Accepting your Credicorp loan offer triggers a short sequence of steps before funds land in your company's account. This guide walks through what happens so you know what to expect and how quickly each stage moves.
Signing the documents
After you accept the offer in the portal, you will be presented with two documents to sign electronically:
- Business Loan Agreement — the legally binding contract setting out the loan amount, total cost, repayment schedule, and the terms and conditions that govern the facility.
- Business Purpose Declaration — a short statement confirming that the loan is being taken out for the purposes of your company's business activity, not for personal expenditure.
Both documents are signed within the portal using an electronic signature. You do not need to print, scan, or post anything. Copies are immediately available to download from your account and are also emailed to you. For guidance on reading the agreement documents, see how to understand your Credicorp Business Loan Agreement.
Funds transfer
Once both documents are signed and any final verification checks are complete, we arrange the bank transfer of the loan amount to the business bank account you provided during your application. We aim to send funds on the same business day when your application is fully complete, though the time funds appear in your account depends on your bank's processing times. We transfer via standard UK bank payment — there are no additional charges for the transfer itself.
Your repayment schedule starts
Your repayment dates are fixed at the point of signing and shown in your Business Loan Agreement and on your Key Information Sheet (KIS). Payments are collected automatically on those dates. You do not need to set up a separate standing order — the collection method is agreed as part of the application process. If a payment date falls on a bank holiday or weekend, your agreement will specify how that is handled. If you need to discuss a payment date ahead of time, contact our team early — we would rather help you plan than deal with a missed payment. See what to do if you cannot make a repayment for options available to you.
We lend only to UK limited companies and LLPs, and the loan is to the company with no director personal guarantee. As business finance outside the consumer-credit regime, it is not covered by the Financial Ombudsman Service or FSCS.
See also: How to understand your Credicorp Business Loan Agreement, What to do if you cannot make a repayment on your Credicorp loan.