It may still be possible, but this is one of the harder areas and you should go into it with realistic expectations. Lenders treat an Individual Voluntary Arrangement or a registered default as a significant marker. A minority of funders consider such cases; many will not. Any decision rests with the lender and depends entirely on the detail.
The main factors are timing and status. An IVA that was completed some years ago, with a business that has traded profitably since, is a far more workable case than one that is still running — while an arrangement is live, you will usually need the supervisor’s consent before taking on new credit, and most lenders will decline outright. Defaults follow the same logic: age, value, whether they have been satisfied, and whether the underlying problem is resolved.
Realistically, where finance is available on this sort of profile, expect a meaningful deposit to be required, expect the cost to be higher than for a clean file, and expect the choice of asset to be restricted to things that hold their value. A personal guarantee is very likely to be asked for.
If the arrangement is current, or there are recent defaults alongside ongoing cash flow pressure, the honest answer is that finance is unlikely. We would rather tell you that than run applications that add footprints to your file for no result.
If you want a straight assessment, tell us the dates, the amounts and the current status, and we will tell you where you stand before anything is submitted.