  • Start improving your credit score now

Ready to Explore Your Options?

Let us help you find the right asset finance solution, regardless of your credit history.