Credicorp lends only to UK limited companies and limited liability partnerships, and only for genuine business purposes. When you apply, we look at your company as a whole rather than at any individual director's personal credit position.
What we consider
Our assessment is built around how your business actually operates and how it is likely to manage repayments on the product you have chosen, whether that is Credicorp Flex or Credicorp Slice.
- How long the company has traded and the sector it operates in
- Patterns in turnover, cash flow and seasonality
- The company's existing commitments and how they are serviced
- The purpose of the funding and how it fits the business
Why decisions vary
No two businesses are identical, so two companies applying for similar funding can receive different outcomes or different terms. The rate and term you see are always the ones set out in your specific offer, based on your company's circumstances.
What we don't do
We do not take personal guarantees from directors, and we do not lend to individuals or sole traders. Because this is exempt business lending, it sits outside the FCA consumer-credit regime, which means the Financial Ombudsman Service and FSCS protection do not apply.
If a decision isn't what you hoped for, you're welcome to contact us to understand the reasoning and discuss whether a different approach might suit your business better.
See also: Does Credicorp lend to sole traders or individuals?, Funding for UK retail companies, What does it mean that Credicorp is an exempt business lender?.