It is sensible to ask how an application affects your company's credit profile before you apply. Here is a straightforward answer for limited companies and LLPs.
What is recorded
When we assess an application we may carry out a business credit search, and that can be recorded against the company. We will tell you the type of search before we run it so there are no surprises.
What is not affected
- Nothing is recorded against any director personally; we take no personal guarantees
- Asking us a question or getting general guidance does not trigger a search
Once you borrow
If you take up an offer, how the company manages the borrowing can become part of its credit picture over time. Meeting repayments on time supports a healthy business credit profile, while missed payments can do the opposite.
Apply with intent
Because a search may be recorded, it is worth applying when you genuinely intend to borrow and have chosen an amount that fits your trading.
Credicorp is an exempt business lender to UK companies and LLPs only. The Financial Ombudsman Service and FSCS do not apply.
See also: Will applying affect my company's credit profile?, Will applying for a Credicorp loan affect my credit file?, Does a director's personal credit affect the decision if there is no personal guarantee?.