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    a poor credit score when he fails to make payments on time. Late payment adversely affects a borrower’s credit score. A borrower acquires even worse credit score if he defaults in the repayment of a loan.

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    ayment adversely affects a borrower’s credit score. A borrower acquires even worse credit score if he defaults in the repayment of a loan.

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    A bad credit score might hamper your chances of getting a business loan. Arrears, defaults, county court judgements, late payments, and bankruptcy add up to a bad credit history. A bad credit history implies that you have failed to repay loans as per the terms and conditions. This might deter lenders from giving you a loan.

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