"What kind of lender are you?" is a fair first question, and the answer shapes everything else about how we work. In short: we are a direct business lender to UK companies, not a broker and not a consumer lender. Here is what that means in practice, and what it deliberately rules out.
A direct lender, not a broker
We lend our own money and make our own decisions. There is no panel of lenders behind us and no broker in the middle, which is part of why decisions are quick and why every figure comes straight from us. When you deal with Credicorp, you are dealing with the lender.
A business lender, to companies
We lend only to UK limited companies and LLPs — bodies corporate — for genuine business purposes. The company is the borrower. We do not lend to sole traders, ordinary partnerships, or individuals, and we do not offer personal loans of any kind. See who is eligible to borrow and what a body corporate is.
No personal guarantee
The director who signs is not personally liable. We do not take a personal guarantee, and we take no charge over a home or personal savings, so the borrowing is not a personal debt on the director's own credit file. See what a personal guarantee is.
Outside FCA consumer-credit regulation
Because we lend to a company for business purposes, this is not regulated consumer credit. A body corporate is not an "individual" or a "relevant recipient of credit" under Articles 60B and 60L of the FSMA Regulated Activities Order 2001, so the agreement falls outside FCA consumer-credit regulation, and the product is not covered by the Financial Ombudsman Service or the FSCS. That is an honest limit, not a selling point — we run our own internal complaints process instead. See what FOS and FSCS cover and what the FCA reference means.
How we are different from a payday or consumer lender
- The company borrows, for business reasons — not a person for personal spending.
- There is no personal guarantee and nothing secured on your home.
- The total cost of a single loan is capped at 100% of what you borrow — you never repay more than double — and there is no penalty-rate uplift if you fall behind.
- We assess the company's affordability and lend responsibly, sometimes offering less than asked, or declining, when that is the right call.
Not the overseas "Credicorp" firms
We are a UK company and are not connected with Credicorp in Peru (NYSE: BAP), Credit Corp Group in Australia (ASX: CCP), or any similarly named business abroad — see the disambiguation article. For our products, see business loans, and for the philosophy behind our decisions, how we lend.