Scammers often misuse the names of well-known protection schemes to sound legitimate, so it helps to know the true position. Credicorp lends only to UK limited companies and LLPs for business purposes. This kind of business lending sits outside the FCA's consumer-credit regime.
What this means in practice
- The Financial Ombudsman Service does not cover this lending, so you would not be able to escalate a complaint about it to the FOS.
- The Financial Services Compensation Scheme (FSCS) does not apply.
- No personal guarantees are taken from directors. The loan is to the company, not to you as an individual.
Why we are upfront about this
Being clear about what does and does not apply is part of treating you fairly. It also helps you spot fraud. If anyone claiming to be from Credicorp tells you that your business loan is FSCS-protected or that you can take a dispute to the Financial Ombudsman, treat that as a warning sign that they may not be genuine.
How we handle concerns
We take complaints and concerns seriously and have our own process for dealing with them. If you have an issue with your account, contact us directly through a verified channel and we will work with you to resolve it.
See also: What protections apply when a loan is outside the FCA regime?, What FOS and FSCS cover — and why a loan to a company falls outside both, How difficulty support differs for business borrowers versus consumers.