Many founders are wary of debt because traditional facilities can put a personal guarantee on the line — your home or savings standing behind the company's borrowing. Credicorp takes no personal guarantees from directors. The loan is to the company, and that is a deliberate part of how we work with technology businesses.
What no personal guarantee means
It means the obligation to repay sits with the limited company or LLP that borrows, not with you as an individual. We assess the company's affordability and prospects, not your personal balance sheet. If you have only ever seen guarantee-backed lending, this is a genuinely different footing.
- Funding product development, hires or go-to-market spend
- Extending runway between funding rounds
- Smoothing cash while early revenue stabilises
- Investing in infrastructure or security work needed to win larger customers
The trade-off to understand
Because we lend to the company on the company's merits, we look carefully at affordability before we offer. That protects you from borrowing the business cannot sustain. Credicorp Flex and Credicorp Slice are both available, with the rate and term set out in your offer.
Credicorp is an exempt business lender outside the consumer-credit regime, so the Financial Ombudsman Service and FSCS protection do not apply. We lend only to UK limited companies and LLPs, never to individuals.
See also: Funding for SaaS and subscription businesses, Funding for trades businesses run through a limited company, Funding for UK manufacturing companies.