A brand new business usually has little or no credit history, so agencies have almost nothing to score. You may see a low or unrated result at first. That reflects an absence of data rather than bad conduct, and lenders generally read it that way.
Because there is no track record, funders lean on other evidence: the directors’ or owners’ personal credit histories, the trading experience behind the business, forecasts, any contracts already in place, and the asset being financed.
You can start building a file simply by trading properly — filing accounts and confirmation statements on time, paying suppliers to terms, and taking trade credit accounts that report payment data. Building history takes time and there is no shortcut.
Start-up finance is available through some funders on our panel, but it is normally a narrower market with tighter terms than for an established business, and a personal guarantee or deposit is more likely to be asked for. Every case is decided by the lender on its own facts.