Talk to your lender as early as possible, ideally before you miss a payment. Lenders have more options when they're told in advance, and acting early protects your credit record and any guarantees or security.
What a lender may be able to do
At the lender's discretion:
- a short payment holiday, or interest-only payments for a while
- extending the term to lower the monthly repayment
- restructuring the facility
If payments are missed
- the business's credit record is affected
- the lender can call on any security or personal guarantee
- the debt can be passed to collection, or legal action taken
Under the Growth Guarantee Scheme
The government guarantee protects the lender, not your business. Your business stays liable for the whole debt. See Does a Growth Guarantee Scheme loan need a personal guarantee?.
Free advice
- Business Debtline: free, confidential advice for businesses and the self-employed.
- Your accountant, or an independent insolvency adviser if things are serious.
Talk to us too
We can't give debt advice, but we can help you understand your facility and, where it makes sense, look at whether restructuring could help.
Last reviewed: 8 October 2026