Declined by your bank? What to do next

• Limited trading history, often under two or three years
• Recent losses, or accounts that don't yet reflect current performance
• Lack of property or other security
• Sector appetite — some banks avoid certain industries entirely
• Personal or business credit issues, even minor or historic ones

Each full application can leave a hard search on your credit file. Several in a short space of time can make the next lender more cautious. Before applying again, understand why you were declined — ask your bank for feedback — and target lenders whose criteria actually fit.

• Invoice finance — lends against your invoices, so customer quality matters as much as your own history
• Asset finance — the equipment itself provides security
• Government-backed loans — a partial guarantee can make lenders more willing
• Working capital finance — including revenue-based options for card-taking businesses
• Asset refinance — release cash from equipment you already own

An independent broker knows which of the specialist and challenger lenders are likely to accept your profile before an application goes in. That saves time, protects your credit file and presents your case in the way each lender wants to see it. Check your eligibility to start.