Commercial credit reference agencies hold records of how UK businesses manage credit and other financial obligations. Credicorp uses this data as part of the underwriting process for Business Loans, Flex facilities, and Slice applications. Here is how that works in practice.
What we search for
- County Court Judgements (CCJs) registered against the company or its directors
- Existing credit facilities, outstanding balances, and repayment conduct
- Adverse public records, including winding-up petitions and insolvency history
- Trade payment data showing how promptly the company settles supplier invoices
How searches affect your credit file
At the application stage we typically perform a soft search that does not leave a visible footprint on your company's credit file and cannot be seen by other lenders. If you proceed to a formal offer and draw down, we may record a hard search and report the facility to the relevant agency. We will tell you clearly at the point this is about to happen.
Reporting your account conduct
Once a facility is live, we report payment conduct to the credit reference agencies we work with. Consistent, on-time repayments can strengthen your company's commercial credit profile over time. Missed or late payments may be recorded and could affect your company's ability to obtain credit elsewhere.
If you believe data held about your company at a credit reference agency is inaccurate, you should contact that agency directly — they are obliged under UK GDPR to investigate and correct errors.
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: What data Credicorp collects from your business, Who Credicorp shares your business data with.