If your application was declined, we understand it is disappointing. Here is what to do next and how to improve your chances if you apply again.
What we can tell you
We provide a decline reason in the decision notification we send you. We are required to do this under UK consumer credit and data-protection rules. The reason will tell you the main factor — for example, the company's current credit position, the affordability assessment relative to your bank account activity, or an identity-verification issue. If you did not receive or cannot find the notification, contact us and we will resend it.
Check the main reason and act on it
- Credit position — if your company has adverse credit entries (CCJs, defaults, or payment arrears with other lenders), addressing those over time will improve your profile. Check your company's credit file via Companies House-linked providers such as CreditSafe, Experian Business, or Creditsafe.
- Affordability — if your bank account activity at the time of the application showed a tight cash position, applying later when your company's cash flow is stronger may produce a different result.
- Identity verification — if the decline related to an ID check, contact us. It may be possible to resolve the issue with additional documentation.
- Eligibility — if you applied as a sole trader or unincorporated partnership, or for a personal purpose, your company is not within our lending criteria. We lend only to UK limited companies and LLPs for business purposes.
When can I apply again?
There is no mandatory waiting period written into our policy. However, applying again immediately after a decline — without the underlying reason having changed — is unlikely to produce a different result and generates another credit search. We suggest waiting until the factor that caused the decline has meaningfully changed.
Free independent guidance
Business Debtline (0800 197 6026, free) and the British Business Bank's Finance Hub provide free, impartial guidance on business financing options, including types of lenders and products that may suit your company better at this stage.
See also: How Credicorp makes a lending decision, Complaining about an automated decision, My top-up request was declined.