Yes, you can reapply after a decline. A declined application is a point-in-time decision based on the information available at that moment, not a permanent bar on your company. The question is what has changed — or what you can now demonstrate — since the original assessment.
Understand why you were declined before reapplying
We will tell you the principal reason for a decline. Common reasons include insufficient trading history, a CCJ that was not explained, inconsistent bank statement activity, or a loan amount that appeared disproportionate to turnover. Each of these can be addressed. Reapplying immediately without any change is unlikely to produce a different outcome — use the feedback as a checklist.
How to strengthen a reapplication
- Allow time for your trading position to improve if the issue was revenue or account activity — typically two to three months of cleaner statements makes a meaningful difference.
- If the decline related to a CCJ, provide evidence it has been satisfied and a short explanation of how it arose.
- If turnover was the issue, consider applying for a smaller facility or a product better matched to your current scale — for instance, Credicorp Slice for a single bill rather than a revolving Flex facility.
- Address any Companies House issues: overdue confirmation statements, incorrect officer records, or a dormant status that does not reflect active trading.
When to contact us before reapplying
If you are unsure whether the change in your circumstances is sufficient to warrant a new application, contact our team. A brief conversation can save you an unnecessary application and the associated credit check.
We lend only to UK limited companies and LLPs, and the loan is to the company with no director personal guarantee. As business finance outside the consumer-credit regime, it is not covered by the Financial Ombudsman Service or FSCS.
See also: What strengthens a Credicorp application?, What does a soft search show on your company credit file?, How long does a Credicorp approval decision last?