Because the loan is to your company, the application must be made by someone with authority to commit the company to borrowing. Getting the right person to apply avoids delays and makes sure the agreement is properly entered into.
Who normally has authority
- Directors of a limited company acting within the powers set by the company's articles.
- Members of an LLP with authority under the members' agreement.
If your company requires more than one signatory for financial decisions, make sure that is reflected when you apply.
What the applicant will do
The person applying confirms the company's details, sets out the business purpose, and completes identity verification in their own name as an authorised individual. This identity check confirms who they are — it does not make them personally liable. Credicorp does not take personal guarantees from directors; the obligation rests with the company.
Acting honestly for the company
Whoever applies should be confident the information given is accurate and that the borrowing is in the company's interest and for a genuine business purpose. Knowingly applying without authority, or for personal use, is not permitted.
These agreements sit outside the FCA consumer-credit regime, so they do not carry Financial Ombudsman Service access or FSCS protection. The figures in any offer are presented for the authorised applicant to review before acceptance.
See also: Can a company with several directors or members apply?, How to prepare your company before you apply, Complaining on behalf of your company.