When a machine that your business depends on fails, every day it is down can cost you orders, customers, and reputation. If you do not have the cash to replace it immediately, borrowing can be the difference between a brief interruption and a serious loss of trade. A Credicorp loan can fund an urgent replacement so you get back to work quickly.
Move fast, but don't skip the basics
Urgency is a poor reason to overpay. Even under pressure, take a moment to compare a like-for-like replacement against an upgrade that might prevent future breakdowns. Weigh the cost of the funding, at the rate shown in your offer, against the revenue you lose for each day you stay offline.
Reduce the chance of a repeat
- Consider a model with a stronger service or warranty package.
- Build a small maintenance reserve once trading recovers.
- Keep a note of lead times so you know your exposure on critical kit.
Terms of borrowing
Credicorp lends only to UK limited companies and LLPs for business purposes. The loan is to the company, with no personal guarantees from directors. Credicorp Slice is well suited to a single urgent purchase; repay over your agreed term.
Credicorp is an exempt business lender outside the FCA consumer-credit regime, so the Financial Ombudsman Service and FSCS do not apply.
See also: Funding a one-off stock clearance or supplier buy-out, Funding an urgent equipment repair or replacement and Funding energy-efficiency upgrades to your premises.