Getting denied for business credit is frustrating, but knowing why you were turned down can help improve your chances next time. From your cash flow to your utilization ratio, this infographic breaks down the common reasons small businesses are turned down and explains steps to take before reapplying.
IF YOU GET DECLINED
When a bank considers your application for business credit, they take a close look at your history with creditors and billers—as well as reviewing your company’s financials. These are some of the reasons applications are declined.
Getting turned down for business credit is frustrating, but knowing why it happened can help improve your chances next time.
To discuss your needs and find the solutions that work best for your business, please contact a small business banker.
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