Compare bank, non-bank and specialist options after identifying whether the issue was policy, serviceability, security, conduct or documentation.
A construction business was declined because its new ABN did not meet the bank's trading-history rule. We proved continuity through its prior sole-trader history and secured the revolving facility within 24 hours.
The objective is not simply to find a lender that says yes; it is to find a lender whose policy fits the facts.
Policy, cash flow, credit conduct, security or documentation.
Amount, term, security or product may need to change.
Submit where the deal has a credible policy and credit fit.
A bank decline is not itself a universal credit-file event, but any credit enquiries and the underlying financial facts can be relevant. Avoid unnecessary applications.
Usually not. Repeated applications can add enquiries and waste time. First identify why the request did not fit the bank.
Start with the amount, purpose and business profile.