As your company grows, more than one person may touch the borrowing facility. Setting up clear access and simple internal controls keeps things both efficient and safe, so the convenience of self-service never becomes a weak point.
Decide who needs access, and to what
Not everyone who works in finance needs the ability to do everything. Separate the people who view statements and reconcile from the people authorised to request drawdowns or change bank details. Match portal access to what each role genuinely needs.
Sensible internal controls
- Keep an up-to-date list of who has access and why.
- Remove access promptly when someone changes role or leaves.
- Treat changes to bank details as a controlled, verified step.
- Review the access list periodically rather than never.
Authorisation still matters
Accepting an offer, and other commitments that bind the company, should come from someone authorised to do so. Day-to-day administration can be delegated, but the company should always know who can commit it.
Credicorp lends only to UK limited companies and LLPs for business purposes. The facility is to the company, and we do not take personal guarantees from directors. As an exempt business lender, we are outside the FCA consumer-credit regime, so the Financial Ombudsman Service and FSCS do not apply.
See also: Managing who can access your company account, Keeping your company details current with us during the term, Keeping clean records of your facility for your accountant.