business loans - issues

[tink123]

Hi, if one out of three business partners have a poor personal credit history (few late payments, defaults with all debts now paid off)will it affect ability to get a loan

I would imagine it would if personal searches are done against this person's name.

Is the business a ltd co?

If you're an established ltd company, then personal searches may not apply, in which case it'll be fine. But, if ltd and they ask for DPGs, then yes, it could be an issue.

I guess it depends on how old this poor credit history is, what your borrowing, etc. etc. etc.

in past year :(