A decline is not permanent. Our credit assessment is based on your company's position at the time of application, and that position can change. Many companies that were initially unsuccessful go on to be approved after addressing the underlying factors.
Understanding why you were declined
We will tell you the primary reason for the decision in your decline notification. Common reasons include insufficient trading history, cash-flow irregularities visible in bank data, or a credit profile that does not yet meet our current parameters. You can also contact our team to discuss the decision in more detail.
When can I reapply?
We recommend waiting at least three months before reapplying, and using that time to address the specific issues raised. For example, if cash flow was the concern, three to six months of more consistent incomings and outgoings will strengthen a new application materially. If it was trading history, waiting until you have a fuller set of filed accounts may make a significant difference.
What to do differently the second time
- Connect via Open Banking rather than uploading statements, so we see a complete and up-to-date picture.
- Ensure your Companies House records are current — any changes to directors or registered address should be filed before you apply.
- Consider whether a smaller initial amount or a shorter term would fit your company's current profile more comfortably.
We lend only to UK limited companies and LLPs, and the loan is to the company with no director personal guarantee. As business finance outside the consumer-credit regime, it is not covered by the Financial Ombudsman Service or FSCS.
See also: What slows down a business finance application?, What documents do I need to apply?.