Declines are often caused by a combination of issues rather than one single factor.
Common weaknesses
- Inconsistent revenue.
- Repeated overdrafts or NSFs.
- Low average balances.
- Heavy existing debt.
- Recent credit problems.
- Insufficient time in business.
- Unclear use of funds.
Prepare before applying
Review statements, credit, obligations, and documentation before submitting an application. Applying to the wrong product can create unnecessary inquiries and wasted time.
Bottom line
Preparation can improve both efficiency and the quality of the financing options presented.
Educational information only. Financing and approval criteria vary by funder, product, industry, and applicant. Nothing on this page guarantees approval, terms, or a specific funding amount. Consult appropriate financial, tax, legal, and insurance professionals for advice specific to your business.