Yes. A decline reflects one application at one moment, so your limited company or LLP can apply again in future. The key is to reapply when something meaningful has changed.
When reapplying makes sense
- Your trading has become steadier or stronger
- You have reduced or cleared existing commitments
- A temporary issue, such as a returned payment, is now well behind you
- You can now connect a business bank account you did not before
When to wait
Reapplying immediately with the same information usually produces the same result. If nothing has changed, give the business time so the picture genuinely improves before trying again.
Make the next application count
- Request an amount that comfortably fits your trading
- Ensure your company details are accurate and current
- Provide a complete picture so the assessment is not working with gaps
Credicorp is an exempt business lender to UK companies and LLPs only. The Financial Ombudsman Service and FSCS do not apply.
See also: Understanding a decline, Does a previous decline stay on record when I re-apply?, How to prepare your company before you apply.