Many established trades businesses run through a limited company, whether that is an electrical contractor, a plumbing and heating firm, a roofing outfit or a multi-trade maintenance company. If your business is incorporated, Credicorp may be able to lend to it for business purposes.
The eligibility line
We lend to UK limited companies and LLPs only. We cannot lend to a sole trader or an individual, even where that person runs a trade. The loan is to the company, and we do not ask directors to give personal guarantees.
Common uses in the trades
- Stocking up on materials at the start of a bigger contract
- Replacing or upgrading tools, test equipment and vans
- Covering wages and subcontractor costs while invoices are outstanding
- Taking on a larger job than your current cash position would normally allow
Which product fits
If your work comes in waves and you want to draw funds as each job lands, Credicorp Flex gives you that flexibility. If you have a single, sized cost in mind, Credicorp Slice provides one amount. Either way, the rate and the term are the ones shown in your offer.
Worth knowing
This is business lending outside the FCA consumer-credit regime. That means the Financial Ombudsman Service and FSCS protections do not apply. Our support team can walk you through what a facility would mean for your company before you commit.
See also: Funding equipment and plant costs, Funding for UK manufacturing companies, Funding for e-commerce businesses.