No, that is certainly not a reason for a site to be rejected. I can't imagine it would ever be a reason for a site to be reviewed either sooner or later either.
[In general, of course the URL can suggest of spam (
www.used-cars-for-u-now.ru) or of honest business (
www.smith-reeves-farm.co.uk) but there's very little information inherent one way or another in an ".es" domain for a specific business.]
More likely reasons would be
(1) the site wasn't regarded as having significant unique information (as is common for marketing sites). [Note that the uniquely authoritative site for "official information about a service" can only be the person who provides the service--only he KNOWS exactly what he'll do for money. For UNOFFICIAL information, the only source worth considering would be people who have received that service--whether on their own website, or on a website which had its own kind of authority to vouch for those reviews.]
(2) The site appeared appeared (to a cursory glance) "primarily intended to drive commercial traffic to other sites" (as is not unknown for webdesigners who usually do marketing sites, and aren't used to doing sites for honest businesses.)
(3) the topic hadn't yet found a surfer interested enough to review all possible sites related to it, and so this site is still waiting review.