A previous decline does not permanently bar your business from borrowing with Credicorp. We keep records of past applications, but each new application is assessed on your business's position at the time you apply, not just on what happened before.
How we treat your history
We do keep a record of earlier applications and decisions, which is normal and required. But a fresh, well-prepared application that shows genuine change in your trading can lead to a different outcome. The earlier decision is context, not a fixed verdict.
- Let your trading position move on before you re-apply.
- Keep your Companies House details accurate.
- Be honest and consistent across applications.
What we don't want to see
Resubmitting the same request repeatedly with no change does not help and tends to repeat the same result. A considered second application after real progress is far more likely to succeed. If you are approved, the rate and term are shown in your offer.
Good to know
We do not take personal guarantees from directors or members. This is exempt business lending, outside the FCA consumer regime, so it is not covered by the Financial Ombudsman Service or FSCS. You can ask us about the information we hold on your business at any time.
See also: Can a company with arrears elsewhere still apply?, How do multiple applications affect each other? and Bridging loan, term loan, or credit facility: what's the difference?.