Stay away from these scammers
Stay away from these people they change their own eligibility criteria
I applied on the 15th January 2018 was told that I would hear back in three working days, yet I had to email on the 26th January 2018 and I then received an email stating that they had not received my full application and instead of emailing to the email address I applied with they sent a response to my old email that was hacked.
Now I clicked the link provided in the email and filled in the information and still was not asked to provide a business plan or financials for the business. And without reading these or even doing credit checks they denied my application.
I did question this and say that I have never been declared bankrupt, I have no IVA's, I am not in debt management, I know no searches of my credit files took place as I would have been notified by Experian, Callcredit, or Equifax if there was, because I requested that of them when I suffered ID Theft a few years ago.
According to Startup Directs own lending criteria anybody living in the UK 18 years of age at the time of the application can apply for a startup loan. You must have already started your business, but not have been trading for longer then a period of 24 months. You must have the legal right to remain in the UK for the duration of the loan term, and the right to be self employed.
I asked for a full reason why I did not meet their eligibility criteria and received the following response:
Thanks for your email.
I am unable to disclose any information from your credit report or discuss the credit criteria of the scheme.
However, there are several factors in the credit policy and not having bankruptcies, CCJs, IVAs or Debt Management participation does not necessarily mean that you would be eligible for a Start Up loan.
Your application was declined as your personal credit is currently outside of the credit criteria of the scheme. As this is a government scheme, there is policy in place that we need to adhere to strictly to lend responsibly, and there were some issues on your credit file.
My best advice for you would be to take this away for a few months and work on improving your credit. I would suggest looking at your own credit report to see what can be improved, Noddle offer a free service you may want to try.
I’m sorry we couldn’t be of more help right now.
Thanks again for your time and effort.
Now I thought I was applying for a business loan not a personal loan, and although they claim my credit is outside their criteria to do the loan they have not done any credit searches because I would have been notified I assume that they change their response to different applicants to deny funding.
Since 2010 I have been turned down for employment opportunities and excuses I have been given vary from too much experience or too over qualified, my only option is to start my own business and earn a living but when you have companies like this denying funding because they change their criteria, and also it is against the law to use a personal loan for business STAY AWAY FROM THESE SCAMMERS