Yes. An accountancy or bookkeeping practice can borrow from Credicorp as long as it is constituted as a UK limited company or LLP and the funds are used for business purposes. We do not lend to individuals or sole-trader practices, and we lend directly as the lender rather than acting as a broker.
Why practices borrow
Accountancy is a seasonal business. Workload and cash concentrate around year-end, self-assessment and corporation-tax deadlines, then thin out. Borrowing can carry the practice through quieter months or fund growth that the busy season alone will not pay for in time.
- Hiring or training staff ahead of filing season
- Buying or upgrading practice and tax software, or moving to the cloud
- Funding the acquisition of a client book or a smaller practice
- Smoothing your own PAYE, VAT and corporation-tax payments
What to expect
You can choose between Credicorp Flex and Credicorp Slice depending on how you want to draw and repay. The loan sits with the company or LLP, not with the partners personally, and we take no personal guarantees. The rate, fees and term are those set out in your offer.
As an exempt business lender, Credicorp operates outside the consumer-credit regime, so the Financial Ombudsman Service and FSCS cover do not apply to this borrowing. Your account team can explain the documents before you commit.
See also: What is a business loan?, Funding for tech startups without personal guarantees, Funding for management and IT consultancies.