Credicorp
Business loan declined UK: what happens next and what your options are
If your business loan application is declined in the UK, you have the right to a plain-English explanation and a human review. Here is what a Credicorp decline looks like, what it means, and what to do next.
A decline is a hard thing to put in an email. We try to do it well — clearly, quickly, and with useful next steps wherever we can.
Why we decline
The most common reasons are affordability (the company's current trading does not support the requested amount or term), insufficient trading history (we ask for at least six months), and Companies House status (dissolved, in liquidation, or in compulsory strike-off). None of those is a moral judgement — they are just facts about whether the loan is the right tool right now.
What we tell you
We will tell you the primary reason in plain English, not just a code. We will tell you which sources of information shaped the decision (e.g. Companies House, the bank statements you provided, the affordability assessment). And we will tell you how to challenge it.
Your right to human review
Under Article 22 of the UK GDPR, you have the right to ask for a human review of any automated decision. Our decline email includes a link to a one-click form for that — a real person, not a script, will read the application and either confirm the decline (with more detail) or overturn it.
If we cannot help right now
Sometimes the right answer is for a business to come back later — with three more months of trading on the books, or with a tidier creditor position. Sometimes another lender is the right answer. We will not pretend otherwise. Our How we lend page describes our affordability approach, and Business Debtline (0800 197 6026) is the free, independent route if the underlying issue is cashflow rather than the loan itself.
Common questions about a declined business loan application
Can I appeal a declined business loan decision in the UK?
Yes. Under Article 22 of the UK GDPR, you have the right to ask for a human review of any decision made by automated means. Our decline email includes a link to a one-click request form — a real person will read the application and either confirm the decline with more detail, or overturn it. This is available to every applicant, at no cost, and does not affect your right to reapply later.
What are the most common reasons a UK business loan application is declined?
The most common reasons for a declined application at Credicorp are: affordability — the company's current trading does not support the requested amount or term; insufficient trading history (we require at least six months); Companies House status issues such as dissolution, liquidation, or compulsory strike-off; and bank statement patterns that do not support the repayment requested. None of these is a permanent barrier — circumstances change, and you are welcome to reapply when they do.
Related reading
More from the newsroom
Why Credicorp never asks for a personal guarantee: UK business lending without director liability
Most UK small-business lenders require a personal guarantee from the director. Credicorp does not. Here is what a personal guarantee actually means, and the deliberate decision we made to lend to the company — not the person.
Business loan with no director guarantee: what it means in practice
Credicorp's business loan carries no personal guarantee and no director liability. Every loan is to the limited company. Here is what that means day to day.
Business loan pricing in plain English UK: what the daily rate really means
Daily-rate pricing is unusual on personal credit but common on short-term business finance. Here is exactly how we charge interest, what the cap means, and a worked example.
Our commitment to responsible business lending in the UK
As we begin trading, we set out the principles behind our responsible UK business lending — and our promise to treat every business fairly and on its own merits.
Ready when your company is
A 5-minute application. AI decision in minutes, confirmed by a real underwriter. Same-day funding on approval. No personal guarantee.