Turned Down by the Bank / Glossary
Business loans after a bank decline glossary
The words you'll hear from lenders and brokers, explained in a sentence or two.
- Bank Referral Scheme
- A government scheme that makes the largest UK banks offer to refer declined small businesses to designated finance platforms.
- CDFI
- A community development finance institution: a responsible lender that serves businesses banks won't.
- CCJ
- A county court judgment, a court order to repay a debt, recorded on credit files.
- Credit file
- A record of borrowing and repayments held by credit reference agencies.
- Start Up Loans
- A government-backed personal loan for business owners trading under 3 years, up to £25,000.