No. A short-term Business Loan does not need a formal written business plan. This is working-capital finance for a near-term, specific purpose, not project or venture funding, so the assessment is about affordability and purpose rather than a multi-year plan.
What we look at instead
We read the company's cash flow from its connected bank account, check the business credit picture, and confirm the finance is for a genuine business purpose. A plan document is not part of that. What helps far more than a plan is a clear, honest answer to "what is this for and how will the business repay it" — see what counts as a business purpose and why we need to know what the finance is for.
A high-street bank offering a large multi-year facility may well want a plan and forecasts. A short-term Credicorp Business Loan is a different product with a different, lighter assessment — that is part of what makes the application quick.
If you want to think it through
Even without a formal plan, it is worth being clear in your own mind about the repayment. The planners and calculators at Credicorp Tools let you sketch the numbers, and the guides at Credicorp Learn cover how to weigh up short-term borrowing.
When you are ready, run the quick pre-application checklist and apply.
We lend only to UK limited companies and LLPs, the loan is to the company with no director personal guarantee, and this is business finance outside the consumer-credit regime — as an exempt lender under Article 60B of the Regulated Activities Order we sit outside FCA consumer-credit regulation, so the Financial Ombudsman Service and FSCS do not apply.
See also: What counts as a business purpose?, Why we need to know what the finance is for?, What should I have ready before I start an application?.