Why was my application declined/rejected?

We review every application carefully. But sometimes, we still have to say no.

It's usually due to rules and regulations we have to follow, and limits in what we can support.

Common reasons include:

Your business structure is too complex – If ownership is hard to verify, like multiple parent companies, trusts, or layered entities, we may not be able to approve it.

Past account issues – If you’ve had accounts closed for things like repeated overdrafts or unpaid negative balances, that can affect your application.

Your business isn’t a fit – Some industries fall outside what we can support due to legal and regulatory requirements. [link to: Why can't certain types of businesses use Novo? FAQ]

We also use a mix of internal reviews and third-party tools.

But the final decision comes down to whether we can support your business in our system.

A few things to know:
We don’t check your credit
A denial won’t impact your credit
We can’t always share the exact reason for a decision

We know this isn’t the outcome you wanted. In some cases, it’s not about your business—it’s about what we’re able to support right now.