Most applications that stall do so for ordinary, fixable reasons. Knowing them in advance means you can apply once, cleanly, and get to a decision sooner.
Details that do not match
If your company name, registered office or director details differ from Companies House, it raises questions and slows verification. Check your record is current before you start.
Applying as the wrong entity
Credicorp lends only to UK limited companies and LLPs for business purposes. Applications from individuals or sole traders, or for personal use, cannot proceed. Make sure you are applying as the company and for a genuine business purpose.
A vague or missing purpose
"General cash flow" tells us little. A clear, specific purpose — what the funds do and why now — strengthens the application and helps you borrow the right amount.
Using the wrong bank account
- Showing personal activity instead of the company account.
- Not being able to access recent statements or connect via open banking.
- Large, unexplained movements with no context.
Rushing the offer
When an offer arrives, read the rate, term and any charges before accepting. These figures are specific to your application — do not assume them. And remember these agreements sit outside the FCA consumer-credit regime, so there is no Financial Ombudsman Service or FSCS cover, and we take no personal guarantee from directors.
See also: How to prepare your company before you apply, Can my business apply? The eligibility basics, Can my company have more than one Credicorp loan?.