An offer from Credicorp is not a commitment. If you decide the borrowing is not right for your business, you do not have to accept it. You can let the offer lapse or tell us you do not wish to proceed.
You're in control until you accept
Until you formally accept an offer, nothing is drawn down and your company or LLP takes on no obligation. There is no penalty for declining an offer you have been given.
- You can let the offer expire without doing anything.
- You can tell us directly that you are declining it.
- You can ask questions first if something is unclear.
If you might want it later
Offers are time-limited, so an offer you decline now may not be available later on the same terms. If your circumstances change, you can apply again, and any future offer will reflect the position at that time, with the rate and term shown in that offer.
Good to know
Because the loan would be to your company or LLP and we take no personal guarantees, declining an offer has no personal consequences for directors or members. This is exempt business lending and is not covered by the Financial Ombudsman Service or FSCS. If you are hesitating because of the cost, look closely at the figures in your offer before deciding.
See also: Why don't you take a personal guarantee from directors?, What happens after I accept my offer?, How to read your offer document before you accept.