Both Credicorp and Funding Circle lend to UK limited companies, but they operate differently. Here is a neutral comparison to help you assess which may suit your business.
Details about other lenders are based on publicly available information and may change. Always verify current terms directly with any lender before applying.
How each lender operates
Credicorp is a direct balance-sheet lender — it lends its own capital and makes its own credit decisions. It does not use a marketplace or third-party investors.
Funding Circle started as a peer-to-peer (P2P) platform matching investor funds to business borrowers, and has evolved to include institutional funding. It operates as a marketplace lender.
Eligibility
Credicorp requires: UK limited company or LLP, minimum trading history (typically 12 months), and a live business bank account. It does not lend to sole traders.
Funding Circle requires: UK limited company, partnership or sole trader, with typically 2 or more years of trading history and filed accounts. Minimum annual turnover thresholds apply.
Products
Credicorp: term loans, Flex (revolving credit facility), and Slice (bill-spreading product). All are unsecured with no personal guarantee.
Funding Circle: term loans and FlexiPay (invoice and card payments). Personal guarantees may be required depending on the loan size.
Speed
Credicorp: typically one business day for an initial decision, with funds usually available within 1–2 business days of signing.
Funding Circle: typically several days to a few weeks, depending on documentation requirements and loan size.
Security and guarantees
Credicorp: fully unsecured — no personal guarantee, no charge over assets. The loan is to the company.
Funding Circle: personal guarantees may be required depending on loan size and circumstances.
Which to consider
Funding Circle may suit companies with a longer trading history seeking larger amounts with more flexibility on structure. Credicorp may be better suited to companies wanting a fast, fully unsecured facility without a personal guarantee, or those seeking a revolving credit product rather than a one-off term loan.
See also: Comparing iwoca, Cubefunder, Capify and Credicorp, Credicorp vs peer-to-peer business lending, Direct lender vs broker.