How can I get a business loan with bad credit?

Firstly, it’s worth checking your credit score by getting copies of your business credit reports. You can review these for any errors and question anything you believe to be inaccurate with the credit agency. The best next step is to start to increase your creditworthiness. This can be done by using a credit card, or opening a line of credit. There are also sources of funding available, such as Start Up loans, which help new businesses with no credit history to fund their growth. Alternatively, equity and grant finance may be available that provide you with business loans based on the potential of your company, rather than your creditworthiness. 

We also offer Tide Credit Builder – designed specifically to help small businesses grow their credit worthiness and open up future options for funding.

It’s £5.99 + VAT per month, and gives you unlimited invoicing and quotes creation plus more time-saving and payment-boosting options like invoice chasing and automatic invoice matching. 

Find out more about Invoice Assistant over on this page.

* Invoice Assistant is our invoicing add-on – you can get it on its own or as part of our Admin Extra plan. If you want to use Invoice Assistant, but have an available free trial for Admin Extra, you must use the free trial first. Then, if you don’t want to stay on Admin Extra when your trial is up, you can downgrade before it ends, and sign up for Invoice Assistant only.  See more about Tide Accounting options here.