Business loan declined by 365 Business Finance, what next?
365 Business Finance has declined your merchant cash advance application. 365 offers revenue-based finance of up to £500,000 (per its own site) and may look case by case at credit issues some mainstream lenders decline, so a 365 decline often means looking at specialist post-decline or asset-backed alternatives.
Why this triggers a decline
365 doesn't publish detailed eligibility thresholds or how often each decline reason occurs. Common reasons an MCA provider like 365 declines include: card or bank turnover too low for the amount asked for, a short trading history, recent unsatisfied CCJs, HMRC enforcement or VAT arrears without a Time to Pay arrangement, a very recent change of director, a sector it doesn't fund, and problems on a previous 365 facility.
Alternatives that work
- Capify for a short-term business loan instead of an advance
- Liberis for retail and hospitality card-flow MCA
- YouLend for marketplace and gateway flow
- Asset finance against specific equipment
- Specialist post-decline lenders for harder cases
Lenders that may consider this
- Capify (short-term business loans)
- Liberis (card-flow MCA)
- YouLend (marketplace and gateway flow including Amazon, Shopify, eBay)
- Bizcap (specialist post-decline)
- JPM Capital (specialist post-decline)
What to do first
- Ask 365 for the main reason for the decline.
- If the issue is HMRC arrears, agree a Time to Pay with HMRC and document the arrangement before approaching alternatives.
- If the issue is a recent director change, ask the lender how long it would expect before a new application.
- If the issue is a recent CCJ, check whether it's satisfied; look at a short-term lender such as Capify or a specialist post-decline lender if not.
- If the issue is card-flow volume, build 60 to 90 days of stronger flow before reapplying.
Not for
Active CVA, undischarged IVA, sanctioned beneficial owner, or sole-trader applicants (the FundBiz enquiry form is for limited companies, LLPs and partnerships with four or more partners).
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