Yes, you can apply even if your company has been trading for a relatively short time. Credicorp assesses the overall picture of your business rather than relying solely on years of filed accounts.
What we look at when accounts are limited
When formal accounts are sparse, we place more weight on recent bank statements, management accounts, and the trajectory of your revenue. A company that is three months old but showing consistent inbound payments and a clear business model is a stronger candidate than one with several years of flat or erratic turnover.
Which products suit early-stage businesses?
Credicorp Flex — our revolving credit facility — can suit companies that need flexibility while their revenue pattern is still establishing itself: draw what you need, repay, and redraw up to your limit. Credicorp Slice, which spreads a single bill across three or four weekly instalments at a flat 6% fee, is particularly useful if you have one specific supplier payment to manage rather than an ongoing cash-flow gap. A Business Loan may be available once your revenue is more predictable.
What you can do to strengthen your position
- Provide three to six months of business bank statements showing regular receipts.
- Include management accounts if your year-end accounts are not yet filed.
- Be ready to explain your revenue model and any signed customer contracts or purchase orders.
- Make sure your Companies House filing is current and your registered address is correct.
We lend only to UK limited companies and LLPs, and the loan is to the company with no director personal guarantee. As business finance outside the consumer-credit regime, it is not covered by the Financial Ombudsman Service or FSCS.
See also: What does a soft search show on your company credit file?, What strengthens a Credicorp application?, Does stating a specific purpose help my application?