In Australia, credit agencies such as Equifax, Illion, and Experion, along with major banks and lenders, maintain credit files that calculate your credit score. This score reflects your borrowing reliability; a higher score signifies better creditworthiness. Negative records like defaults, unpaid bills, or disputes can lower your score, making borrowing difficult. Similarly, having no credit history also poses challenges in securing loans.

If you need funding for purposes like buying property, starting a business, purchasing a car, or managing sudden expenses, and have a low or no credit score, Novo Business Solutions can help. We connect you with lenders who specialize in bad credit situations, ensuring you find the right financing solution.