Once you submit your application, Credicorp assesses your company using a combination of automated systems and, where needed, a manual review by a member of our team. Here is what that process looks like from the inside.
The data sources we assess
We draw on several data points to build a picture of your company's position:
- Business bank transactions — provided via Open Banking or uploaded statements; we look at income regularity, average balances, and existing payment obligations (illustrative, not a quote of any specific threshold).
- Companies House data — company age, filing history, current officer details, and any charges registered against the company.
- Business credit data — a check with a commercial credit reference agency. This is a business check and does not affect your personal credit file.
- Identity and anti-money-laundering checks — an AML check on the applying director to satisfy our legal obligations under the Money Laundering Regulations.
- Affordability assessment — we model whether the repayment schedule is sustainable given your company's observable cash flow.
Automated versus manual decisions
Most applications receive an automated decision within a few minutes of submission. If our systems flag something that requires a human to review — for example, an unusual filing pattern or data that is ambiguous — your application moves to a manual queue. Manual reviews typically complete within one business day. We will contact you by email either way, so you do not need to keep checking the portal.
What happens if we cannot lend
If we are unable to offer your company a loan at this time, we will tell you clearly by email. We will state the main reason where we are permitted to do so. We do not leave applications open indefinitely. You are free to reapply in the future if your company's circumstances change, though repeated applications in a short period are unlikely to produce a different outcome unless something material has changed. For a fuller picture of what influences the offer you receive, see what factors affect the loan offer Credicorp makes to your company.
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: How Open Banking is used in your Credicorp application, What factors affect the loan offer Credicorp makes to your company?, How Credicorp verifies your business identity and bank account.