A large percentage of small business owners experience denial of their commercial loan requests. Denial is not the end of the road. Loan applications can be denied for any number of reasons. Overcoming loan denial starts with understanding the reasons why...... and is achieved by taking actions necessary to to reduce identified weaknesses.
We are very familiar with the many reasons small
businesses are denied credit. In fact, The Healthy Credit Practices
Program partnered with 7 bankers and 4 community organizations to gather and examine the most common reasons small businesses are denied credit. Our
findings were compiled and published in The Credit Barriers Report: Examining
Loan Denial in California. To view or download a copy of the report click here.
If you've experience a denial of your loan request and
help to understand the next step to take. It's important to find out where you stand.
If you have experienced a loan
denial and are seeking assistance, complete the form below to help us help you,
to identify solutions for overcoming your loan denial.
Loan Denial Assistance Services Request Form
Complete the requested information and submit, and a Credit Assistance Coordinator will contact you for follow-up.
Company Contact Information (*required information)
*Company:
*Contact Person's Email :
Loan Denial Information
What financial institution or credit grantor denied your loan request?
Tell us the you believe your business loan request was denied? (Check all that apply. If you don't know, indicate unknown below)*
What actions have you taken to overcome the denial?
Do you have a personal credit report, dated within the last 60 days?
Yes No
Select the answer that approximates the owner's Fico Score:
Company's Financial Information - Tell us About your company's financial operations:
What were your company's gross revenues over the past three years? (enter $0, if the company was not in business)
*Gross Revenue -Year 1 ( Last Year):
*Gross Revenue- Year 2 (2 yrs ago):
*Gross Revenue- Year 3 (3 yrs ago):
Do you have any business debts that your are paying for personally? Yes No
Are you registered with Dun & Bradstreet: Yes No
Do you sell goods or services on terms to your customers, resulting in outstanding accounts receivable balances due to your company?
Yes No
If so, what is the typical balance of accounts receivable due to you?
Overcoming Loan Denial & Credit Obstacles Requires 4 steps:
