A Credicorp Business Loan carries no director personal guarantee, but many other forms of business finance do. If your company has given guarantees elsewhere, they matter in difficulty.
Know where your guarantees are
Make a list of every business debt that carries a personal guarantee — bank loans, leases, supplier accounts. These are the debts where the director's personal position is genuinely at risk, unlike your loan with us.
Deal with guaranteed debts carefully
Because a personal guarantee exposes the director, guaranteed debts deserve particular attention and often specialist advice. Do not let a difficulty with a non-guaranteed debt distract from a guaranteed one that carries personal risk.
Take advice on the whole picture
A debt adviser or insolvency practitioner can help you weigh guaranteed against non-guaranteed debts and protect your personal position appropriately.
Understanding which debts carry personal risk helps you prioritise wisely — Business Debtline gives free, confidential debt advice to small businesses and the self-employed at businessdebtline.org or on 0800 197 6026.
We lend only to UK limited companies and LLPs, and the loan is to the company with no director personal guarantee. As business finance outside the consumer-credit regime, it is not covered by the Financial Ombudsman Service or FSCS.
See also: Does a director's personal credit get touched by company arrears?, How business-loan difficulty differs from personal debt, A director's legal duties when money is tight.