Credicorp lends exclusively to UK incorporated businesses: limited companies and limited liability partnerships (LLPs). We do not lend to individuals, and we do not lend to sole traders or ordinary partnerships. This is a deliberate boundary, not a temporary policy.
The legal reason
A limited company or LLP is a separate legal entity, distinct from the people who own or run it. It can borrow in its own name. Because our agreements are with these entities for business purposes, they sit within the exemption from the FCA consumer-credit regime. Lending to an individual or sole trader would generally pull the agreement into that regime, which is built for personal borrowing.
What this means in practice
- The borrower is the company, identified by its Companies House registration.
- The director applies on behalf of the company, not in a personal capacity.
- The agreement is a commercial one between two businesses.
If you are a sole trader
If you trade as an individual rather than through a company, our products are not available to you. That is not a judgment on your business; it simply falls outside what we are set up to do. Some sole traders choose to incorporate as a limited company for separate commercial reasons, but that is a decision to take with your accountant, not something to do solely to access finance.
Keeping this boundary clear protects both sides: you know exactly who the borrower is, and we lend within the framework we are built for.
See also: What is a \, What is the exempt business lending market?, Does Credicorp lend to sole traders or individuals?.