Applying

Open Banking is an FCA-regulated way for your bank to share read-only transaction data with authorised lenders like Credicorp. Connecting takes about two minutes and usually means a faster, more accurate decision than uploading PDF statements manually.

How the connection works

During the application you will be redirected to your bank's own secure login page. You authenticate with your usual credentials, select the account(s) to share, and are returned to the Credicorp application. We receive a read-only feed — we cannot initiate payments or move money. The connection is typically valid for 90 days and can be revoked at any time through your bank.

Which banks are supported?

Most major UK business banking providers are available, including the large high-street banks and many challenger banks. If your bank is not yet listed, you can upload three to six months of PDF statements instead — the process simply takes a little longer.

What we look at in the data

We review turnover patterns, regular outgoings, and cash-flow consistency. We do not make decisions based on individual transactions; it is the overall picture that matters. The data is encrypted at rest and used solely for credit assessment in line with our privacy policy.

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 documents do I need to apply?, How long does a business loan application take?.

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It depends on your legal structure, not on the fact that you are a charity. Credicorp lends to UK incorporated bodies, so an incorporated charity — most commonly a charitable company limited by guarantee, or a charitable incorporated organisation (CIO) — can apply, provided the borrowing is for a genuine business purpose. What we look at is the legal form of the borrower and what the money is for, not the charitable mission behind it. This sits right alongside our guidance on whether a CIC or community interest company can apply.

Which charitable structures can apply

The key question is whether your charity is its own legal entity that can borrow in its own name. Two common forms qualify:

• Charitable company limited by guarantee — registered at Companies House with its own company number and statutory accounts, so it has the legal personality we rely on when we lend.
• Charitable incorporated organisation (CIO) — incorporated through the Charity Commission, with its own legal identity separate from its trustees and members.

An unincorporated charity, a charitable trust or a simple charitable association is not a separate corporate body in the way we need, so it would not fit the entity types covered in which business types can apply to Credicorp. If you are unsure which category yours falls into, your governing document or your Charity Commission entry will tell you.

The business-purpose test still applies

A charity exists to deliver public benefit, but it still trades and still has running costs — working capital, equipment, premises, stock for a trading arm, or bridging a gap while it waits on grant, contract or fundraising income. Those are the kinds of need we can fund. The finance has to be for the organisation's own activity rather than personal use by anyone involved, which is the same standard we set out in what counts as a business purpose when I apply. Your not-for-private-profit status does not change that test in either direction.

What we look at

We assess the organisation as a legal entity. As with any applicant, we check your registration and standing — at Companies House for a charitable company, or with the Charity Commission for a CIO — and we look at the trading and money movement of the borrowing entity. Trustees should make sure that taking on finance is within the charity's powers and consistent with its governing document before applying, since that decision sits with the trustee board, not with us.

How your finance is regulated

Credicorp is an exempt business lender. We lend to incorporated bodies for business purposes, which sits outside the FCA consumer-credit regime, so the Financial Ombudsman Service and the Financial Services Compensation Scheme (FSCS) do not apply, and we are a lender rather than a broker. We also do not take personal guarantees, so the obligation to repay sits with the charity itself and not with its trustees — the same way we describe in why we do not take a personal guarantee. For more on the basis you would be borrowing on, see what it means that we are an exempt lender.

If you are not certain whether your charity's structure or planned use of funds fits, the quickest check is your incorporation status and a clear note of the business purpose. If anything is still unclear, ask us before you apply and we will tell you where you stand.

See also: Can a newly formed company apply?, Can a co-director apply with me?, Can a company in a CVA or with a repayment plan apply?.

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Yes, in principle. A community interest company (CIC) is an incorporated body corporate registered at Companies House, so it can apply to Credicorp in the same way as any other limited company, provided the borrowing is for a genuine business purpose. What matters to us is the legal form of the borrower and what the money is for, not the social mission behind it.

Why a CIC qualifies as a borrower

Credicorp lends to UK incorporated entities. A CIC is incorporated either as a company limited by shares or a company limited by guarantee, and it has its own company number, registered office and statutory accounts at Companies House. That gives it the same legal personality we rely on when we lend: the borrower is the company itself, not the directors or members behind it. Because of this, a CIC sits alongside the entity types covered in which business types can apply to Credicorp.

The business-purpose test still applies

A CIC exists to deliver a community benefit, but it still trades and still has commercial needs, such as working capital, stock, equipment or covering costs while it waits on grant or contract income. Those are exactly the kinds of need we can fund. The finance has to be for the company's own commercial activity rather than personal use by anyone involved, which is the same standard we set out in what counts as a business purpose when I apply. A CIC's not-for-private-profit status does not change that test in either direction.

How we assess a CIC

We look at the company as a legal entity. As with any applicant, we check your registration and standing at Companies House, which is why we explain why we check Companies House. We do not take a personal guarantee, so the obligation to repay sits with the CIC and not with its directors, the same way we describe in why we do not take a personal guarantee. The asset lock that comes with CIC status affects how the company distributes its assets and surplus; it does not prevent the company from taking on finance for its own purposes.

What to have ready

• Your CIC company number and registered details, so they match Companies House.
• A clear, accurate description of the business purpose for the funds.
• The usual financial information we ask any company for during the application.

How your finance is regulated

Credicorp is an exempt business lender. We lend to incorporated bodies, including CICs, for business purposes, which sits outside the FCA consumer-credit regime. That means the Financial Ombudsman Service and the Financial Services Compensation Scheme (FSCS) do not apply, and we are a lender rather than a broker. We explain this plainly during the application so you understand the basis you are borrowing on. If you would like more detail, see what it means that we are an exempt lender.

If you are not sure whether your CIC's structure or planned use of funds fits, the quickest check is your Companies House registration and a clear note of the business purpose. If anything is still unclear, ask us before you apply and we will tell you where you stand.

See also: Can a newly formed company apply?, Can a charity or charitable company apply?, Can a co-director apply with me?.

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Many of our customers are owner-managed companies, but some have more than one director. Both directors can be involved in the application.

How it works

The applying director starts the application, then invites the co-director to join via the portal. The co-director receives an email with a secure link, completes their own identity check, and confirms the application on behalf of the company. We then have signed acknowledgement from both directors that the loan is for a business purpose and that they accept the terms.

What does not change

• The loan is still to the company, not to either director personally.
• No personal guarantee is taken from any director.
• The lending decision is on the company's affordability and the company's history. We look at both directors for identity and AML purposes only.

Where the directors disagree

If one director wants the loan and another does not, we will not proceed until that is resolved internally. Borrowing is a company decision and needs the agreement of those authorised to bind the company. Use the in-application chat if you need to pause the application while that conversation happens.

Related articles explain how companies with multiple directors or members apply, whether all directors need to approve the application and why we do not take a personal guarantee.

See also: Can a newly formed company apply?, Can a charity or charitable company apply?, Can a CIC or community interest company apply?.

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A limited company or LLP that is part-way through a Company Voluntary Arrangement, or running another formal repayment plan, can still apply to Credicorp. A live CVA is a serious signal and we treat it as one, but it is not an automatic refusal. What we look at is whether the company is meeting the plan as agreed and whether a new, separate commitment would genuinely help the business rather than stretch it past the point the arrangement was meant to fix.

What a CVA is, in plain terms

A CVA is a legally binding agreement between an insolvent or struggling company and its creditors to pay back some or all of what is owed over a set period, usually supervised by an insolvency practitioner. The company keeps trading while the plan runs. It is one of several formal routes a business can take, and it sits alongside informal arrangements, time-to-pay deals with HMRC, and other repayment plans. For the wider picture, see what insolvency means.

How a live arrangement factors into the decision

We assess the business as a whole rather than reacting to the label "CVA" on its own. The arrangement is one important input among several, and we weigh it against how the company is actually trading now.

• Whether payments under the CVA or repayment plan are up to date and being met on schedule
• How far through the term the arrangement is, and how it is progressing
• What the company looks like today from Open Banking data or recent statements
• Whether the supervisor of the arrangement permits the company to take on further borrowing
• Whether new finance would relieve pressure and support recovery, or simply add another layer of cost

Check the terms of your arrangement first

Many CVAs and formal plans place limits on taking on new credit while the arrangement is live, and some require the supervisor’s consent before the company borrows again. Before you apply, check what your own arrangement allows and speak to your insolvency practitioner or supervisor if you are unsure. Applying for finance you are not permitted to take on helps no one, so it is worth confirming the position up front.

It is about affordability, not punishment

Our job is to lend responsibly, which means asking whether finance helps your business or risks undoing the progress the arrangement represents. A company that is meeting its CVA, trading steadily, and has a clear commercial use for the money may still receive an offer. A company already at full stretch may be offered a smaller amount, a different product, or declined. That outcome protects both sides. The same principle runs through how existing debt affects the decision and the broader view in how we decide whether to lend.

Be straight with us about the position

Telling us about a CVA or repayment plan up front helps your application rather than harming it. We would far rather assess an accurate picture than discover an undisclosed arrangement later. Open Banking and the documents we ask for tend to reveal the real position anyway, so candour simply makes the assessment cleaner and faster.

How a CVA differs from a CCJ

A CVA is a voluntary, ongoing arrangement the company has entered into; a County Court Judgment is a court order recording a debt. They are different things and we treat them differently, though both are part of the wider eligibility picture. If a judgment is also in play, whether a CCJ against your company affects eligibility covers that side in full.

Credicorp is an exempt business lender to UK limited companies and LLPs only, not to sole traders or individuals, and we are a lender rather than a broker. The borrower is the company, with no personal guarantees from directors. Because this is business lending outside the consumer-credit regime, it is not covered by the Financial Ombudsman Service or FSCS. The rate, term and repayments in any offer are specific to your business and shown to you before you commit.

See also: Can a newly formed company apply?, Can a charity or charitable company apply?, Can a CIC or community interest company apply?.

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Yes, in principle. A company limited by guarantee (often shortened to CLG) is an incorporated body corporate registered at Companies House, so it can apply to Credicorp in the same way as a company limited by shares, provided the borrowing is for a genuine business purpose. What matters to us is the legal form of the borrower and what the money is for — not whether the company has shareholders or members. This sits right alongside the entity types covered in which business types can apply to Credicorp.

Where it sits on the body-corporate boundary

The line we draw is between an incorporated body that can borrow in its own name and an unincorporated one that cannot. A company limited by guarantee falls firmly on the incorporated side. Instead of shares and shareholders, it has members who each agree to contribute a fixed, usually nominal, amount towards the company's debts if it is wound up — that guarantee is the only thing the "limited by guarantee" label describes. The company still has its own company number, registered office and statutory accounts at Companies House, and it is still a separate legal person from its members and directors. That separate legal personality is exactly what we rely on when we lend.

Common forms this covers

A guarantee company is the usual structure for organisations that are not run for the private profit of owners but still trade and still incur costs. You will often see it used by:

• Membership bodies, trade associations and professional institutes.
• Sports, social and community clubs that have incorporated.
• Social enterprises and not-for-profit ventures that have not taken charitable or CIC status.
• Management companies for property or shared facilities.

Two related forms have their own guidance because they layer extra rules on top of the guarantee structure: a community interest company, covered in whether a CIC or community interest company can apply, and a charitable company limited by guarantee, covered in whether a charity or charitable company can apply. If your company is a plain guarantee company with neither of those overlays, this page is the one that applies to you.

The business-purpose test still applies

Being limited by guarantee, and often not-for-private-profit, does not change what the money can be used for. The finance has to be for the company's own commercial activity — working capital, equipment, premises, stock, or bridging a gap while you wait on membership, contract or grant income — rather than personal use by anyone involved. That is the same standard we set out in what counts as a business purpose when I apply, and it applies in exactly the same way to a guarantee company as to any other limited company.

How we assess a guarantee company

We look at the company as a legal entity, not at the members behind it. As with any applicant, we check your registration and standing at Companies House and we look at the trading and money movement of the borrowing entity. Because there are no shares, decision-making sits with the members and the board under the company's articles, so it is worth confirming that taking on finance is within the company's powers and properly authorised before you apply. We do not take a personal guarantee from directors or members, so the obligation to repay sits with the company itself, the same way we describe in why we do not take a personal guarantee.

How your finance is regulated

Credicorp is an exempt business lender. We lend to incorporated bodies — including companies limited by guarantee — for business purposes, which sits outside the FCA consumer-credit regime. That means the Financial Ombudsman Service and the Financial Services Compensation Scheme (FSCS) do not apply, and we are a lender rather than a broker. For more on the basis you would be borrowing on, see what it means that we are an exempt lender.

If you are not sure whether your guarantee company's structure or planned use of funds fits, the quickest check is your Companies House registration and a clear note of the business purpose. If anything is still unclear, ask us before you apply and we will tell you where you stand.

See also: Can a newly formed company apply?, Can a co-director apply with me?, Can a company in a CVA or with a repayment plan apply?.

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Yes. A limited company with an overdrawn director's loan account (DLA) can still apply to Credicorp. A DLA balance is a normal feature of how many owner-managed companies are run, and on its own it does not close the door. What we assess is the company's ability to afford new repayments from its trading, not the internal bookkeeping position between the company and its directors.

