The Reasons Why Business Loans Are Rejected

Low Credit Score

A low credit score makes it difficult to secure a business loan.

Incomplete Documentation

Not giving all the documents the lender wants can lead to rejection.

Lack of Collateral

It is possible to reject a loan if collateral is insufficient or lacking.

Weak Income

If your business isn't making much, lenders might think you can't pay back.

Risky Industry

Lenders may be cautious about lending to businesses in volatile or risky industries.

Early-stage Business

A lender may be less willing to lend to a new business if it does not have a proven track record.