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What To Do If Your Business Loan Is Denied

Getting denied for a business loan is disappointing. But understanding why your application was denied and taking steps to correct these issues can boost your odds for approval next time.

    Erica Seppala
  • Last updated onUpdated

  • Chelsea Krause
  • REVIEWED BY

    Chelsea Krause

    Lead Staff Writer

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Key Takeaway Common reasons for loan denial include low credit scores, insufficient revenue, high debt, or incomplete applications. Understanding the cause helps you address the issue and improve your chances of approval on your next attempt.
Erica Seppala

Erica Seppala

Editor & Senior Staff Writer at Merchant Maverick
Erica began writing on small business topics in 2008. She joined Merchant Maverick in 2018 and focuses on loans, accounting, and POS. She is a Certified ProAdvisor for QuickBooks Online and QuickBooks Payroll. She has been cited in MSN, Reader's Digest, Vox, U.S. News & World Report, and Real Simple. She is a graduate of Limestone University and resides in Greenville, South Carolina.
Erica Seppala
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