When you look for business finance you will meet two very different kinds of company: lenders and brokers. They do different jobs, and knowing which one you are talking to helps you understand who actually holds your agreement.
What a lender does
A lender provides the money itself. It assesses your application, makes the credit decision, sets out the offer, and holds the agreement. When you repay, you repay the lender directly. Credicorp is a lender. The agreement is between your company and us, and we manage your account from start to finish.
What a broker does
A broker does not lend its own money. It introduces you to one or more lenders, often comparing options on your behalf, and may earn a commission for the introduction. The agreement you sign is still with whichever lender ultimately funds you, not with the broker.
Why it matters to you
- Who decides: with a lender, the lender makes the decision. A broker only forwards your details.
- Who you pay: you repay the lender, never the broker.
- Who to contact: for account questions, you contact the lender that holds the agreement.
- Costs: a broker may charge a fee or take commission; a direct lender does not have that layer.
Because Credicorp lends directly, there is no introducer between you and us. You apply to us, we decide, and you deal with us throughout the life of the agreement.
See also: Direct lender vs broker: which should you use?, How lenders assess a business loan application, Understanding the total cost of credit.