Because Credicorp lends to businesses for business purposes, our agreements fall outside the FCA consumer-credit regime. A common worry is that this leaves a company with no protection at all. That is not the case. Several frameworks still apply.
What does not apply
- The Financial Ombudsman Service does not handle disputes about these agreements.
- The Financial Services Compensation Scheme does not cover them.
We say this plainly because you should know it before you borrow, not afterwards.
What still protects you
- Contract law: the agreement is a binding contract, and we are held to its terms just as you are.
- Transparency before you sign: you receive a Key Information Sheet and an offer setting out the full cost and terms.
- Data protection: UK GDPR governs how we handle your information, with rights you can exercise.
- Our own conduct standards: we set out how we treat customers, including those in difficulty, and we hold ourselves to that.
- The courts: commercial disputes can ultimately be resolved through the legal system.
If something goes wrong
Start with our complaints process. We aim to resolve issues directly and fairly. The absence of the Ombudsman does not remove our duty to deal with you honestly and to put genuine mistakes right.
See also: What does it mean that Credicorp is an exempt business lender?, What is a \"body corporate\", and why it matters for lending and Why doesn't the Financial Ombudsman Service apply to my complaint?.