Declined by the bank: what are your options?
A bank’s refusal does not close the door to commercial lenders: they read your deposits first. Each lender decides on its own, in its written offer.
Choose my amountThe answers
- Does a bank’s refusal close the door?
- Not in itself. Commercial lenders read mostly the business’s actual deposits, not only the credit score or the financial statements a bank requires.
- Why might a commercial lender read the file differently from a bank?
- A bank follows a tight grid: time in business, balance sheets, ratios. A commercial lender sometimes takes a shorter file, at a higher cost, which it sets in its written offer.
- Should I wait before applying again?
- No. A recent refusal does not stop the file from being presented elsewhere; what counts is what your statements of the last few months show.
- What is needed to present my file?
- Your contact details and your business bank statements, online. We prepare the file and present it to the lenders you authorize.
- Will lenders see my refusal?
- We do not pass on your bank’s decision. A lender may check your credit file before making an offer, only with your authorization.
What the lender looks at
- Actual deposits, month by month
- What the business really takes in, not what the bank judged.
- Days in overdraft
- A frequent overdraft weighs more than a bank’s refusal.
- Payments to other lenders
- Advances already running reduce what a lender can offer.
- How long the business has been operating
- A younger business can still be presented; the lender sets its own thresholds.
$0 upfront · 7% only if funded
An intermediary, not a lender.
The lender sets the final amount and its cost in its written offer.
Choose my amount