If you’re thinking about applying for a business loan, overdraft, or trade credit, your business credit score plays a big part in whether you’re approved — and on what terms. But how high does your score need to be? And what’s considered a “good” score?
In this guide, we’ll explain what lenders look for, what a good business score means, and how to improve your chances of getting the funding you need.
Do You Need a Business Credit Score to Get Funding?
You don’t always need a business credit score to apply, especially if your company is new. But the more data lenders can see, the better. That’s where a strong business credit report can help.
At Menna, we have partnered with Equifax to give you access to your business credit score – for free -so you can see what lenders and suppliers see before you apply.
What Is a Good Business Credit Score?
Menna business scores range from 0 to 1,000. The higher your score, the lower your risk in the eyes of lenders.
Below 440: High Risk – funding unlikely
440+: Medium Risk – may qualify for some credit products
610+: Low Risk – likely to be approved with better terms
810+: Very Low Risk – strong chance of approval and the best rates
Most lenders prefer a score of 600 or above, though some may still offer funding below that threshold, especially if other parts of your application are strong.
What Is the Minimum Credit Score to Start a Business?
Technically, you don’t need a credit score to start a business. You can register with Companies House and open a business bank account without one. But if you want to access funding, a strong credit score will help.
Lenders may also assess:
Your personal credit score
Your company’s financials or turnover
Bank transaction data
Your sector or trading history
What Else Do Lenders Look At?
In addition to your credit score, lenders and suppliers may also review:
Your company’s age and registration history
Turnover and bank data (to check income stability)
Outstanding CCJs or defaults
Payment behaviour with other creditors
Director credit history, especially for new businesses
How to Improve Your Chances
If your business credit score isn’t where you want it to be, here are a few tips:
Pay suppliers and invoices on time
Avoid late payments and CCJs
Check your credit report regularly (Menna makes this easy)
Dispute any errors you find on your report
Use a business credit card or trade accounts responsibly
Check Your Business Credit Score with Menna
At Menna, we’ve partnered with Equifax to give you a free, instant view of your business credit report — with no hard check and no strings attached.
Knowing your credit score puts you in control when applying for finance. You’ll understand how lenders see your business and what steps to take to improve your chances.
Check your free business credit score with Menna today.
