Understanding if and why a personal credit check may be required.
When applying for business finance, a personal credit check is conducted by the lender solely when there's a need for personal guarantees to bolster the business finance application. This step ensures a comprehensive evaluation while maintaining focus on the specific circumstances that warrant such checks.
The need for a personal credit check is assessed on a case-by-case basis. If you'd like to know more about this, get in touch with our team of experienced lending experts.