Applying more than once is perfectly normal, and a previous decision does not lock you out forever. What does not help is submitting lots of rushed, near-identical applications in quick succession without anything having changed.
Why repeated identical applications don't help
If nothing about your business or the request has changed, re-submitting the same application straight away is likely to lead to the same outcome. It is better to understand why a decision went the way it did and to let something genuinely change first.
- Wait until your trading position or circumstances have moved on.
- Make sure your Companies House details are current.
- Be clear and accurate about the purpose of the funds.
The better approach
If you were declined, give it time and apply again when your business has more to show, for example stronger recent trading. A considered second application is far more useful than several hurried ones. If you are approved, the rate and term are shown in your offer.
Good to know
We do not take personal guarantees from directors or members. This is exempt business lending and is not covered by the Financial Ombudsman Service or FSCS. If you keep getting the same outcome, it usually means the underlying picture needs to change, not the number of attempts.
See also: I withdrew my application — can I start again later?, Can I borrow again after repaying my loan? and Can a non-UK company or overseas director apply?.