If your company is in financial difficulty, you are entitled to seek independent advice and we actively encourage you to do so alongside speaking with us. Independent advisers are under no obligation to any lender and can help you understand all of your options — including those that may not involve continuing with your current loan facility. Taking proper advice early is one of the most effective steps a director can take.
Free services for business directors
- Business Debtline (businessdebtline.org) — a free, confidential helpline for self-employed people and small business owners, run by the Money Advice Trust. They advise on business debts, creditor negotiations, and insolvency options.
- The Insolvency Service (gov.uk/government/organisations/insolvency-service) — provides guidance on formal insolvency procedures including CVAs, administration, and liquidation, and publishes director responsibilities during insolvency.
- Citizens Advice Business — provides general debt guidance and can refer directors to specialist services.
- R3 — Association of Business Recovery Professionals (r3.org.uk) — can help you find a licensed insolvency practitioner for a free initial consultation.
When to seek advice
Do not wait until your company has formally missed payments before seeking advice. Directors who take advice early — when the company is technically solvent but cash-flow is strained — have significantly more options available, including refinancing, negotiated payment plans with creditors, and operational restructuring. Once a company is technically insolvent, directors have additional legal obligations and the window for informal resolution narrows.
Confidentiality
Seeking advice from any of the above organisations is confidential. Contacting a debt advice service does not automatically notify us or any other creditor, and does not trigger any formal process. You are free to explore your options and then decide how to proceed.
We lend only to UK limited companies and LLPs, and the loan is to the company with no director personal guarantee required. As business finance outside the consumer-credit regime, it is not covered by the Financial Ombudsman Service or FSCS.
See also: What if my business is insolvent or considering administration?, How do I tell Credicorp my business is struggling?.