A decline is not a permanent bar. You are welcome to reapply, and many companies that were declined at one point subsequently receive an offer once their circumstances change. The key is understanding what drove the original decline and addressing it before reapplying.
How long should I wait before reapplying?
There is no fixed mandatory waiting period, but reapplying immediately after a decline rarely changes the outcome because the underlying data will not have shifted. As a general guide:
- If the decline was due to trading history, wait until another set of management or filed accounts is available that demonstrates a longer track record.
- If the decline was due to a CCJ or default, wait until that adverse entry is satisfied and the correction is reflected in bureau records — this can take four to six weeks after settlement.
- If the decline was due to affordability, a meaningful improvement in revenue or reduction in existing debt obligations will strengthen a fresh application.
What changes between applications
When you reapply, we run a fresh assessment using data current at the point of the new application. A previous decline does not carry a weighting in our model — each application is assessed on its own merits at the time it is reviewed. However, if multiple applications are submitted in quick succession, bureau data may record the enquiries, which can themselves be a signal worth being aware of.
Should I contact us before reapplying?
If you are unsure whether the circumstances that led to the decline have sufficiently changed, you are welcome to contact our team before submitting. We cannot pre-approve an application in advance, but we can often tell you whether the specific reason for your decline is something that a reapplication could now address.
We lend only to UK limited companies and LLPs, and the loan is to the company with no director personal guarantee required. As business finance outside the consumer-credit regime, it is not covered by the Financial Ombudsman Service or FSCS.
See also: Why was my application declined?, What data do you use to make a lending decision?.