What an overdrawn DLA actually is

A director's loan account records money that moves between a director and the company outside of salary, dividends or expenses. The account is "overdrawn" when the director owes the company — for example, drawings taken during the year ahead of profits being declared as dividends. It is an accounting and tax matter for the company and its director, with its own consequences such as a section 455 charge and possible benefit-in-kind treatment. Those points are covered in our learn article on a director's loan to your own company, which is the place to start if you want the tax detail. This page is only about whether an overdrawn DLA affects the company's eligibility to borrow from us.

Why it does not bar the application

Because we lend to the company and take no personal guarantee, the borrower is the company itself and the obligation to repay sits with the company, not with any director personally. An overdrawn DLA is a balance between the company and an individual; it is not external debt owed to a third party. That is a different thing from arrears or borrowing owed to another lender, which we weigh separately in how existing debt affects the decision. The no-guarantee point is set out in why we do not take a personal guarantee.

What we look at instead

We assess the company as a whole and focus on affordability — whether new repayments fit comfortably alongside what the business is already paying. A DLA position is one piece of context, not the test in itself.

• How the company is trading now, from Open Banking data or recent statements
• Whether there is genuine headroom in the company's cash flow for another commitment
• The size and direction of the DLA, and whether it is being managed or cleared sensibly
• Whether the new finance is for a clear commercial purpose for the company

A large, growing overdrawn DLA can signal that cash is leaving the business faster than it is earned, and we take that into account. A modest balance your accountant expects to clear through dividends is unremarkable. Either way, it is the company's trading and affordability that drive the outcome, as described in how we decide whether to lend.

Business purpose still applies

The borrowing has to be for the company's own genuine commercial need, as set out in what counts as a business purpose when I apply. Using a Credicorp facility to repay or clear an overdrawn director's loan account is not a business purpose — that is money for an individual, not for the company's trading. Funding working capital, stock, equipment or a growth cost is exactly the kind of need we can support. If clearing a DLA is your aim, that is a matter to handle through the company's own profits and your accountant's advice, not through borrowing from us.

Be straight with us about the position

If your company carries an overdrawn DLA, there is no need to hide it. Open Banking and the financial information we ask for tend to show how cash actually moves through the business anyway, so being open simply makes the assessment cleaner and faster. If your accountant manages the account, they can usually explain it in a sentence or two.

Credicorp is an exempt business lender to UK limited companies and LLPs only, not to sole traders or individuals, and we are a lender rather than a broker. The borrower is the company, with no personal guarantees from directors. Because this is business lending outside the consumer-credit regime, it is not covered by the Financial Ombudsman Service or FSCS. The rate, term and repayments in any offer are specific to your business and shown to you before you commit. If you are unsure whether your company's position fits, ask us before you apply and we will tell you where you stand.

See also: Can a newly formed company apply?, Can a charity or charitable company apply?, Can a CIC or community interest company apply?.

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Yes. A limited company or LLP with arrears on borrowing elsewhere can still apply to Credicorp. Arrears with another lender are not an automatic bar, and they do not close the door before we have looked at the wider picture. What matters is whether new repayments fit comfortably alongside everything the company is already paying, including any catch-up on what is overdue.

How arrears factor into the decision

We assess the business as a whole rather than reacting to a single negative marker. An arrears position is one input among several. We weigh it against how the company is trading now, the income coming in, and whether there is genuine headroom for another commitment.

• What the arrears are, how large they are, and how recent
• Whether they are being actively managed, for example under an agreed arrangement
• How the company is trading today, from Open Banking data or statements
• Whether new borrowing would relieve the pressure or add to it

It is about affordability, not punishment

Our job is to lend responsibly, so we look at whether finance helps your business or stretches it further. A company with manageable, well-handled arrears and steady income may still receive an offer. A company already at full stretch may be offered a smaller amount, a different product, or declined. That outcome protects both sides. You can read more about the general principle in how existing debt affects the decision and the wider view in how we decide whether to lend.

Be straight with us about the position

Being open about arrears elsewhere helps, rather than hurts, your application. We would far rather see an accurate picture and assess it properly than discover an undisclosed commitment later. Open Banking and the documents we ask for tend to show the real position anyway, so candour up front simply makes the assessment cleaner and faster.

Business purpose still applies

The borrowing must be for a genuine commercial need, as set out in what counts as a business purpose. Using new finance to bring a clear, well-evidenced plan back on track can be a sound business purpose. Borrowing simply to roll one stretched position into another, with no underlying improvement, is the situation responsible lending is meant to avoid.

Arrears with us specifically

This page is about arrears owed to other lenders. If the arrears are on an existing Credicorp facility, the position is handled differently, and how arrears affect future borrowing with us covers that. Either way, we encourage you to talk to us early.

Credicorp is an exempt business lender to UK limited companies and LLPs only, not to sole traders or individuals, and we are a lender rather than a broker. The borrower is the company, with no personal guarantees from directors. Because this is business lending outside the consumer-credit regime, it is not covered by the Financial Ombudsman Service or FSCS. The rate, term and repayments in any offer are specific to your business and shown to you before you commit.

See also: Can a newly formed company apply?, Can a charity or charitable company apply?, Can a CIC or community interest company apply?.

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Yes. A limited company with several directors, or an LLP with several members, can apply to Credicorp. Having more than one person involved does not change your eligibility, but it does mean a little extra care over who applies and how we identify everyone.

Who should start the application

The application should be started by someone with authority to take on borrowing for the business, such as a director or designated member. They should be confident that the application reflects what the business as a whole wants to do.

• Make sure your directors or members match the current Companies House record.
• Be prepared for us to identify the people behind the business.
• Agree internally on the purpose and amount before applying.

Why we identify the people behind the business

Even though the loan is to the company or LLP, we are required to know who controls and runs the business. This is a standard part of responsible lending and helps prevent fraud. It does not mean those individuals are personally on the hook, because we do not take personal guarantees.

Good to know

The loan is to your company or LLP, not to any individual director or member. This is exempt business lending and is not covered by the Financial Ombudsman Service or FSCS. If your board or members are not aligned on borrowing, it is worth resolving that before you apply.

For the practical steps, see whether a co-director can apply with you, director approval requirements and what information to prepare before applying.

See also: Can a newly formed company apply?, Can a charity or charitable company apply?, Can a CIC or community interest company apply?.

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A holding company, or a trading company that sits within a group, can apply to Credicorp. The important point is that the borrower must be a single, named UK limited company or LLP, and the borrowing must be for that entity's genuine business purposes.

Apply as the right entity

Make sure you apply in the name of the company that will actually use the funds and be responsible for repaying. Mixing up a parent and a subsidiary can slow things down, because the application details need to match the Companies House record of the borrowing entity.

• Use the registration number of the specific company that is borrowing.
• List the directors or members of that entity, not the wider group.
• Be clear about how that company will use the funds.

What we look at within a group

We consider the trading activity and money movement of the applying entity. A pure holding company with no trading activity of its own may have less to show than an operating subsidiary, so think about which entity is the natural borrower.

Good to know

We do not take personal guarantees from directors or members. This is exempt business lending and is not covered by the Financial Ombudsman Service or FSCS. If you are unsure which group entity should apply, your accountant can help you decide before you start.

For nearby eligibility questions, see which business types can apply, why we check Companies House and what information to prepare before applying.

See also: Can a newly formed company apply?, Can a charity or charitable company apply?, Can a CIC or community interest company apply?.

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A newly incorporated company can apply, but a short trading history means we have less information to assess. That does not rule you out; it simply shapes what we look at and the kind of offer we can make.

The challenge with new companies

Lending responsibly means understanding how a business performs over time. A company that has only just started trading has not yet built that picture, so we may have less to go on than for an established business.

What helps

• An active business bank account you can connect by Open Banking
• Real trading activity, even over a short period
• An accurate, up-to-date Companies House record
• A clear purpose for the finance that fits the business

If we cannot lend yet

If your company is too new for us to assess confidently, we may not be able to offer finance at this stage. Building a few months of genuine trading through your business account often makes a later application stronger.

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.

For more detail, see how soon after incorporation a company can borrow, how much trading history we look at and which business types can apply.

See also: Can a charity or charitable company apply?, Can a CIC or community interest company apply?, Can a co-director apply with me?.

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A newly formed holding company can apply, but the assessment will focus on the underlying trading activity within the group rather than the holding entity alone. The key question is whether there is a genuine, active business generating revenue — regardless of which legal entity sits at the top.

What we look at in a holding structure

If your holding company was incorporated recently to sit above one or more established operating subsidiaries, we will want to understand the relationship between entities: how cash flows between them, who holds the trading contracts, and which company the facility will ultimately benefit. In many cases, the appropriate applicant is the operating subsidiary rather than the holding company.

When the holding company is the right applicant

• The holding company itself trades or has trading contracts in its own name.
• It has its own bank account with regular, documented receipts.
• Intercompany loans or dividends flowing from subsidiaries are clearly documented and consistent.

Preparing your application

Provide a brief group structure chart showing which entities exist and their relationships. Include bank statements and accounts for both the holding company and the relevant operating subsidiary if possible. If the holding company is newly incorporated but the operating business beneath it has years of history, that trading history is relevant and we will want to see it. Being upfront about the structure from the outset saves time for everyone.

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: Can my company apply while it is mid-restructure?, What strengthens a Credicorp application?, Can I apply if my company has a short trading history?

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Yes — Credicorp does consider applications from recently incorporated limited companies and LLPs. The key factor is not simply how long you have been registered, but the quality of the financial evidence you can provide.

What counts as trading history?

A company incorporated six months ago with a healthy, consistent flow of business income and a clean bank record will typically be assessed more favourably than an older company with erratic cash flow. We look at the evidence of actual trading — invoices paid in, regular outgoings, VAT returns — rather than the date on your certificate of incorporation alone.

What to expect as a new company

• Initial credit limits may be more conservative than for an established business.
• We will rely heavily on Open Banking data and any management accounts you can provide.
• A Credicorp Slice product — spreading a single specific bill at a flat 6% fee — can be a practical starting point, as the exposure is limited and clearly defined.

Strengthening your application

Connect your business bank account via Open Banking, provide at least three months of transaction history, and give a clear description of your trading model. If you have contracts or confirmed orders, these can also support the assessment even if not formally required.

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: Applying mid-financial year with no new filed accounts, What documents do I need to apply?.

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The borrower must be a UK-registered limited company or LLP. A company that is registered overseas is not eligible to borrow from Credicorp, even if it trades in the UK. What matters is the entity that holds the loan, and that must be a UK Ltd or LLP.

Overseas-based directors or members

It can still be possible to apply where a director or member is based outside the UK, as long as the borrowing entity itself is UK-registered. We will need to identify those individuals as part of normal checks, which may take a little longer if they are overseas.

• The borrowing entity must be registered at Companies House.
• We identify directors or members wherever they are based.
• The borrowing must be for the UK entity's business purposes.

Why the UK entity is the key

Lending to a UK-registered Ltd or LLP gives a clear legal borrower under UK law. A purely overseas company does not fit how we are set up to lend.

Good to know

We do not take personal guarantees from directors or members, including those based overseas. This is exempt business lending and is not covered by the Financial Ombudsman Service or FSCS. If your UK presence is not yet incorporated, you cannot apply until it is.

You may also want to read which business types can apply, the application journey and what information to have ready.

See also: Can a newly formed company apply?, Can a charity or charitable company apply?, Can a CIC or community interest company apply?.

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No. Credicorp lends only to UK incorporated businesses, meaning private limited companies and limited liability partnerships (LLPs). Sole traders, ordinary (non-incorporated) partnerships and individuals are not eligible to borrow from us.

Why we only lend to incorporated businesses

Credicorp is an exempt business lender. Our lending is to companies and LLPs for business purposes and sits outside the FCA consumer credit regime. Sole-trader and personal borrowing falls under that consumer regime, which is not what we are set up to provide. Because the loan is to a registered business rather than a person, there is a clear legal borrower at Companies House.

If you trade as a sole trader

If you currently trade as a sole trader, you may at some point choose to incorporate as a limited company. That is a decision to take with your accountant, based on your tax position and how you want to run the business, not something to do purely to access borrowing.

• Only an existing UK Ltd or LLP can apply.
• We do not take personal guarantees from directors or members.
• This lending is not covered by the Financial Ombudsman Service or FSCS.

What to do next

If your business is already a limited company or LLP, you can start an application using your Companies House registration number. If it is not, you cannot apply until it is incorporated.

Related eligibility articles explain which business types can apply, what exempt business lending means and what information to prepare before applying.

See also: Can a newly formed company apply?, Can a charity or charitable company apply?, Can a CIC or community interest company apply?.

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Yes. Credicorp lends to UK limited liability partnerships (LLPs) as well as to private limited companies. Both Credicorp Flex and Credicorp Slice are available to an LLP, provided the borrowing is for genuine business purposes.

Who applies on behalf of the LLP

An application should be started by a designated member of the LLP, or by a member with authority to take on borrowing for the partnership. The loan agreement is with the LLP itself, not with any individual member.

• Have your LLP registration number from Companies House ready.
• Make sure the named members on the application match the current Companies House record.
• Be clear about the business purpose of the funds.

