Outgrowing your current unit is a good problem to have, but moving up to larger premises front-loads a lot of cost. Before you trade a single day from the new space, a landlord will usually want a deposit — often several months' rent — plus the first month upfront, agent and legal fees, and the cost of the move itself. A Credicorp facility can fund that opening phase so the deposit on a bigger, better-located unit doesn't have to come straight out of your trading cash.
What this covers — and what it doesn't
This is about the working-capital side of a move: the leasehold deposit, first-month rent, business rates that fall due on day one, and the dilapidations or admin costs of taking on a new lease. It is not property finance. Credicorp does not provide a mortgage or any secured loan against property — we are an unsecured business lender, so if you are buying a building outright you will need a commercial mortgage from a property lender instead.
Costs a move-up deposit facility can cover
- Leasehold deposit and first-month rent on the new unit.
- Agent, legal and lease-completion fees.
- Removal costs and the gap where you may be paying two rents during a short overlap.
- The opening business-rates charge on the larger space.
How it works
You apply as a UK limited company or LLP for the business purpose of relocating. If we make an offer, you draw the funds to place the deposit and clear the upfront costs, then repay over the agreed term at the rate shown in your offer document — set after underwriting rather than quoted in advance. Credicorp Slice suits a single, defined upfront cost; Credicorp Flex helps where the spending lands in stages across the move.
Plan around the move
A deposit is recoverable in principle, but it is tied up for the length of the lease, so treat it as money out for cash-flow purposes. Match repayments to how quickly the larger premises is expected to pay for itself, and keep some working-capital headroom for the first few trading months in the new space. Costing the whole move in one go — rather than the deposit alone — usually avoids coming back for more midway through.
For related guidance, see funding expansion into a second site or location, funding the fit-out of a new business location, funding a deposit to secure a supplier order, and funding business rates and rent.
The loan sits with the company, and we take no personal guarantee from directors. As an exempt business lender outside the FCA consumer-credit regime, Credicorp facilities are not covered by the Financial Ombudsman Service or FSCS. To talk an upcoming move through, get in touch via contact us.
See also: Can business finance help bridge a short-term cashflow gap?, Bridging a late CIS or VAT refund, Bridging an R&D tax credit claim.