Business loans can be written off, but it will be a very reluctant action by any lender and only taken after all other options have been investigated, including realising any security or even selling the loan on to another lender. You could find the fact that your business had a loan that was written off will follow you around in future. If you have a loan that you can't repay, we recommend seeking professional advice from an accountant or insolvency practitioner at the earliest possible opportunity.