Grow your business

The process of
lending money

Credit rating and scoring

Credit rating

A credit rating is an estimate of your ability to fulfil financial commitments, based on your history of spending, earning, and repaying debts in a timely manner.

If you’re worried about your credit rating being a barrier when it comes to asking for money, there are some very simple ways to improve it.

  1. 01

    Consistently pay all bills on time

  2. 02

    Get yourself registered on the electoral roll

  3. 03

    Pay off more debts and, if possible, pay more than just the minimum amount allowed

  4. 04

    Close accounts associated with unused credit cards, direct debits and mobile phone contracts

    It's worth reviewing your credit score

    It’s your legal right to get a copy of your own credit report, and generally getting hold of one from a credit reference agency costs very little or is free.

Your funding options

Acquiring funding is an essential step when looking to grow a business, as most need that initial cash injection. It's important to understand how much money you'll need and what type of funding will suit you best. We have a range of funding options that you can consider.

Credit scoring

Lenders will need assurance that you have the ability to repay the amount, and that they can trust you to keep up with payments over a prolonged period of time. You can learn more with the credit scoring guide below.

Free accounting software? yes please.

Royal Bank of Scotland have partnered with FreeAgent, an online cloud accounting software created with the aim of helping small businesses manage their finances through one easy to use platform. FreeAgent is packed with benefits, learn more about how it could benefit your business.

Anything else we can help with?

icon-twitter-black Created with Sketch.
icon-visit-us-in-branch-locator-premier-berry Created with Sketch.