What we look at

For an LLP we consider the partnership's trading activity, how the LLP manages its money day to day, and the purpose of the funds, in the same way we would for a limited company. The rate and term you are offered are shown in your offer if your application is approved.

Important to know

Because Credicorp is an exempt business lender, this borrowing sits outside the FCA consumer credit regime. That means it is not covered by the Financial Ombudsman Service or FSCS. We do not take personal guarantees from members. If you are unsure whether an LLP is the right structure for borrowing, speak to your accountant before you apply.

For more LLP detail, see whether an LLP applies the same way as a limited company, the difference between applying as a Ltd and an LLP and the application journey.

See also: Can a newly formed company apply?, Can a charity or charitable company apply?, Can a CIC or community interest company apply?.

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Yes. Limited liability partnerships (LLPs) are eligible alongside limited companies, because both are incorporated entities registered at Companies House. The application journey is essentially the same, with a few differences in the terms used.

What is the same

• You apply in the LLP's name, with its Companies House number
• You verify the LLP's finances by Open Banking or statements
• You choose between Credicorp Flex and Credicorp Slice
• The finance is to the LLP, with no personal guarantee from members

What is different

An LLP has designated members rather than directors. We confirm these against Companies House in the same way we confirm a company's directors. The person applying needs the authority to commit the LLP, which may be set out in your members' agreement.

Authority within the LLP

Agree internally who will lead the application before you start, particularly if your members' agreement requires more than one member to authorise borrowing. This keeps the process smooth and avoids delays.

As with companies, this is business finance outside the consumer-credit regime and is not covered by the Financial Ombudsman Service or FSCS. We lend only to UK limited companies and LLPs, never to individuals.

Related articles cover whether an LLP can apply for Credicorp Flex or Slice, the Ltd versus LLP application difference and which business types can apply.

See also: Can a newly formed company apply?, Can a charity or charitable company apply?, Can a CIC or community interest company apply?.

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You can apply for additional borrowing while your company or LLP is still repaying an existing facility, but it is assessed carefully. Repaying one loan well does not automatically mean a second will be approved.

What we look at

The central question is whether further borrowing is affordable and sensible for the business on top of what it already owes. We look at how the existing facility is being managed and at your recent trading.

• Whether repayments on the existing facility are up to date.
• Your recent business bank activity.
• The purpose of the additional funds.

Why we may say no

Responsible lending sometimes means declining additional borrowing even when an existing facility is in good standing, because taking on more would stretch the business too far. That is a protection, not a punishment. Where additional borrowing is approved, its rate and term are shown in that offer.

Good to know

Each facility is to your company or LLP, with no personal guarantees from directors or members. This is exempt business lending and is not covered by the Financial Ombudsman Service or FSCS. If you are finding the first facility a stretch, talk to us rather than borrowing more to cover it.

Related guidance covers having more than one loan with us, how multiple applications affect each other and how we decide whether to lend.

See also: Can a newly formed company apply?, Can a charity or charitable company apply?, Can a CIC or community interest company apply?.

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Credicorp offers two products, Credicorp Flex and Credicorp Slice. You are welcome to look at both, but in most cases it is best to apply for the single product that fits what your business is trying to do, rather than submitting two applications at once.

Why one application is usually better

Applying for both at the same time can be confusing to manage and does not increase your chances. A clear, single application with a well-defined purpose is easier for us to assess and for you to track. If you genuinely need a different product later, you can look at that as a separate step.

• Decide what the funds are actually for first.
• Choose the product that matches that purpose.
• Keep the purpose of the borrowing clear and specific.

If you're not sure which to choose

The product pages explain how Flex and Slice work so you can match them to your need. The rate and term for whichever you choose are shown in your offer if you are approved.

Good to know

Whichever product you use, the loan is to your company or LLP, with no personal guarantees from directors or members. This is exempt business lending and is not covered by the Financial Ombudsman Service or FSCS.

For choosing a product, see how to choose between Flex and Slice, Credicorp Flex and Credicorp Slice explained and how multiple applications affect each other.

See also: Can a newly formed company apply?, Can a charity or charitable company apply?, Can a CIC or community interest company apply?.

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Yes. Credicorp products are designed to work alongside one another. Many companies hold a Business Loan for a specific capital purchase and a Credicorp Flex facility for day-to-day cash-flow management at the same time.

Applying for multiple products together

If you want to apply for more than one product in the same session, you can select your preferred combination during the online application. The information you provide is shared across both assessments, so you will not need to re-enter company or banking details. A combined assessment means a single decision on your overall credit position rather than two separate processes.

Applying for a second product when you already have one

If you are already a Credicorp customer and want to add a product — for example, adding a Slice facility while a Business Loan is live — you can apply through your dashboard. We take your existing repayment track record into account, which can work in your favour.

Credicorp Slice alongside other products

Slice is bill-specific and short-term, so it sits outside your revolving Flex limit. You can request a Slice spread at any point, regardless of whether a Business Loan or Flex facility is active, as long as the combined exposure remains within our underwriting parameters for your company.

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: Reapplying after a declined application, How long does a business loan application take?.

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A county court judgment (CCJ) or other adverse entry on your company's credit record will not automatically result in a decline. Credicorp makes lending decisions based on the full financial picture of your company, and recent, positive trading evidence can carry significant weight alongside older adverse markers.

How we approach adverse credit history

We look at factors including:

• How old the adverse entry is and whether it has been satisfied
• The pattern of trading since the adverse event — consistent incomings and well-managed outgoings suggest recovery
• The size of the facility requested relative to the company's current turnover
• Whether the company is current on all other obligations

What to disclose

Be straightforward in the application. If a CCJ is on record, our checks will find it; undisclosed adverse history does more damage to an application than disclosed history with a clear explanation. A brief note on what caused the issue and what has changed since is genuinely useful context for our underwriters.

Starting smaller

If your company has recent adverse history, a smaller initial facility — or a Credicorp Slice request for a single specific bill — can be a lower-risk starting point. A positive repayment track record with Credicorp strengthens any subsequent application for a larger facility.

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: Reapplying after a declined application, Can a newly incorporated company apply?.

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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?

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Applying for a loan is not a commitment to take it. At every step right up until the money actually leaves us, you stay in control — you can ask for a different amount, walk away from an offer with nothing owed, or change your mind in the days after funding. Here is exactly what is possible at each stage, and where the lines are.

Before you sign: ask for a different amount

If you have applied for one amount but realise the company needs a little more or a little less, you do not have to start again. Tell us through the in-application chat or by email and we will look at whether a different amount works against the affordability picture. Two things to know:

• Lower is usually straightforward. Asking for less than you originally requested is generally easy to accommodate, because it sits comfortably inside what the assessment already supported.
• Higher is a fresh look. A larger amount has to be re-checked against the company's cash flow, so it is not automatic — we will only offer up to what the business can comfortably afford. Sometimes the answer is "this much, not more, not yet".

If we present a set of choices rather than one figure, you simply pick the one that fits — see can I have more than one offer? for how parallel offers work and how to compare them.

An offer is an option, not an obligation

When an offer is ready, it is yours to take or leave. Reaching offer ready places no obligation on the company whatsoever — you can read the terms, take your time, and decline if it is not right. There is no fee for declining, it costs the company nothing, and it is not held against you on a future application. If none of the offers suit, tell us and we will discuss whether something else is possible rather than treating it as a dead end.

What "accepted" actually means

It helps to separate three moments that can feel like one:

Offer ready

We have made an offer for you to review. Nothing is committed. You can change the amount, decline, or ask us to look again.

Accepted (signed)

You have signed the Business Loan Agreement. This sets up the payout — but the funds have not yet moved, and a member of our team still confirms the disbursement.

Funded

A person has confirmed the payout and the money has reached the company's bank account. From here, the 14-day withdrawal window below applies.

After funding: the voluntary 14-day withdrawal window

Even once the money has landed, you are not locked in. We offer a voluntary 14-day window in which you can withdraw from the agreement — you return the amount we advanced plus the small amount of interest accrued to that day, and the loan is treated as not having gone ahead. There is no early-settlement charge for using it, and using it is never held against you.

We are deliberately clear about what this is: it is a policy we choose to offer, not a statutory consumer cooling-off right, because lending to a company sits outside FCA consumer-credit regulation. For exactly how the window works, when it starts and how to use it, read the 14-day withdrawal right (voluntary).

If you simply want to clear it early

Withdrawing is for changing your mind in the first couple of weeks. If instead the loan has done its job and you just want to pay it off ahead of schedule, that is a different route and usually saves you money, because interest is charged only for the days you actually hold the balance. Ask us for a settlement figure and we will set out exactly what to pay.

See also: Can a newly formed company apply?, Can a charity or charitable company apply?, Can a CIC or community interest company apply?.

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Yes. Rather than a single take-it-or-leave-it offer, we typically present a small set of choices — different amounts and different terms — when the file supports more than one option. You can compare them in the portal side by side, pick the one that works for your business and sign that one.

What you will see

Each offer shows the amount, the term in days, the repayment schedule, the total cost of the credit, and the key figures you need to decide. They are real, signable offers; they are not estimates.

Choosing

Pick the one that fits your cash flow. A shorter term costs less in total but each payment is larger; a longer term spreads it out but costs more overall. There is no penalty for picking the cheaper one and there is no bonus for picking the longer one — it is the choice that genuinely suits you.

If none of them work

You are not obliged to accept any of them. If the offers do not fit, tell us through the in-application chat or by email and we will discuss whether something else is possible.

Before choosing, read how to choose between Flex and Slice, what happens after you accept an offer and how we decide whether to lend.

See also: Can a newly formed company apply?, Can a charity or charitable company apply?, Can a CIC or community interest company apply?.

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Yes, you can reapply after a decline. A declined application is a point-in-time decision based on the information available at that moment, not a permanent bar on your company. The question is what has changed — or what you can now demonstrate — since the original assessment.

Understand why you were declined before reapplying

We will tell you the principal reason for a decline. Common reasons include insufficient trading history, a CCJ that was not explained, inconsistent bank statement activity, or a loan amount that appeared disproportionate to turnover. Each of these can be addressed. Reapplying immediately without any change is unlikely to produce a different outcome — use the feedback as a checklist.

How to strengthen a reapplication

• Allow time for your trading position to improve if the issue was revenue or account activity — typically two to three months of cleaner statements makes a meaningful difference.
• If the decline related to a CCJ, provide evidence it has been satisfied and a short explanation of how it arose.
• If turnover was the issue, consider applying for a smaller facility or a product better matched to your current scale — for instance, Credicorp Slice for a single bill rather than a revolving Flex facility.
• Address any Companies House issues: overdue confirmation statements, incorrect officer records, or a dormant status that does not reflect active trading.

When to contact us before reapplying

If you are unsure whether the change in your circumstances is sufficient to warrant a new application, contact our team. A brief conversation can save you an unnecessary application and the associated credit check.

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 strengthens a Credicorp application?, What does a soft search show on your company credit file?, How long does a Credicorp approval decision last?

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A decline is not permanent. Our credit assessment is based on your company's position at the time of application, and that position can change. Many companies that were initially unsuccessful go on to be approved after addressing the underlying factors.

Understanding why you were declined

We will tell you the primary reason for the decision in your decline notification. Common reasons include insufficient trading history, cash-flow irregularities visible in bank data, or a credit profile that does not yet meet our current parameters. You can also contact our team to discuss the decision in more detail.

When can I reapply?

We recommend waiting at least three months before reapplying, and using that time to address the specific issues raised. For example, if cash flow was the concern, three to six months of more consistent incomings and outgoings will strengthen a new application materially. If it was trading history, waiting until you have a fuller set of filed accounts may make a significant difference.

What to do differently the second time

• Connect via Open Banking rather than uploading statements, so we see a complete and up-to-date picture.
• Ensure your Companies House records are current — any changes to directors or registered address should be filed before you apply.
• Consider whether a smaller initial amount or a shorter term would fit your company's current profile more comfortably.

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 slows down a business finance application?, What documents do I need to apply?.

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Many of our customers come to us through a recommendation from another business owner, and we are grateful when that happens. We do operate a referral programme and the current terms — what the referrer receives, what the new applicant receives, how a referral is recorded — are published in the customer portal under Refer a friend.

How to refer someone

1. Sign in. Go to your portal account
2. Open Refer a friend. Find the page under your account menu
3. Send the link. Share your unique referral link with whoever you have in mind
4. Track the referral. When they apply through that link, the referral is automatically credited to your account

What we do not do

We do not pressure customers into referring. We do not offer rewards that depend on a particular outcome (we offer them on a successful loan being drawn down, which is a normal arrangement, but we do not offer rewards for getting someone to apply when the loan is not right for them).

If you have any question about a referral that does not seem to have been recorded, the in-portal chat is the quickest way to ask.

See also: Can a co-director apply with me?, Can a company in a CVA or with a repayment plan apply?, What happens when your company falls into arrears.

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Applying for business finance sometimes means checking a detail, speaking to a co-director, or finding the right account to connect. You do not have to complete everything in one sitting.

Pausing part-way through

If you need to step away, the details you have entered are kept so you can return and continue rather than starting over. When you come back, you carry on from where you stopped.

