Searching for business finance can surface dozens of providers, and comparing all of them in depth is impractical. A short, structured process turns an overwhelming list into a manageable shortlist of two or three options you can examine properly.
Step one: define the need
Write down what the money is for, roughly how much you need, and over what period you expect to repay. This single sentence rules out a surprising number of providers straight away.
Step two: filter on eligibility
Remove any lender whose criteria you clearly do not meet. There is no point comparing a facility you cannot access. Credicorp, for example, lends only to UK limited companies and LLPs for business purposes.
Step three: filter on structure
Keep those whose repayment shape, flexible or fixed, suits your cash flow. Drop the ones that would fight against how money moves through your business.
Step four: compare the finalists
- Total amount repayable across the term.
- Early-repayment terms.
- Whether anything is secured or guaranteed.
- Who you contract with and how they handle difficulty.
Then decide
By this point you are comparing a few genuinely viable, suitable options on the things that matter, rather than drowning in a long list. If Credicorp is on your shortlist, the cost and term that apply to you will be set out clearly in your offer.
See also: A simple framework for comparing business finance options, How to compare early repayment terms across lenders and Red flags to watch for when comparing business lenders.