A decline means that, based on the assessment at the time you applied, we could not responsibly offer your limited company or LLP the borrowing requested. We know it is disappointing, so here is what it does and does not mean.
What a decline means
It means the information available did not give us enough confidence that the company could comfortably sustain the repayments. It reflects this application, this amount and this moment, not a permanent verdict on your business.
What it does not mean
- It is not a mark against you personally; we take no personal guarantees
- It does not mean the business is failing
- It does not bar you from applying again in the future
Your options
- Ask us to explain the main reasons behind the outcome
- Request that a person reviews the decision if you think something was missed
- Reapply later once the picture has changed
Credicorp is an exempt business lender. The Financial Ombudsman Service and FSCS do not cover this borrowing, but we will always try to explain a decision clearly.
See also: Why your offer amount can change, Can I reapply after a decline?, How Flex and Slice decisions differ.