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Adam Randall
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This is how dumb the whole credit application thing is.

My employees can get a credit card, a loan for a house and access to many and varied credit facilities all based on the wages they get from the business.

Because I am the director of the company (even though I am an employee as well) It triggers something with the banks that says I am self employed.

Guess what? No loans or credit cards for me.

Who’s position is more secure I ask myself???? Who built the company from nothing? Who cannot get a loan……

As others have said above though, the whole reason the GFC was the loose lending practices of financial institutions.

I think for myself anyway, the fact I have not been able to borrow money has in some ways made me more accountable for actually making money in the business. If the money does not come in, I do not have a safety blanket like an overdraft etc.

Means I have to have actual cash in the bank to operate and sometimes I admit, it can get a bit tropical for my liking.