Owners of small- and medium-sized businesses have about a 50-50 chance of success with an application for credit, according to market researcher East & Partners.Twenty-three per cent of respondents to an East & Partners survey of the SME market (those with a turnover of A$1 million to $20 million a year) in January said they had applied for new or extended credit lines in the previous 12 months.Of these, 44 per cent said their application was unsuccessful. In 10.9 per cent of these cases the lender declined without giving a reason; in 14.5 per cent of cases the lender said there was inadequate security; and in 16.4 per cent of cases the lender said there were serviceability barriers.In 18.2 per cent of the cases the borrower withdrew the application because the price was too high; in 21.8 per cent of cases the borrower withdrew because the terms and conditions were unacceptable; and in 14.6 per cent of cases the borrower withdrew because the credit application process took too long.East & Partners' chief executive, Paul Dowling, said: "We see a large number that walk away because the extent of documentation required and the interrogation is too hard. It can be intensely time-consuming and takes discipline. "What banks are saying is that SMEs need to have a professional business proposal in place. They are looking for SMEs that can present in a business-like manner, give a coherent description of their business plan and be clear about what they intend to do with the funds they are seeking."