When Credicorp makes your company an offer, that document is the agreement that will govern the facility. It is worth reading it slowly and fully before anyone with authority accepts on the company's behalf. Nothing on this help site overrides what your own offer says.
What to look for
- The rate shown in your offer and how it is expressed.
- Your agreed term and the repayment schedule that flows from it.
- Any fees, when they apply, and whether they are one-off or recurring.
- How and when interest accrues for the product you have chosen.
- What happens if a payment is missed or late.
Confirm the basics are right
Check the legal name of the borrowing entity, the company registration number, and the registered office. The borrower must be a UK limited company or LLP, and the borrowing must be for business purposes. Make sure the figures and dates match what you discussed.
Who can accept
Acceptance should come from someone authorised to bind the company. The loan is to the company, and we do not take personal guarantees from directors.
If something is unclear
Ask before you sign, not after. We would always rather answer a question up front. Remember that as an exempt business lender we sit outside the FCA consumer-credit regime, so the Financial Ombudsman Service and FSCS do not apply to this agreement.
See also: Forecasting what your borrowing will cost over the term, Common mistakes to avoid with business borrowing, Should you repay early or keep the facility running?.