Why you might pause

• To confirm your Companies House details are current
• To agree internally which director will lead the application
• To choose the business account you want to connect by Open Banking
• To gather any document we have asked for

Coming back to finish

Returning promptly is worth it. Information such as your trading picture is most useful when it is current, and a long gap can mean we ask you to refresh something. If you are unsure how to resume, contact us and we will help you pick up the thread.

We lend only to UK limited companies and LLPs, the loan is to the company with no director personal guarantee, and this is business finance outside the consumer-credit regime, not covered by the Financial Ombudsman Service or FSCS.

See also: Why might an application be declined?, Why do you need to know what the finance is for?, How do I choose between Flex and Slice when applying?.

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Yes. You can withdraw your application at any point before you have accepted an offer, and there is no obligation to go ahead. Starting an application does not commit your company or LLP to borrowing.

How to withdraw

The simplest way is to tell us you no longer wish to proceed. You can do this through your application or by contacting our support team, quoting your application details so we can find it quickly.

• Let us know before you accept any offer.
• Quote your application reference if you have one.
• Confirm you want the application stopped.

What happens to your information

If you withdraw, we stop assessing the application. We keep limited records as required for our own legal and regulatory obligations, but you can ask us about your data at any time. Withdrawing does not prevent you from applying again later if your needs change.

Good to know

Because we do not take personal guarantees and the loan would be to your company or LLP, there is nothing personal tied up in an unaccepted application. This is exempt business lending, outside the FCA consumer regime, so it is not covered by the Financial Ombudsman Service or FSCS. If you simply have questions before deciding, you can pause rather than withdraw and come back to it.

See also: Can I change the amount or cancel after I've applied?, What information should I have ready before I start?, What are the steps in the application journey?.

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It may be possible for your company or LLP to hold more than one facility with Credicorp at the same time, but it is not automatic. Any additional borrowing is assessed on its own merits and on what is sensible for your business.

What we consider for additional borrowing

When you already have a facility and apply for more, we look at how the existing borrowing is being managed alongside your current trading. The aim is to make sure further borrowing is affordable and responsible for the business, not just available.

• How your existing facility is being repaid.
• Your recent trading and money movement.
• The purpose of the new funds.

Why we don't simply stack borrowing

Lending responsibly means we will sometimes decline additional borrowing even where the business is in good standing, if taking on more would not be in the business's interest. Where an additional facility is approved, its rate and term are shown in that offer.

Good to know

Each facility is to your company or LLP, with no personal guarantees from directors or members. This is exempt business lending, outside the FCA consumer regime, so it is not covered by the Financial Ombudsman Service or FSCS.

For repeat borrowing, see applying for a second loan while repaying the first, how multiple applications affect each other and whether applying more than once hurts your chances.

See also: Can a newly formed company apply?, Can a charity or charitable company apply?, Can a CIC or community interest company apply?.

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It depends on the nature of the restructure. Operational changes — such as rebranding, pivoting your service offering, or moving to a new holding structure — are generally fine to disclose and proceed. Formal insolvency-adjacent processes are a different matter.

Restructures that do not prevent an application

• Changing your trading name or registered office.
• Transferring the business into a newly incorporated holding company, provided the operating entity applying to us has continued trading.
• Reducing headcount or closing a product line while the core business continues.
• Changing directors, provided the company remains solvent and in good standing at Companies House.

Situations where we need more information

If your company is subject to a formal arrangement — such as a Company Voluntary Arrangement (CVA), administration, or creditor negotiations — we will need full details before we can proceed. In most cases, active formal insolvency proceedings will pause an application until the outcome is clear. This protects the company as much as it protects us.

What to disclose in your application

Always describe the restructure honestly in your application notes. Omitting a material change in company structure is the most common reason an application is declined at a late stage. Providing a brief summary — what changed, when, and why — speeds up underwriting and avoids unnecessary back-and-forth. If you are unsure whether something counts as material, include it and let us ask the follow-up.

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?, Can I apply if my company has a short trading history?, What strengthens a Credicorp application?

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The loan is to your company, so the company must have the authority to take it on. Whether every director needs to be involved depends on how your business makes decisions.

Authority to borrow

Most companies grant directors authority to enter commercial contracts on the company's behalf. Your articles of association, shareholders' agreement or board resolutions may set out who can commit the company to finance. It is your responsibility to make sure the person applying has that authority.

When co-directors should be involved

• If your governance requires a board decision for borrowing
• If more than one director must authorise commitments above a certain level
• If you simply want shared visibility and accountability

Our part

We may ask for confirmation that the person applying is authorised, and we verify directors against Companies House. We do not require every director to personally guarantee the loan, because we take no personal guarantees at all. The obligation sits with the company.

If you are a sole director, you can apply and accept on the company's behalf. If you share control, agree internally who will lead before you start, so the application runs smoothly. As business finance outside the consumer-credit regime, this is not covered by the Financial Ombudsman Service or FSCS.

For related authority checks, read whether a co-director can apply with you, companies with multiple directors or members and why we check Companies House.

See also: Can a newly formed company apply?, Can a charity or charitable company apply?, Can a CIC or community interest company apply?.

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Two of the most common questions before applying are "do I have to be VAT-registered?" and "have I been trading long enough?" The short answers are no, you do not need to be VAT-registered, and there is a clear minimum trading time you can check yourself. This article sets out the concrete eligibility thresholds so you can tell, before you start, whether your business can apply.

The four things you need to apply

Eligibility comes down to four straightforward requirements. If your business meets all four, you can apply; if it falls short on one, the others will not make up for it. They are deliberately plain so you can check them against your own situation in a minute.

1. A UK limited company or LLP. The borrower has to be a body corporate registered at Companies House — a limited company or a limited liability partnership. We lend to the company itself, not to you as an individual.
2. At least 6 months trading. Your business needs a minimum of six months of trading history, so there is enough activity for us to assess. This is measured from when the company actually started trading, not necessarily from the incorporation date.
3. A UK business bank account. The company must hold its own UK business bank account, in the company's name. This is how we look at the business's cash flow and how any loan would be funded and repaid — it cannot be a personal account.
4. A genuine business purpose. The borrowing must be for the business — stock, a supplier bill, equipment, a short cash-flow gap — and not for personal spending. You confirm the purpose as part of applying.

Notice what is not on the list: VAT registration, a minimum turnover figure, or a perfect credit file. Those are covered below.

VAT registration is not required

You do not need to be VAT-registered to apply. Many perfectly healthy small companies trade below the VAT threshold and are not registered, and that is completely fine — being registered (or not) is neither a requirement nor a tick in your favour. What matters is the four points above, not your VAT status.

How the six-month trading rule works

The trading-time threshold is a minimum of six months. The key point is that this runs from when the company genuinely started trading — taking on customers, making sales, moving money through its business account — rather than from the day it was incorporated. A company can be registered at Companies House for a while before it actually begins to trade, and it is the trading that we count.

The reason for the threshold is simple: a short run of real trading gives us enough to look at to make a fair, evidence-based decision about what the business can afford. A company that started trading only a few weeks ago has very little history to assess, which is why we ask for at least six months. If you are not quite there yet, the position can change as your trading history builds.

What else we look at (and what we don't)

Meeting the four requirements means you can apply; it does not, on its own, guarantee an offer. Once you apply, we assess the company's affordability from its bank activity and a credit check on the business, so that any amount we offer is one the business can comfortably manage. We explain what goes into that in what we look at when we decide, and how long it takes in how quickly will I get a decision.

Just as importantly, here is what we do not require: there is no minimum turnover figure to clear, no need to be VAT-registered, and no personal guarantee from any director — the company is the borrower, and the loan is not a personal debt on your own credit file. We are an exempt business lender under Article 60B of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001: we lend to companies for business purposes, which sits outside FCA consumer-credit regulation, so this is not consumer credit and the Financial Ombudsman Service and FSCS do not apply.

Who this is and isn't for

If you trade as a sole trader, you cannot apply as structured, because a sole trader is not a separate legal entity from the individual — the borrowing would in effect be to you personally, which is a different kind of lending we do not provide. The eligibility difference between limited companies, LLPs and sole traders, and why the legal structure matters, is explained in full in limited company, LLP or sole trader: lending eligibility compared. That article is the educational background; this one is the practical "can my business apply?" checklist.

If you would like more on the kind of lender we are and the products available, see what kind of lender is Credicorp.

Ready to check your own business

Run your business through the four requirements at the top: UK limited company or LLP, at least six months trading, a UK business bank account, and a genuine business purpose — with VAT registration not needed. If you meet all four, you are eligible to apply, and the decision then turns on the company's affordability. If you want to get everything together first, what documents you need to apply walks through the up-front checklist.

See also: Can a newly formed company apply?, Can a charity or charitable company apply?, Can a CIC or community interest company apply?.

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When you apply, we need to see how the company's main bank account behaves over roughly the last six months. There are two ways to share that, and people often ask which to pick. The honest answer is that both lead to the same decision — the difference is mostly speed and preference. Here is how to choose.

The two routes, side by side

• Open Banking (read-only). Where it is offered, you authorise a regulated provider on your own bank's login screen, and the statements come straight to us. It is the quickest route and there is nothing to upload or mistype. It is read-only — it cannot move money — and you can switch it off at any time.
• Upload statements yourself. You download PDF or CSV statements from your bank and add them to the application. This is fully supported and, for many applicants, the default. It works even if your bank does not support Open Banking, or you simply prefer not to connect.

Which should you choose?

Choose Open Banking if you want the fastest path and you are happy to authenticate with your bank — it keeps the same-day-decision window as wide as possible. Choose uploading if your bank does not offer Open Banking, the connection will not complete, you do not have online banking, or you would simply rather share the files yourself. Neither choice counts for or against you; we read the same six months either way, and we never move money from the account.

If you upload, what we need

• The last six months of statements on the business account the loan would be paid to.
• Complete months, downloaded directly from your bank as PDFs or CSVs — not screenshots or photographs.
• Uploaded into the application at the step provided.

Uploaded statements take a little longer to process than a live connection, which is the only practical trade-off. If your bank only lets you download a few months at a time, upload what you have and tell us — we will follow up rather than block the application. See what happens if you cannot connect your bank.

Is Open Banking safe, and can I revoke it?

Yes on both. We never see your banking password, the access is read-only, and every provider is FCA-regulated. A connection lasts up to 90 days before it must be renewed, and you can revoke it instantly from your portal or your bank's app, with no effect on a loan you have already signed. See what Open Banking is and is it safe and how consent and revocation work.

What we do with what we see

However you share them, the statements are read and categorised to assess the company's affordability — see what information goes into a lending decision and how we verify bank statements. We are reading the account, never moving money from it.

See also: Can a newly formed company apply?, Can a charity or charitable company apply?, Can a CIC or community interest company apply?.

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If your company is marked dormant at Companies House, it is unlikely to qualify for borrowing until it is genuinely trading again. We lend to support active businesses, so we need to see real trading activity behind an application.

What "dormant" means here

A dormant company has no significant accounting transactions during a period. With nothing flowing through the business, there is very little for us to base a lending decision on. The same is true of a company that has been incorporated but has not yet started to trade.

If your company has just become active

A company that has recently moved from dormant to actively trading can apply. The key is that there is genuine activity now. We look at recent money movement, the purpose of the funds, and your current Companies House details.

• Make sure your Companies House status reflects that you are trading.
• Be ready to show recent business bank activity.
• Have a clear reason for the borrowing.

Good to know

We do not take personal guarantees from directors or members. This is exempt business lending, outside the FCA consumer regime, so it is not covered by the Financial Ombudsman Service or FSCS. If you are turned down while dormant or only just active, it is reasonable to apply again once trading is established.

See also: Does my company's filing status at Companies House matter?, Applying as a newly incorporated company and Getting through the quiet trading slump after a busy season.

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A previous decline does not permanently bar your business from borrowing with Credicorp. We keep records of past applications, but each new application is assessed on your business's position at the time you apply, not just on what happened before.

How we treat your history

We do keep a record of earlier applications and decisions, which is normal and required. But a fresh, well-prepared application that shows genuine change in your trading can lead to a different outcome. The earlier decision is context, not a fixed verdict.

• Let your trading position move on before you re-apply.
• Keep your Companies House details accurate.
• Be honest and consistent across applications.

What we don't want to see

Resubmitting the same request repeatedly with no change does not help and tends to repeat the same result. A considered second application after real progress is far more likely to succeed. If you are approved, the rate and term are shown in your offer.

Good to know

We do not take personal guarantees from directors or members. This is exempt business lending, outside the FCA consumer regime, so it is not covered by the Financial Ombudsman Service or FSCS. You can ask us about the information we hold on your business at any time.

See also: Can a company with arrears elsewhere still apply?, How do multiple applications affect each other? and Bridging loan, term loan, or credit facility: what's the difference?.

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Applying more than once is perfectly normal, and a previous decision does not lock you out forever. What does not help is submitting lots of rushed, near-identical applications in quick succession without anything having changed.

Why repeated identical applications don't help

If nothing about your business or the request has changed, re-submitting the same application straight away is likely to lead to the same outcome. It is better to understand why a decision went the way it did and to let something genuinely change first.

