It is a fair question, especially if you have dealt with consumer lenders before. The short answer is that Credicorp does not provide consumer credit, and the Financial Ombudsman Service deals with complaints inside the FCA consumer-credit and broader regulated regimes.
What makes our lending exempt
We lend only to UK limited companies and LLPs, strictly for business purposes, and never to individuals or sole traders. Business-purpose lending of this kind is an exempt arrangement, which means it does not fall under the consumer-credit rules that bring the Ombudsman into play.
- The borrower is the company, not a person
- The funding is for business use, not personal use
- No personal guarantee is taken from directors
So how do complaints get resolved?
Through our internal complaints process. We investigate properly, explain our findings, and aim to put things right where we have got them wrong. You can also take other routes open to a business in dispute, such as legal advice.
Related protections
For the same reason, the Financial Services Compensation Scheme (FSCS) does not apply to these facilities. None of this changes our duty to treat your business fairly.
See also: Complaints glossary: internal complaints process, Are there time limits for raising a complaint?, What does it mean that Credicorp is an exempt business lender?.