Getting Trade Finance with Bad Credit: Your Options Explained

Bad Credit Doesn't Mean No Options

If you've had credit issues in the past, you might think business finance is off the table. The good news is that specialist lenders understand that life happens - and they're willing to look at the bigger picture.

At Tradesman Finance, we work with lenders who specialise in less-than-perfect credit. We focus on your current situation and ability to repay, not just your credit history.

What Lenders Really Look At

While credit score matters, it's not the only factor. Lenders also consider: current income and business performance, how recent any defaults or issues are, the value of the equipment being financed (as security), and whether you have a guarantor.

A strong business performance can offset historical credit issues. If you can show regular income and explain any past problems, many lenders will still approve you.

Tips for Improving Your Approval Chances

Be honest about your credit history - surprises during the application hurt more than upfront disclosure.

Offer a larger deposit if possible - this reduces lender risk.

Consider a guarantor for the finance agreement.

Start with smaller amounts to build a positive payment history.

Work with a specialist broker who knows which lenders are most flexible.