• Wait until your trading position or circumstances have moved on.
• Make sure your Companies House details are current.
• Be clear and accurate about the purpose of the funds.

The better approach

If you were declined, give it time and apply again when your business has more to show, for example stronger recent trading. A considered second application is far more useful than several hurried ones. If you are approved, the rate and term are shown in your offer.

Good to know

We do not take personal guarantees from directors or members. This is exempt business lending and is not covered by the Financial Ombudsman Service or FSCS. If you keep getting the same outcome, it usually means the underlying picture needs to change, not the number of attempts.

See also: I withdrew my application — can I start again later?, Can I borrow again after repaying my loan? and Can a non-UK company or overseas director apply?.

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Many strong businesses apply between their financial year-end and the Companies House filing deadline, meaning their most recent filed accounts may be 6–18 months old. This is entirely normal and will not automatically prevent an approval.

What we use when filed accounts are out of date

When your last filed accounts are more than approximately 12 months old, we will look at:

• Management accounts: A simple profit-and-loss and balance sheet for the current trading year, even in draft form, is usually sufficient.
• Bank transaction data: Via Open Banking or uploaded statements, we can see real trading activity in the current period, which often tells us more than accounts filed many months ago.
• VAT returns: Where available, VAT returns confirm turnover figures for recent quarters.

Companies in their first financial year

If you have not yet filed your first set of accounts, we can still assess you using bank data and any management accounts you have prepared. A short trading history will affect the amount we can offer initially, but it is not an automatic barrier to applying.

Timing your application

If your year-end accounts are due to be filed imminently and they show a strong trading year, it may be worth waiting a few weeks so we can see them. That said, if you need finance now, apply now — mid-year applications are assessed every day and the gap is manageable with good supporting data.

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 documents do I need to apply?, Applying with Open Banking — what to expect.

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Yes, your Companies House record matters. We lend to UK limited companies and LLPs, so an active, accurate and reasonably up-to-date record makes your application smoother and helps us verify who we are dealing with.

What we check

We confirm that the business is a real, registered Ltd or LLP, that it is active rather than dormant or in the process of being struck off, and that the directors or members named on your application match the record.

• Your company is active, not dissolved or being dissolved.
• Directors or members are current and correct.
• Your registered details are consistent with what you tell us.

Why overdue filings can cause delays

If filings are overdue or the record looks out of date, it can slow your application down while we make sense of the position, or it can count against you. Putting your filings in order before you apply is worth the effort.

Good to know

A tidy Companies House record is not the only thing we look at; recent trading matters too. The loan is to your company or LLP, with no personal guarantees. This is exempt business lending and is not covered by the Financial Ombudsman Service or FSCS. If your record needs updating, do that with Companies House first, then apply.

See also: How long should I keep my statements for audit and Companies House?, Does a dormant or newly active company qualify? and Why a credit search is part of the decision.

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Yes — stating a clear, specific purpose for the funds strengthens your application. It is not a requirement for every product, but it gives underwriters useful context and often reduces the number of follow-up questions we need to ask.

Why purpose matters in underwriting

When we understand what the funds will be used for, we can assess whether the loan is proportionate to the need. A company borrowing to bridge a 60-day invoice payment gap presents a different risk profile to one borrowing to purchase equipment or hire staff. Matching the product to the purpose — for instance, using Credicorp Slice to spread a specific supplier bill, or Credicorp Flex for recurring operational gaps — also tends to produce better outcomes for the borrowing company.

Purposes that work well with each product

• Credicorp Slice: A specific, known invoice or bill — for example, a quarterly software licence, an agency retainer, or a trade supplier payment. Slice spreads the cost over three or four weekly instalments at a flat 6% fee.
• Credicorp Flex: Recurring operational needs where the exact timing and amount vary — payroll bridging, stock purchases, client project costs.
• Business Loan: A defined capital need with a fixed repayment horizon — equipment, fit-out costs, or a single large investment.

What to include when stating your purpose

Keep it factual: name the expenditure, give an approximate figure, and indicate the timeline. A sentence or two is sufficient. Avoid vague descriptions such as "working capital" alone — pair them with specifics, for example "working capital to bridge payment from client X, expected within 45 days."

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 strengthens a Credicorp application?, Can I apply if my company has a short trading history?, How long does a Credicorp approval decision last?

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Once you have applied, you are never left guessing. Your application moves through a small number of clear stages, and you can see the current one at any time. Here is where to look, what each stage means, and what — if anything — you need to do.

Where to see your current stage

There are two places that always show the same, up-to-date status:

• Signed in to the portal. Your application's current stage is shown on your dashboard the moment you sign in. This is the definitive view and it updates as the assessment progresses. See how to access your customer portal if you need a hand getting in.
• The email or message we send. When your stage changes — for example when a decision is ready, or when we need something from you — we send you an email or a secure message so you do not have to keep checking. The message points you back to the portal to act.

What the common stages mean

You will see one of a small set of stages. They are deliberately plain-spoken.

Received

Your application has reached us and is in the queue. Nothing is needed from you yet.

In assessment

We are working through the affordability checks — reading the company's bank activity, identity and business credit picture. This is usually the quickest stage.

Referred

A person is taking a closer look because the automated assessment did not land on a clean yes or no. This is not a decline — see below.

Offer ready

We have an offer for you to review in the portal. Take your time reading the terms before you accept.

Declined

On the information available, we did not think the borrowing was right for the company at this point. We tell you why, and you have options.

How long a decision takes

Decisions are fast because we are the lender, not a broker — your application is assessed by us directly rather than being passed around the market. For a UK limited company with a connected bank account and a clean profile, an outcome can arrive within minutes; a referral to a credit officer can take up to a working day. For the full breakdown of timing by route, see how quickly will I get a decision?

If your application is referred

A referred stage means a member of the team is taking a closer look — often we just need one more piece of information to say yes with confidence. It is not a rejection, and it is not a mark against you personally. For what happens during a referral and how you can help it along, read what 'refer' means and what happens next.

If we ask for more information or a document

Sometimes the quickest way to move an application forward is for us to confirm a detail or read a document. If you see a request like this in the portal, acting on it promptly is usually what unblocks your decision. For exactly how to provide what we have asked for, see how do I send you a document you asked for.

If the application is declined

A decline is not a dead end. We give you a clear, specific reason rather than a vague rejection, and where the decision was made by automated means you have the right to ask a person to review it. You can also apply again — there is usually a short cooldown first, which exists to protect the company from borrowing it cannot comfortably afford. The detail is in two articles:

• What happens if your application is declined — the reasons, your right to human review, and what to improve.
• The 30 to 90 day reapply cooldown, explained — how long the wait is and how to use it well.

See also: Can a newly formed company apply?, Can a charity or charitable company apply?, Can a CIC or community interest company apply?.

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During your application you choose between Credicorp Flex and Credicorp Slice. The best choice is the one that matches how your business actually needs to use the money, so it helps to start from the purpose.

Start with what you need

• Do you need one defined amount, or ongoing flexibility over time?
• Is the cost a one-off, or does it rise and fall with your trading?
• How does your cash flow behave across the year?

We explain the difference as you go

At the point where you select a product, we set out clearly how Flex and Slice work so you can decide with the facts in front of you. The rate, term and repayments in your offer are specific to your business and to the product you choose.

Not sure?

If you are unsure, describe what the finance is for and ask us. We would rather help you land on the right fit than have you take a product that does not match the job. Nothing is committed until you review and accept your offer.

Both are business finance for UK limited companies and LLPs, with no director personal guarantee, outside the consumer-credit regime and not covered by the Financial Ombudsman Service or FSCS.

Useful related articles include Credicorp Flex and Credicorp Slice explained, whether to apply for Flex and Slice at the same time and whether you can have more than one offer.

See also: Can a newly formed company apply?, Can a charity or charitable company apply?, Can a CIC or community interest company apply?.

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Under the UK GDPR you have the right to ask for a copy of the personal information we hold about you, and to ask us about how we use it. The formal name for this is a Subject Access Request (SAR).

How to ask

Three equally good routes:

• Inside the customer portal, on the Support tab, choose "Get a copy of my data".
• Use the General Support Enquiry form and write that you want a SAR.
• Email our privacy team directly using the address on our Contact Us page.

What you receive

A copy of the personal information we hold about you, the categories of recipients we have shared it with, the retention periods that apply, and a clear pointer to your other data rights (correction, deletion, restriction and objection). The information is sent securely.

Timeframe and cost

We will respond within one month. Where a request is complex we may extend this by up to two further months, telling you why. There is no charge for a reasonable request.

Identity check

For your protection we confirm your identity before releasing personal information. If we already have a verified record of you (you have applied for or held a loan with us), this is usually quick. For requests that come in cold we may need an additional document — we will tell you exactly what.

See also: How do I request a copy of my data?, How do I make a data subject access request?, How do I request a statement of account?.

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Sometimes, during or shortly after your application, we ask for a specific document so we can confirm a detail and move your case forward. This is a normal part of the process and usually means we are close to a decision rather than turning you away. This article explains where a genuine request appears, how to send the document safely, and what happens once it reaches us.

Where a genuine request appears

If we need something from you, the request shows up in two places you can trust: as a task or notice inside your portal when you sign in, and as a secure message on your account. We may also send a short heads-up by email or text to let you know there is something waiting — but that heads-up will only ever ask you to sign in to your portal in the normal way. It will never contain a link that takes you straight to a login or upload page, and it will never ask you to reply with the document attached.

What we ask for depends on what needs confirming. Common examples include:

• Proof of identity for the director applying — for example a current passport or UK driving licence.
• Proof of address — such as a recent utility bill or bank letter showing your name and address.
• A bank statement for the company's main business account, where we need a particular month or a complete document we could not read automatically.
• Company evidence — for instance confirmation of your role, or a document tying the application to the limited company or LLP that is borrowing.

The exact item, and the reason for it, will be stated in the request itself when you sign in. If you are ever unsure whether a request is genuine, do not act on the message in front of you — open your portal directly and check there.

How to send it securely through your portal

Always send the document through the portal, where the upload is encrypted and attached straight to your case. Please do not send documents as attachments to an ordinary email: regular email is not secure, it is easy to misaddress, and it separates your file from your application.

1. Sign in to your portal directly. Type the address yourself or use a link you have saved — not a link from a message you have just received.
2. Open the request. Go to the task, notice or secure message that names the document we have asked for, so the upload is matched to the right item.
3. Upload the file. Choose the document from your device and attach it at the step provided. You will see a confirmation once it has been received.
4. Check it has gone through. The request should update to show the document is with us. If it does not, try again or contact us before assuming it has arrived.

Accepted formats and getting a clear upload

For most documents a clear PDF works best — many banks and providers let you download statements and letters as PDFs directly. A clear photo or scan (such as a JPG or PNG) is fine for things like ID and proof of address. Whatever the format, the test is simple: we should be able to read every part of the document without guessing. These tips help your upload go through first time:

• Show the full document in frame. Capture all four corners and the whole page — nothing cut off, folded over or hidden under a thumb.
• Make sure it is in date. ID must be current and not expired; statements and bills should be recent, as named in the request.
• Keep it legible. Lay the document flat in good, even light, avoid glare and shadows, and hold the camera steady so the text is sharp.
• Send the original, not an edited copy. Do not crop out, retouch or cover any detail — an unaltered document is processed fastest.
• Prefer a direct download. For statements and letters, a PDF downloaded straight from your bank or provider is clearer and more reliable than a photograph of a screen.

If a file will not upload or is too large, contact us rather than emailing it — we would far rather help you send it safely than have it arrive by an insecure route.

How this differs from the application checklist

This is not the same as gathering everything you need before you apply. The application checklist is the standard set of things every applicant prepares up front — director ID, your company details, and the company's recent bank activity. A document request is a follow-up for one specific item, raised because something needs confirming on your particular case after you have started.

If you are at the start of the journey, or want to be ready before you begin, see what documents you need to apply and, for how we confirm the director's identity, ID verification when you apply. Those cover the up-front checklist; this article is about responding when we ask for one more thing along the way.

What happens after we receive it

Once your document is uploaded, it is attached to your case and reviewed against the reason we asked for it. In many cases a single missing item is the only thing standing between us and a decision, so sending it promptly and clearly is the quickest way to keep things moving. If what you send answers the question, your case carries on; if we still need something, we will tell you exactly what, in the same secure way.

A document request is also common when an application has been set aside for a closer look rather than given an instant yes or no. If that applies to you, what 'refer' means and what happens next explains the review and how supplying the requested item helps us reach a decision.

Staying safe: what we will never ask for

Sending documents to a lender is exactly the kind of moment scammers try to imitate, so it is worth knowing our firm lines. We will never ask you for your PIN, your online-banking or portal password, or a one-time security code — not by phone, text, email or any link. We will never tell you to move money to a "safe account", and we will never need your password to receive a document. A document goes up through your portal; a password or code never needs to leave you at all.

See also: Can a newly formed company apply?, Can a charity or charitable company apply?, Can a CIC or community interest company apply?.

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If your company or LLP has more than one application in progress, or an existing facility plus a new request, we look at the whole picture rather than each one in isolation. The goal is to make sure any combined borrowing remains affordable and responsible.

