A Credicorp account is a business account. It is opened in the name of a UK limited company or limited liability partnership (LLP) that borrows from us for genuine business purposes. The account, like the borrowing itself, belongs to the company rather than to any individual.
Who is eligible
- UK-registered limited companies (Ltd or PLC)
- Limited liability partnerships (LLPs) registered with Companies House
- Businesses borrowing for trade, growth, equipment, stock or working capital
Who is not eligible
- Individuals borrowing for personal or household use
- Sole traders and ordinary (non-LLP) partnerships
- Charities and other bodies that are not the entity types above
Because we lend only to incorporated businesses for business purposes, your agreement sits outside the FCA consumer-credit regime. That means the Financial Ombudsman Service and the Financial Services Compensation Scheme (FSCS) do not apply. We also do not take personal guarantees from directors: the obligation is the company's.
If you are unsure whether your business qualifies, our team can confirm eligibility before you apply for Credicorp Flex or Credicorp Slice.
See also: Who is eligible for Credicorp Flex?, What is a business loan?, Can a sole trader or ordinary partnership apply?.