Accepting your offer is the point at which your company commits to the finance. Up to then, nothing is binding. Once you accept, we move into setting the facility up so your business can use it.
Confirming the agreement
You confirm acceptance of the offer, which sets out the rate, term and repayments specific to your business. Because the borrower is the company, the agreement is between Credicorp and your limited company or LLP, and no director personal guarantee is taken.
Setting up the facility
- We finalise the details and prepare the account
- We confirm where funds will be sent, normally your company's business account
- We set out how and when repayments will be collected
Receiving the funds
Once setup is complete, we arrange for the funds to reach your business. The exact timing depends on the product and your bank.
Managing the account
From there you can manage the facility through your account, where you will find your statements and repayment details. If anything changes for your business, contact us early.
This is business finance outside the consumer-credit regime, so it is not covered by the Financial Ombudsman Service or FSCS.
See also: What happens after you accept an offer, I have an offer but don't want to go ahead — what now?, Why might an application be declined?.