We assess the combined position

Two requests that each look fine on their own might be too much together. By considering everything in play, we avoid approving borrowing that would overstretch the business. This is part of lending responsibly.

• Existing facilities and how they are being repaid.
• Any other application currently open.
• The total the business would be committed to.

Keep it simple where you can

It is usually clearer to focus on one well-defined request at a time. Several overlapping applications can be harder for you to track and do not improve your chances. Where borrowing is approved, the rate and term for each are shown in that offer.

Good to know

Each facility is to your company or LLP, with no personal guarantees from directors or members. This is exempt business lending, outside the FCA consumer regime, so it is not covered by the Financial Ombudsman Service or FSCS. If you are not sure how much your business can sensibly take on, talk to us before applying again.

Related articles cover applying for a second loan while repaying the first, having more than one loan with us and whether applying more than once hurts your chances.

See also: Can a newly formed company apply?, Can a charity or charitable company apply?, Can a CIC or community interest company apply?.

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Our decision is about whether the finance is right for your company and whether the company can comfortably repay it. We look at the business as a whole rather than at any one figure in isolation.

What we consider

• How your company trades, based on Open Banking data or statements
• Business credit information held about the company
• Confirmation of the company and its officers at Companies House
• What the finance is for and whether the product suits that purpose

Responsible lending

We want finance to help your business, not stretch it. That means we may decline, or offer something different from what you asked for, if that is the more sensible outcome for the company. A considered decision protects both sides.

What we do not do

We do not take personal guarantees from directors, and we do not base the decision on directors' personal finances as security. The borrower is the company. We will explain the headline reasons behind a decision where we can.

Because this is business lending outside the consumer-credit regime, it is not covered by the Financial Ombudsman Service or FSCS. The rate, term and repayments in any offer are specific to your business and shown to you before you commit.

For the main inputs to a decision, see how Open Banking speeds up an application, what documents we may ask for and why an application may be declined.

See also: Can a newly formed company apply?, Can a charity or charitable company apply?, Can a CIC or community interest company apply?.

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Open Banking lets you securely share your business bank account information with us, with your explicit permission, through your bank's own secure login. It is one of the biggest factors in how quickly we can assess your application.

Why it is faster

• We see verified, up-to-date transaction data straight away
• There is no need to download, redact and upload statements
• Fewer follow-up questions, because the picture is already clear
• Less chance of mismatched or out-of-date documents

What we look at

We use the data to understand your company's trading: money in and out, regular commitments and how the business is performing. This helps us shape an offer that genuinely fits your cash flow rather than relying on broad assumptions.

You stay in control

You authorise the connection through your bank, you can see what you are sharing, and you can withdraw consent. We only access the information needed to assess and manage your finance. Connecting is read-only: it does not let us move money from your account.

If you would rather not use Open Banking, you can upload statements instead, though this can take a little longer to review. This is business lending outside the consumer-credit regime, so the Financial Ombudsman Service and FSCS do not apply.

For related guidance, read what Open Banking is and whether it is safe, whether to upload statements or connect by Open Banking and how we decide whether to lend.

See also: Can a newly formed company apply?, Can a charity or charitable company apply?, Can a CIC or community interest company apply?.

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Speed depends largely on how quickly we can verify your company's financial position. For most established limited companies connecting via Open Banking, same-day decisions are common. If we need additional information, a decision typically follows within one to two business days.

Stages of the application

• Online form: Takes around 10–15 minutes to complete.
• Bank data review: Automated if you use Open Banking; a few hours longer with uploaded statements.
• Decision: You will receive confirmation by email and in your Credicorp dashboard.
• Agreement and funding: Once you accept the terms and the agreement is signed, funds are typically released the same or next business day.

What can slow things down?

Applications that require additional documents, have a very short trading history, or involve a larger facility may take longer. See our article on what slows an application down for the full list of common causes.

Credicorp Slice is faster still

For a Slice application — spreading a single bill over three or four weekly instalments — the process is even shorter because the amount and purpose are fixed from the outset. Upload or forward the invoice and you can usually have an answer within the hour.

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 slows down a business finance application?, Applying with Open Banking — what to expect.

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A Credicorp approval is typically valid for a defined window after the decision is issued. If you do not draw down within that window, the approval lapses and a fresh assessment is required. The exact duration is stated in your approval notification.

Why approvals have an expiry

Business circumstances change quickly. An approval is based on the financial position of your company at the point of assessment — including your current credit profile, revenue, and outstanding obligations. After a few weeks, that snapshot may no longer be accurate, and it would be unfair to both parties to hold open a commitment that is no longer grounded in current data.

What to do if your approval is close to expiring

If you received an approval but have not yet drawn down, contact us before the expiry date. In many cases we can refresh the assessment quickly, particularly if nothing material has changed in your company's position. Do not assume the approval renews automatically — it does not.

What changes can void an approval before expiry

• A CCJ registered against the company after the approval date.
• A change in director or company structure that was not disclosed at application.
• A significant deterioration in your bank account activity.
• Entering a formal insolvency process.

If any of these apply, notify us before drawing down. Drawing on an approval where a material change has occurred without disclosure can have consequences for the facility.

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?, Can my company apply while it is mid-restructure?

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There is no fixed lockout period after a declined application. You can apply again, but the right time to do so is when something about your business has genuinely changed, rather than the day after a decline.

Wait for something to change

A second application is most worthwhile when the picture we assess has moved on. Re-applying immediately, with the same information, usually leads to the same result and is not a good use of your time.

• A few more months of solid trading activity.
• A clearer or more modest borrowing purpose.
• Corrected or updated Companies House details, if something was out of date.

How to make the next application stronger

Before you re-apply, think honestly about why the first request did not succeed and what you can show now that you could not before. Sharing recent business bank activity through our secure process helps us see the current position. If you are approved next time, the rate and term are set out in your offer.

Good to know

We do not take personal guarantees from directors or members. This is exempt business lending, outside the FCA consumer regime, so it is not covered by the Financial Ombudsman Service or FSCS. If you are unsure whether enough has changed to re-apply, it is usually worth waiting a little longer.

See also: How soon after incorporation can we borrow?, The 30–90 day reapply cooldown, explained, Can my business have more than one loan with you at once?.

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This is one of the first things people want to know, and the honest answer has two parts: there is the range we lend within, and there is the amount you are actually offered — which is set by what your company can comfortably afford, not by the top of the range. This article explains both, the difference between a one-off Business Loan and a Credicorp Flex limit, what drives the figure we put in front of you, and how repaying on time can grow what's available the next time you come back.

A one-off Business Loan: small amounts, short terms

The standard Credicorp product is a single short-term Business Loan. It is deliberately small and deliberately short — designed for a specific, near-term business need such as covering a supplier, smoothing a timing gap before a customer pays, or handling a one-off cost. Terms run over a short window measured in days, anywhere from 14 to 84 days, and the loan is repaid across that window on a schedule you see in full before you sign.

For the headline range — the smallest and largest amounts, and the shortest and longest terms — see the figures on our main site at Business Loans. We keep the exact numbers on one authoritative page so they are always current. This is short-term working-capital borrowing; for larger sums a mainstream SME lender is usually a better fit, and we will say so rather than stretch a product that is not designed for it.

Credicorp Flex: a limit, not a lump sum

Flex is shaped for a different need. Instead of a single amount over a set term, Flex is a revolving credit limit: an agreed ceiling you can draw against, pay down, and draw against again, repeatedly, without reapplying each time. You are charged only for what you actually draw and hold, not for the headroom you leave unused.

A Business Loan amount

A single sum advanced once, repaid over a fixed short term. When it is paid off, the loan is closed — there is nothing to draw again without a fresh application.

A Flex limit

A reusable ceiling. You can take part of it, repay, and take more again as your needs ebb and flow. The limit is the maximum you can owe at any one moment, not a lump sum you must take all at once.

So "how much can I borrow" means slightly different things across the two products. On a Business Loan it is the size of the single advance; on Flex it is the limit you can revolve within. If you are weighing the two, see Flex vs a one-off Business Loan: which to choose.

What sets the amount we offer

This is the part that matters most, and it is the same principle for both products: we lend up to what the company can comfortably afford, judged against its cash flow — not automatically the maximum of the range. The range is a ceiling; affordability is what sets your figure within it.

When we assess an application we are reading the shape of the business's money: the regular income coming in, the outgoings and existing commitments going out, how steady that pattern is, and how much genuine headroom there is to take on a new repayment without strain. A company with strong, steady cash flow may be offered toward the upper end of the range; a tighter or more variable picture may mean a smaller amount, or a shorter term, so the repayment sits comfortably within what the business can manage.

Because every offer is affordability-led, two superficially similar companies can be offered different amounts, and the same company can be offered different amounts at different times as its circumstances change. Whatever the figure, you see the amount, the term, the repayment schedule and the total cost of the credit in full before you commit — nothing is hidden until after you sign.

How on-time repayment can grow what's available next time

Your track record is part of the picture, and it works in your favour. Repaying on time is the clearest signal a business can give that it manages credit well, and a strong, demonstrated history of affordability can mean a larger amount becomes available the next time you apply. The reverse is also true — a tighter cash-flow picture can mean less — because we are always lending up to what the company can comfortably afford at the time.

Nothing here is automatic or guaranteed: there is no fixed ladder, and every offer is freshly assessed and shown in full before you commit. But a clean repayment record is genuinely the best thing you can do to widen what's open to you. For the detail, see how on-time repayment grows your available amount.

Where your own figures live

This help centre is account-blind by design — we cannot see your application, your limit or your offer from here, and we deliberately keep no account figures in these pages. Anything specific to you — the amount you have been offered, your Flex limit, your remaining headroom, your schedule — lives only in your signed-in portal and on the documents issued with your agreement, where it is kept accurate to your account. If you want to discuss what might be possible before applying, use the General Support Enquiry form.

See also: Can a newly formed company apply?, Can a charity or charitable company apply?, Can a CIC or community interest company apply?.

Open this answer →

We focus on recent, real trading activity rather than insisting on a fixed number of years in business. The aim is to understand how your company or LLP trades today and whether the borrowing makes sense for you.

Recent activity matters most

The most useful picture comes from how money has been moving through your business lately. That tells us more than the headline age of the company. A business that has traded for a long time but has gone quiet, and a newer business that is trading strongly, are very different situations, and we treat them that way.

• Recent business bank activity, shared securely.
• The purpose of the funds and how the business will use them.
• Your current Companies House status as a Ltd or LLP.

Why we don't just count years

A single fixed rule, such as a set number of years trading, would unfairly exclude businesses that are doing well. By looking at the substance of your trading we can make a fairer decision. If you are approved, the rate and term are set out in your offer.

Things to remember

We do not take personal guarantees. This is exempt business lending and is not covered by the Financial Ombudsman Service or FSCS. If your trading history is thin today, building up a few more months of activity before re-applying can strengthen your position.

See also: Can a newly formed company apply?, Does a dormant or newly active company qualify?, What credit score do I need for a business loan?.

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Decision speed depends on which route the application takes and how clean the inputs are.

The fastest case

An applicant who is a UK limited company, connects via Open Banking, has clear ID and a clean credit profile, and whose bank statements pass our affordability rules cleanly, can expect a decision within minutes. That is the design target of the application flow and it is achievable for most customers.

PDF upload

Where statements are uploaded as PDFs instead, the processing adds time. Allow a few hours within working hours.

Human review

Where the file is referred to a credit officer — because the score is borderline, because there are vulnerability signals, because the situation is unusual, or because we need to ask a question — allow up to one working day. We will keep you updated in the portal at every step.

Out-of-hours

Applications submitted out of hours are queued. The automated steps still run, so the application can be ready for the credit officer to act on first thing the next working morning.

See also: How long does a lending decision take?, Can I withdraw my application before a decision?, Do all directors need to approve the application?.

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There is no fixed minimum age your company has to reach before it can borrow from us. We do not wait for a particular number of months on the clock, and we do not require a set of filed annual accounts at Companies House before we will look at an application. What we need is enough of a picture to lend responsibly, and a newer company can often give us that sooner than people expect.

It is about trading, not the incorporation date

The day your limited company or LLP was registered tells us very little on its own. A business incorporated last week and a business incorporated two years ago can both be in the same position if neither has moved much money yet. So rather than counting from the incorporation date, we look at how the business actually operates: money coming in, money going out, and whether the borrowing makes sense for where you are now.

How Open Banking stands in for filed accounts

A brand-new company will not have a year of filed accounts, and that is fine. When you connect your business bank account by Open Banking, we can see real, current trading activity directly — often far more up to date than accounts that describe a period already months in the past. A few weeks of genuine activity through your business account can tell us more than a first set of accounts would. This is why connecting your bank is the single most useful thing a young company can do, and you can read more in How does Open Banking speed up my application?

So how soon, in practice?

You can apply as soon as the business is genuinely trading through its own bank account. If the company has been incorporated but has not started trading at all, there is little for us to assess yet, and a dormant or barely active company is harder to lend to — see Does a dormant or newly active company qualify? The honest answer is that the trigger is activity, not age. Once money is moving in a way that reflects a real business, you are in a position to apply.

