Credicorp lends to both UK private limited companies (Ltd) and limited liability partnerships (LLPs). The application is broadly the same for either, but a few details differ because the two structures are set up differently at Companies House.
What's the same
- The loan is to the business, not to any individual. We do not take personal guarantees from directors or members.
- You'll need your Companies House registration number and details of who is applying.
- We look at trading activity, how money moves through the business, and the purpose of the funds.
- Both Credicorp Flex and Credicorp Slice are available, and the rate and term appear in your offer.
What differs
A limited company is owned by shareholders and run by directors, so we identify the directors and significant shareholders. An LLP is run by its members, so we identify the members, including designated members. The person who starts the application should have authority to take on borrowing for that structure.
Outside the consumer regime
Whichever structure you use, this is exempt business lending. It is not covered by the Financial Ombudsman Service or FSCS. Sole traders and individuals cannot borrow from us, because we only lend to incorporated businesses. If you are unsure which structure your business uses, your Companies House record or your accountant can confirm it.
See also: What information should I have ready before I start?, Who can hold a Credicorp account?, Why do you check Companies House details?.