Loans & Overdrafts

The banks have turned me down for a loan for my business. Can you help?

There may be many reasons why your loan application has been turned down, and a personal business adviser can help you decide how best to proceed. If you do not have a personal business adviser then we advise that you contact your local Business Link.

If the reason you have been refused a loan is because you have no security to offer a lender or because yours is a new business without a trading record, you might qualify for help through the Small Firms Loan Guarantee Scheme. This encourages the banks to make loans to businesses they would otherwise not lend to, by providing a Government guarantee against default by the borrower.

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