What we look at for a young company

• Active, current trading visible through Open Banking — the strongest signal for a new business.
• An accurate, up-to-date Companies House record for the company and its directors or members.
• A clear, sensible purpose for the finance that fits the stage your business is at.

We do not need a long track record, but we do weigh whatever history exists. For more on that, see How much trading history do you look at?

If it is too soon right now

If your company is so new that there is almost nothing to see, we may not be able to make an offer yet. That is not a permanent no — building even a short run of real trading through the business account usually makes a later application stronger. We never ask a younger business to make up for thin history with a director personal guarantee, because we do not take personal guarantees at all.

We lend only to UK limited companies and LLPs, not to sole traders or individuals, and we are a lender rather than a broker. For who can apply, see Which business types can apply to Credicorp? As exempt business lending outside the FCA consumer-credit regime, this finance is not covered by the Financial Ombudsman Service or FSCS.

See also: Can a newly formed company apply?, Can a charity or charitable company apply?, Can a CIC or community interest company apply?.

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If you have applied with us before — and the previous loan was managed in good standing — we treat that as the starting point for a fresh application, not as a blank page. The full new-customer flow is not needed.

What is re-used

• Your identity and director details, with a quick confirmation that nothing has changed.
• The company details, with a quick check against Companies House to refresh anything that has.
• Your contact information, where you have asked us to keep it.

What we still need

• Fresh bank statements (or a fresh Open Banking connection) covering the most recent six months — affordability is always assessed on current data.
• Confirmation of the new loan purpose and the amount you want to borrow.
• A new Key Information Sheet (KIS) and a new Business Loan Agreement to sign — every loan is its own agreement, even if the company is the same.

The whole returning-customer flow typically takes a few minutes inside the portal, and the decision tends to be quicker because the picture is already familiar to our credit team.

See also: How to apply for a Credicorp loan, step by step, What information do I need to apply for Slice? and Do I need to be VAT-registered or trading a certain time to apply?.

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An offer from Credicorp is not a commitment. If you decide the borrowing is not right for your business, you do not have to accept it. You can let the offer lapse or tell us you do not wish to proceed.

You're in control until you accept

Until you formally accept an offer, nothing is drawn down and your company or LLP takes on no obligation. There is no penalty for declining an offer you have been given.

• You can let the offer expire without doing anything.
• You can tell us directly that you are declining it.
• You can ask questions first if something is unclear.

If you might want it later

Offers are time-limited, so an offer you decline now may not be available later on the same terms. If your circumstances change, you can apply again, and any future offer will reflect the position at that time, with the rate and term shown in that offer.

Good to know

Because the loan would be to your company or LLP and we take no personal guarantees, declining an offer has no personal consequences for directors or members. This is exempt business lending and is not covered by the Financial Ombudsman Service or FSCS. If you are hesitating because of the cost, look closely at the figures in your offer before deciding.

See also: Why don't you take a personal guarantee from directors?, What happens after I accept my offer?, How to read your offer document before you accept.

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Withdrawing an application does not stop you applying again in future. If your needs change, or you simply were not ready before, you are welcome to start a new application when the time is right for your company or LLP.

Starting again after a withdrawal

A new application is assessed on your business's position at that time. If some details are still on file from before, you may not have to start completely from scratch, but you should expect to confirm that everything is current.

• Check your Companies House details are up to date.
• Be ready to share recent business bank activity again.
• Have a clear, current purpose for the funds.

Why a fresh look matters

Because we lend based on your current trading, an application a few months after a withdrawal reflects how the business is doing now, not how it was before. That can work in your favour if trading has improved. If you are approved, the rate and term are shown in your offer.

Good to know

We do not take personal guarantees from directors or members. This is exempt business lending, outside the FCA consumer regime, so it is not covered by the Financial Ombudsman Service or FSCS. If you only paused rather than fully withdrew, ask us whether your earlier application can simply be resumed.

See also: What happens when payments resume after a pause?, Does applying more than once hurt my chances? and What a referred application means.

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When you apply, you share information about your company so we can assess and manage the finance. Protecting that information is something we take seriously, and you stay in control of what you share.

What we collect

• Company details, confirmed against Companies House
• Business bank account information, where you connect by Open Banking or upload statements
• Contact details for the people managing the application

How we use it

We use your information to make a lending decision, set up and run your facility, meet our legal obligations and keep your account secure. We do not use it for purposes you would not expect from a business lender.

Open Banking consent

Open Banking connections are made through your bank's own secure login, with your explicit permission. The connection is read-only, so it cannot be used to move money from your account, and you can withdraw consent.

Your rights

You can ask for a copy of the information we hold about your company and the people connected to it. Because we lend to limited companies and LLPs for business purposes, this finance sits outside the consumer-credit regime and is not covered by the Financial Ombudsman Service or FSCS. Our handling of personal data is still governed by UK data protection law.

See also: How Credicorp protects your company's data, Keeping your devices secure for business finance, Can a CIC or community interest company apply?.

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This comes up a lot before applying: "is my turnover high enough?" The short answer is that there is no minimum turnover figure to clear. We do not publish a revenue threshold, and you will not be turned away because your sales sit below some number. What we look at instead is whether your business meets a few plain eligibility points, and then whether the borrowing is affordable against how the company trades.

Why there is no turnover threshold

A single fixed turnover rule would be a blunt instrument. Two companies can report the same annual figure and be in completely different shape: one steady and comfortable, the other stretched thin. A flat threshold would wave the second one through and shut the first one out — the opposite of a fair decision. So rather than asking "is your turnover above £X?", we look at how money actually moves through the business and whether a new repayment would sit comfortably within that. Turnover is one signal among several, not a gate you pass or fail at the door.

What actually decides whether you can apply

Eligibility comes down to a handful of plain points rather than a revenue figure:

• The borrower is a UK limited company or LLP registered at Companies House. We lend to the company, not to you as an individual, and take no personal guarantee.
• The business has a short run of real trading behind it, so there is enough recent activity to assess — this is about genuine trading, not the company's age.
• The company holds its own UK business bank account, in the company's name, so we can see how it trades and how a loan would be funded and repaid.
• The borrowing is for a genuine business purpose — stock, a supplier bill, equipment, a short cash-flow gap — not personal spending.

Notice what is not on that list: a minimum turnover, VAT registration, or a flawless credit file. For the full checklist, including how the trading-time point works, see do I need to be VAT-registered or trading a certain time to apply.

Affordability, not a revenue figure

Meeting those points means you can apply; it does not, on its own, guarantee an offer. Once you apply, we assess the company's affordability from its bank activity and a check on the business — the income in, the outgoings out, how steady the pattern is, and how much room there is to take on a repayment without strain. A modest but steady cash flow can support borrowing well; a larger but erratic one might support less. More on how that works is in how do you decide whether to lend to my business.

What this means for the amount you are offered

Because every offer is affordability-led, the figure we put in front of you is set by what the company can comfortably manage — not by your turnover, and not automatically by the top of our range. A strong, steady picture can mean more is available; a tighter one can mean a smaller amount or a shorter term. Whatever the figure, you see the amount, term, schedule and total cost in full before you commit. For how the range and your specific offer relate, see how much can my business borrow, and for how long.

If your trading is light right now

If your business is newer or trading quietly, you are not excluded by a turnover rule — but a thin recent history gives us less to assess, which can mean a more cautious offer or none yet. A few more months of real activity before applying can strengthen your position. We weigh recent activity more heavily than the company's age, as explained in how much trading history do you look at.

The kind of lending this is

Credicorp lends to UK limited companies and LLPs for business purposes, with the company as the borrower. This is exempt business lending under Article 60B of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 — not regulated consumer credit, not covered by the Financial Ombudsman Service or the Financial Services Compensation Scheme, and with no personal guarantee. To talk something through before applying, use the General Support Enquiry form.

See also: Can a newly formed company apply?, Can a charity or charitable company apply?, Can a CIC or community interest company apply?.

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A short trading history does not automatically rule you out. We look at how your business actually trades and manages money, not only the date your company or LLP was registered at Companies House.

What we consider for newer businesses

If your business was incorporated recently, the strongest thing you can show is genuine, current trading activity. We look at money moving through the business, the purpose of the funds, and whether the borrowing is realistic for where the business is now.

• Recent business bank activity that shows real trading.
• A clear, sensible reason for the borrowing.
• Up-to-date Companies House details for directors or members.

What can make a new application harder

If a business has only just incorporated and has little or no trading activity yet, we have less to base a decision on. That does not mean a refusal, but it can mean the offer reflects what we can see today. If you are approved, the rate and term are shown in your offer.

Good to know

We never take personal guarantees from directors or members, so a newer business is not asked to compensate with personal security. This is exempt business lending, outside the FCA consumer regime, so it is not covered by the Financial Ombudsman Service or FSCS. If you are turned down now, it is often worth applying again once you have more trading history.

See also: Can a newly formed company apply?, Applying as a newly incorporated company and How do Slice instalments actually work?.

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If your business has restructured, for example moving activity into a different limited company or LLP, your application needs to reflect the entity that exists today. The borrower must be the current, correct legal entity registered at Companies House.

Apply as the entity that exists now

We assess and lend to a specific company or LLP. If the entity that traded historically is not the one applying now, make that clear, and apply in the name of the entity that will actually use and repay the funds.

• Use the registration number of the current borrowing entity.
• Make sure directors or members match the current Companies House record.
• Be ready to explain the recent trading of the new or current entity.

How a recent restructure affects assessment

A newly used entity may have a shorter visible trading record, even if the people behind it are experienced. We look at the recent activity of the applying entity. If approved, the rate and term are shown in your offer.

Good to know

We do not take personal guarantees from directors or members. This is exempt business lending, outside the FCA consumer regime, so it is not covered by the Financial Ombudsman Service or FSCS. If a restructure is in progress, it is usually cleaner to apply once it has settled and Companies House is up to date.

See also: Can a holding company or group company apply?, What if my company's details have recently changed? and Can a non-UK company or overseas director apply?.

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The Credicorp application is designed to be straightforward. Here is the journey from start to decision so you know what each stage involves and where you might be asked to do something.

1. Tell us about your company

You enter your company details and we match them against Companies House. You also tell us the amount you have in mind and what the finance is for.

2. Choose your product

Based on what you need, you continue with Credicorp Flex or Credicorp Slice. We explain the difference so you can pick the one that fits.

3. Verify your business finances

You connect your business bank account by Open Banking, or upload statements if you prefer. This helps us understand your trading picture.

4. Review your offer

If we can lend, we present an offer showing the rate, term and repayments. The figures are specific to your business. Nothing is committed until you accept.

5. Accept and set up

When you are happy, you confirm and we arrange the funds. Because the loan is to the company, no director personal guarantee is taken.

This is business finance outside the consumer-credit regime, so the Financial Ombudsman Service and FSCS do not apply. We make this clear before you accept.

See also: What information should I have ready before I start?, Can I withdraw my application before a decision?, Our structure changed — does that affect our application?.

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Credicorp lends only for genuine business purposes. Because we are an exempt business lender, the borrowing must be for your company or LLP's commercial needs, not for personal spending. We ask what the funds are for so we can lend responsibly and stay within how we are set up to operate.

Typical business purposes

A business purpose is anything that supports the running or growth of your company or LLP. The exact list depends on your sector, but it is always about the business rather than the individuals behind it.

• Managing day-to-day cash flow and working capital.
• Buying stock, equipment or materials.
• Covering costs while you wait on customer payments.

What is not a business purpose

We cannot lend for personal use by a director or member, because that would be consumer borrowing, which is not what we provide. If a request looks like personal spending dressed up as a business cost, that can affect the decision.

Good to know

Being clear and accurate about the purpose helps us assess your application properly. The loan is to your company or LLP, with no personal guarantees. This is exempt business lending and is not covered by the Financial Ombudsman Service or FSCS. If you are unsure whether your need qualifies, ask us before you apply.

See also: Can a CIC or community interest company apply?, Can a charity or charitable company apply?, Can a company limited by guarantee apply?.

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For the majority of applications you will not need a lengthy pack of paperwork. Credicorp uses Open Banking and Companies House data to do most of the heavy lifting, but having certain documents ready will prevent delays.

Core documents for all applications

• Your Companies House registration number and registered address
• The most recent 3–6 months of business bank statements (or an Open Banking connection, which replaces these)
• Your latest filed accounts or management accounts if the filed accounts are more than 12 months old
• Details of the director(s) authorised to sign on behalf of the company

When we might ask for more

For larger facilities, or where trading history is short, we may also request:

• A brief note on the purpose of the finance (useful for Credicorp Flex drawdown requests)
• A copy of the bill or invoice you are spreading (required for Credicorp Slice applications)
• VAT returns or management accounts for the current trading year

What you do not need

Because this is company lending with no director personal guarantee, we do not ask for personal tax returns, personal bank statements, or proof of personal assets. We assess the company, not the individual behind it.

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: How long does a business loan application take?, Applying with Open Banking — what to expect.

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The fastest applications are the ones where everything is ready before you start. Credicorp's process is short, but we still need a few things to identify your company, confirm you can borrow on its behalf, and understand whether the borrowing is affordable. This is the full checklist, with the quickest option flagged for each item, so you can gather it once and apply in one sitting.

