2 min read
Understand the reason
Ask the lender why. The usual causes are affordability that did not stack up, incomplete records, a credit-file issue, or an amount too large for the cash flow. Each is addressable. See the affordability guide.
Fix and reapply
Tighten the weak point — collect overdue invoices, tidy your accounts, correct credit-file errors, or ask for a smaller amount — then reapply where you genuinely fit. Avoid scattering applications in the meantime.
What it means for you
Credicorp lends to your company, not to you personally, and takes no personal guarantee. See business loans or apply online.
Frequently asked questions
Why might my application be declined?
Common reasons are affordability falling short, incomplete records, a credit-file issue, or asking for too much. Ask the lender, then address the specific gap.
Can I reapply after a decline?
Yes, once you have fixed the reason. Reapply from a stronger position rather than immediately scattering applications, which can mark your file and signal distress.
Related reading
How do lenders decide if I can afford a loan?
Lenders test affordability by checking whether the cash your business generates can cover the new repayments…
Read →
How do I improve my business credit score?
Pay on time, file accounts early, correct any errors on your credit file, and keep credit utilisation…
Read →
What should I do before I apply for business finance?
Before applying, tidy your records, work out your affordability, check and correct your credit file, and be…
Read →
Why was my business loan application declined?
Declines usually come down to affordability, credit history, thin trading data or an incomplete application —…
Read →Funding for UK limited companies
Credicorp lends to your company, not to you personally — short-term working capital with no personal guarantee. See what your business could access.