Equipment is the backbone of physical-sector businesses. Construction needs plant, trades need tools and test gear, manufacturers need machinery, and transport firms need vehicles. These are large, lumpy costs, and they often need replacing or repairing at the least convenient moment. Credicorp lends to incorporated businesses for these purposes.
Planned and unplanned costs
Some equipment spend you can see coming, such as adding a machine to meet new demand. Other costs arrive without warning, like a critical breakdown that halts a job. Both can strain cash, and both are valid reasons a company looks for funding.
How the products help
- Credicorp Flex lets you draw for an urgent repair or a planned upgrade as the need arises
- Credicorp Slice provides a single amount for one defined equipment cost
- The rate and term are those set out in your offer
A note on what we are
Credicorp provides funding you can use for equipment-related business costs; we are the lender, not an equipment supplier or an asset-finance broker. How you use an approved facility within your business is your decision.
Eligibility
We lend to UK limited companies and LLPs only, never to sole traders or individuals, and we take no personal guarantees from directors. This is business lending outside the FCA consumer-credit regime, so FOS and FSCS do not apply.
See also: Funding for transport and logistics companies, Can I use a loan to buy new equipment for my company? and Financing materials and stock purchases.