When you apply for a Credicorp facility, we conduct a credit search on your company and, where relevant, on its directors. Here is what those searches look like and how they are categorised.
Company credit search
We run a commercial credit check on the applying company through one or more business credit reference agencies. This is recorded as a credit enquiry on your company's commercial credit report. Other lenders who subsequently check your company's report will be able to see that a search was made, by whom, and on what date.
Unlike consumer credit searches, commercial searches do not carry a standardised "soft" vs "hard" classification — whether a commercial search is visible to third parties depends on the individual credit reference agency's rules. In most cases, commercial credit enquiries are visible to other commercial lenders.
Director credit search
Because Credicorp lends without a personal guarantee, we do not conduct a full personal credit check in the traditional sense. However, we may access director-level data from business credit databases to help verify identity and assess business associations. This is distinct from a consumer credit search that would appear on a director's personal Experian or Equifax credit file.
If you are unsure what data Credicorp has searched about you personally, you can request a data subject access request — see how to make a DSAR.
How long searches stay on your report
Commercial credit enquiries are typically retained on your company's credit report for 12 to 24 months, depending on the credit reference agency. They do not directly affect your credit score in the same way as a missed payment or default, but multiple searches in a short period can be visible to other lenders reviewing your report.
Does applying affect my credit score?
Applying for a Credicorp facility involves a commercial credit check. For the effect on your company's business credit profile, see does a loan application affect company credit file?
See also: Which credit reference agencies do you use?, Does applying affect your business credit?, How to make a data subject access request.