Business Loans With An IVA

If you’ve entered an IVA agreement, you’re generally in a poor financial position. However, that shouldn’t mean you can’t continue to grow a business – provided you can get the support of the right lender and the consent from your creditors. 

Being in an IVA is a difficult challenge if you need to borrow more money. You’ll already have an agreed repayment window with your creditors, and there are strict limits on how you must repay them. In an IVA, you generally need permission from your insolvency practitioner to take out any new forms of credit. In addition, you’ll need to let them know if your income changes, which may be highly inconvenient when running a business month-to-month. 

IVAs pose lots of issues for business owners. The key question is whether you can successfully maintain your business and turn a profit if you are forced to operate under such strict financial demands. Rangewell’s team can help you answer this by finding lenders who can lend to people with poor credit, including those in IVAs. 

Whether you need to raise loans to fund business growth or repay your IVA early and build your credit rating back up, contact Rangewell today.

Can I get a business loan as an IVA customer?

IVAs place limitations on your ability to raise further loans, though if you can reach an agreement with your creditors, you will be able to approach new lenders. 

Rangewell will act as your financial expert and navigate an agreement across both your creditors and potential lenders. We’ll sharpen your business plan and help you demonstrate the best values of your business, which will help mitigate your poor credit rating. 

Get loans with an IVA

Being in an IVA is restrictive, but it shouldn’t be needlessly so – if there’s a good reason for you to raise further credit, such as to pay your suppliers to continue growing your business, getting a loan can help you maintain profitability and ultimately, be more able to repay your IVA.

Rangewell will take care of every aspect of the complex process to make raising a loan with an IVA as straightforward as it can be. Get in touch with our team today so we can talk through your options.