A holding company, or a trading company that sits within a group, can apply to Credicorp. The important point is that the borrower must be a single, named UK limited company or LLP, and the borrowing must be for that entity's genuine business purposes.
Apply as the right entity
Make sure you apply in the name of the company that will actually use the funds and be responsible for repaying. Mixing up a parent and a subsidiary can slow things down, because the application details need to match the Companies House record of the borrowing entity.
- Use the registration number of the specific company that is borrowing.
- List the directors or members of that entity, not the wider group.
- Be clear about how that company will use the funds.
What we look at within a group
We consider the trading activity and money movement of the applying entity. A pure holding company with no trading activity of its own may have less to show than an operating subsidiary, so think about which entity is the natural borrower.
Good to know
We do not take personal guarantees from directors or members. This is exempt business lending and is not covered by the Financial Ombudsman Service or FSCS. If you are unsure which group entity should apply, your accountant can help you decide before you start.
For nearby eligibility questions, see which business types can apply, why we check Companies House and what information to prepare before applying.
See also: Can a newly formed company apply?, Can a charity or charitable company apply?, Can a CIC or community interest company apply?.