First thing's first, you need to be able to pinpoint your misstep to correct it in the future. Most lenders will give you the reason that your application was denied and it is usually one of two issues:
Low FICO Score
Not enough revenue
Before lending to a small business, just like any loan, they want to ensure that you have a solid history of repaying your debts on time and in full. If your business and personal credit scores are less-than-stellar, lenders will perceive you as a risky investment.
Additionally, lenders want to know that borrowers can make the minimum monthly payments on the small business loan. This is where your business' cash flow comes into effect - they'll calculate your debt to income ratio to see how you would be able to handle the monthly payments.