One of the most common question after one has been denied for a loan is how long should it take before applying for another loan. The answer depends on your circumstances. Generally, you can apply for a loan immediately after rejection, you just have to choose another lender.
However, don't rush to re-apply. Too many loan applications can hurt your credit score. Act carefully and follow these steps before you attempt to apply for the second time.
Step 1: Understand why the loan was rejected - this could be due to bankruptcy, lack of income, poor credit score, age limits, etc.
You can apply for a loan again with confidence - but avoid making errors in your submissions.