1. Proof of your identity as a director

We carry out an identity and anti-money-laundering check on the person applying. Have a current photo ID ready, such as a passport or a UK driving licence. This is an identity check, not a personal credit search, so it does not leave a footprint on or affect your personal consumer credit file. For the detail of how this works, see ID verification when you apply.

2. Your company details

Because we lend to UK limited companies and LLPs rather than to individuals, we need to identify the company on the Companies House register. The single most useful thing to have to hand is your company registration number (the eight-character number Companies House issued when the company was incorporated); with it, most company details populate quickly. We also need to know that you are authorised to borrow on the company's behalf, for example as a director.

3. Your business bank details

Have the details of the company's main business bank account ready — the account name, sort code and account number. This is the account we read to assess affordability, and the account any loan would be paid into, so it should be the one the company actually trades through, in the company's name rather than a personal account.

4. Recent company bank activity

To assess affordability we look at how that business account has behaved over roughly the last six months. There are two ways to share it, and both lead to the same decision.

• Open Banking (quickest). You authorise read-only access through your own bank. We can only see, not move, money, and you can revoke access at any time. This usually means a faster decision. To understand exactly what we can and cannot see, read how we verify your company's bank statements with Open Banking.
• Upload statements (alternative). If you would rather not connect your bank, you can upload official business bank statements as PDFs instead. This is just as acceptable; it simply takes a little longer to review, because a person checks them. For how to choose, see whether to upload statements or connect by Open Banking.

What we do not ask for

We assess the company's affordability, not yours personally. So we do not ask for your personal payslips, your household income, your benefits, or your personal bank statements. We also do not take a personal guarantee from you as a director, so you are not signing your own assets onto the company's debt. If anyone claiming to be from Credicorp asks for an upfront fee to release a loan, that is a scam: walk away.

Things that speed everything up

• Use the business account your company actually trades through, not a dormant or secondary one.
• Make sure your Companies House record is up to date, including the registered office and active directors.
• Apply as the director who is authorised to borrow, or have your co-director ready to confirm.
• Use a device with a camera if you are providing photo ID.

This checklist versus a later document request

The four items above are the standard up-front set — what every applicant gathers before they start, so the application can run in one sitting. They are not the same as a one-off document request, which is a follow-up we sometimes raise for a single specific item after you have applied, when something needs confirming on your particular case. A request like that always appears inside your portal or a secure message, never via a random link or by asking you to email a file.

A note on what comes after the documents

Once we have your identity, your company and your bank activity, we run a business credit check on the company and make a decision. If we can lend, you will see an offer with your Key Information Sheet (KIS), which sets out the amount, term, total cost of credit and the full repayment schedule before you sign the Business Loan Agreement. You can always see the current amounts, terms and costs on our business loans page first.

This borrowing is to a company for business purposes, so it sits outside FCA consumer-credit regulation under Article 60B FSMA RAO 2001 and is not covered by the Financial Ombudsman Service or the FSCS. If you want free, independent help for the business while you decide, Business Debtline (businessdebtline.org, 0800 197 6026) is a good place to start. Gather the items above and you can move through the application quickly and confidently.

See also: Can a newly formed company apply?, Can a charity or charitable company apply?, Can a CIC or community interest company apply?.

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For many applications we can verify what we need electronically, so you may not be asked for documents at all. When we do ask, it is to confirm something specific about the company. Here is what might come up.

Documents we may request

• Recent business bank statements, if you have not connected by Open Banking
• Proof of the company's trading address
• Identity confirmation for directors or designated members
• Evidence of the company's structure, such as where there are recent changes at Companies House

What we will not ask for

Because we lend to the company and take no personal guarantees, we do not ask directors for personal asset or income statements as security. We are assessing the business, not your personal finances.

Sending documents to us

If we need anything, we will tell you exactly what and why, and give you a secure way to send it. Clear, current and complete documents help us decide faster, so check that names and dates match your Companies House record before you send.

This is business finance for UK limited companies and LLPs, outside the consumer-credit regime, and not covered by the Financial Ombudsman Service or FSCS.

Before applying, check what information to prepare. If the request is about bank data, see how Open Banking speeds up your application and whether to upload statements or connect by Open Banking.

See also: Can a newly formed company apply?, Can a charity or charitable company apply?, Can a CIC or community interest company apply?.

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A soft search retrieves a snapshot of your company's credit profile — payment history, outstanding credit, public filings, and similar data — without recording a visible footprint on the file that other lenders or creditors can see. Only your company can see that a soft search was made.

What information a soft search covers

• County Court Judgements (CCJs) registered against the company.
• Current credit facilities and outstanding balances reported to business credit agencies.
• Payment performance indicators where available.
• Companies House status: active, dissolved, or struck off.
• Director and officer information cross-referenced against public registers.

It does not give us access to your bank account or tax records — those are provided separately by you as part of the application.

When does a hard search happen?

If you proceed beyond the initial assessment and we issue a formal credit decision, a hard search may be recorded. We will tell you clearly before this happens. A hard search is visible to other lenders and remains on your company's credit file for a period, so it is worth being selective about full applications. Our soft-search stage is specifically designed to let you explore your options without that commitment.

Does a soft search affect your credit score?

No. A soft search has no effect on your company's credit score or rating. You can go through our initial eligibility check repeatedly without any impact on your file.

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 strengthens a Credicorp application?, How long does a Credicorp approval decision last?, Can I apply if my company has a short trading history?

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Lending is built around the idea that you will repay. Sometimes circumstances change and that becomes harder — a lost contract, a late-paying customer, a sudden cost. When that happens, the most important thing you can do is tell us early.

What we can do

• A payment freeze for a short, agreed period while you sort things out.
• A payment arrangement that spreads the missed amount across the rest of the loan, or extends the term.
• A hardship variation for longer-term changes — see our hardship article.
• Refinancing the existing loan into new terms that better fit your current cash flow.

What you can expect

We do not apply charges that are not in your agreement. We do not chase aggressively. We do not pass the loan to a third party for collection without first trying to agree something with you. If vulnerability is in the picture, the file is routed to our customer-care team and treated according to our vulnerability policy.

Free help

Independent advice for businesses is available from Business Debtline (businessdebtline.org, 0800 197 6026). You do not need our permission to speak to them. For a full guide on the support we offer, see help if you are struggling to make a payment.

See also: Can a newly formed company apply?, Can a charity or charitable company apply?, Can a CIC or community interest company apply?.

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Credicorp is a business lender. We provide finance only to UK limited companies and LLPs for genuine business purposes. Lending of this kind falls outside the regime that governs consumer credit, which is why you will see us described as an exempt business lender.

What "exempt" means here

Consumer-credit rules are designed to protect individuals borrowing for personal reasons. Because our borrower is always a company or LLP, and the purpose is always business, that framework does not apply to our agreements in the same way.

What this means for you

• Our agreements are not regulated consumer-credit agreements
• There is no recourse to the Financial Ombudsman Service
• The finance is not covered by the Financial Services Compensation Scheme (FSCS)
• We lend to the company, and take no personal guarantee from directors

What stays the same

Being exempt does not mean we lend carelessly. We still aim to lend responsibly, present clear offers showing the rate, term and repayments specific to your business, and treat your data in line with UK data protection law. If something goes wrong, you can still raise it with us directly through our complaints process.

If you are unsure whether business finance is right for your company, take time over the decision and ask us anything before you accept.

See also: Which business types can apply to Credicorp?, Can a sole trader or ordinary partnership apply?, What is an exempt business lender?.

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The Key Information Sheet (KIS) is a short summary of your loan that we give you before anything is signed. This is business lending to a limited company, so it is not a regulated consumer document — but we use a clear, one-page summary anyway, because you should be able to see the whole deal at a glance.

What it covers

• Who the lender is and how to reach us.
• The amount the company would borrow and the term.
• The total amount payable and the total cost of the credit.
• The fees that apply and when.
• The repayment schedule.
• The 14-day withdrawal period we offer as a matter of policy, beginning the day after the agreement is signed.
• The right to settle early.
• What happens if a payment is missed.
• How to complain and where to find free, independent business debt advice.

What it does not replace

The KIS is a summary. The full terms are in the Business Loan Agreement itself, which you also see before signing. The two documents say the same things; the KIS sets them out in plain English on one page, the agreement sets them out in full.

You can download the KIS as a PDF and keep it. If you would like to talk it through before signing, please contact us — we are happy to do that on the phone or by email.

See also: What the Key Information Sheet (KIS) shows, I am a returning customer — do I need to do the whole application again?, What does Credicorp do if I become unable to pay?.

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Accepting your offer is the point at which your company commits to the finance. Up to then, nothing is binding. Once you accept, we move into setting the facility up so your business can use it.

Confirming the agreement

You confirm acceptance of the offer, which sets out the rate, term and repayments specific to your business. Because the borrower is the company, the agreement is between Credicorp and your limited company or LLP, and no director personal guarantee is taken.

Setting up the facility

• We finalise the details and prepare the account
• We confirm where funds will be sent, normally your company's business account
• We set out how and when repayments will be collected

Receiving the funds

Once setup is complete, we arrange for the funds to reach your business. The exact timing depends on the product and your bank.

Managing the account

From there you can manage the facility through your account, where you will find your statements and repayment details. If anything changes for your business, contact us early.

This is business finance outside the consumer-credit regime, so it is not covered by the Financial Ombudsman Service or FSCS.

See also: What happens after you accept an offer, I have an offer but don't want to go ahead — what now?, Why might an application be declined?.

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Where Open Banking is offered it can be the quickest route, but it is optional and never the only route. Uploading your statements yourself is fully supported — for many applicants it is the default. If you are not using Open Banking — your bank does not support it, the connection failed, you would rather not, or you do not have online banking — you can upload PDF or CSV statements straight into the application.

What we need

We need the last six months of statements on the business bank account that the loan would be paid to. They should be:

• downloaded directly from your bank as PDFs (not screenshots and not photographs);
• complete months, not partial windows;
• uploaded into the application — there is a step for this.

What happens next

Once uploaded, the statements are read and categorised by our system in the same way as Open Banking data, and the decision continues from there. The only practical difference is timing: PDF processing takes a little longer than a live connection, so the same-day-decision window is narrower.

If you have a partial set of statements (for example because the bank only lets you download three months in one go), upload what you have and use the in-application chat to tell us. We will follow up rather than block the application.

See also: Do I upload bank statements or connect by Open Banking?, How long does a lending decision take? and How we verify your company's bank statements with Open Banking.

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Many businesses use a trading name that is different from their registered company or LLP name. That is completely normal, and it does not stop you applying. The important thing is that the application is in the name of your registered legal entity at Companies House.

Registered name versus trading name

Your registered name is the official one on the Companies House record and on your loan agreement. Your trading name is what customers might see day to day. We lend to the registered entity, so that is the name and registration number we need.

• Apply using your registered company or LLP name and number.
• You can tell us your trading name so things match your bank activity.
• Make sure your directors or members match the registered record.

Why this avoids delays

If your bank statements or paperwork show a trading name, letting us know how it links to the registered entity helps us reconcile everything quickly. Mismatches that are not explained can slow the assessment.

Good to know

The loan is to the registered company or LLP, with no personal guarantees from directors or members. This is exempt business lending and is not covered by the Financial Ombudsman Service or FSCS. If your offer is approved, the rate and term are shown there.

See also: Can a co-director apply with me?, Our structure changed — does that affect our application?, Updating your registered company details.

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We confirm your company against the Companies House register, so if your business has recently changed name, address, or its directors or members, those changes need to be reflected on the register for our checks to match cleanly.

Changes that can affect an application

• A new company name
• A change of registered office or trading address
• Appointing or removing a director or designated member
• Changes to persons with significant control

Update the register first

Where you can, file the change at Companies House and let it appear on the public record before you apply. If what you enter does not match the register, our verification can stall and we may come back to you for confirmation.

If a change is still in progress

If a change has been filed but not yet shown, it is usually best to wait until it appears. If timing matters, contact us and explain the situation so we can advise on the right moment to apply.

Keeping your record accurate also protects your company, by making it harder for anyone to apply in your name without authority. This is business finance for UK limited companies and LLPs, outside the consumer-credit regime and not covered by the Financial Ombudsman Service or FSCS.

See also: Updating your registered company details, Our structure changed — does that affect our application? and How arrears affect your company's future borrowing with us.

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You do not need to prepare a thick folder of paperwork to apply. Most of what we need we can verify electronically. Still, having a few details to hand keeps things moving and reduces the chance we come back to you mid-decision.

About your company

• Your registered company name and Companies House number
• Your registered office and trading address
• The nature of your business and what the finance is for

About the people

• Details of directors or designated members, matching Companies House records
• Contact details for whoever will manage the account

About your finances

• Access to your business bank account, ideally one you can connect by Open Banking
• An idea of the amount and the purpose, so we can match you to Flex or Slice

We do not ask for personal guarantees and we lend to the company, so you will not need personal asset statements from individual directors. If we need anything extra after you apply, we will tell you exactly what and why. Because this is business finance outside the consumer-credit regime, the Financial Ombudsman Service and FSCS do not apply, and we set that out during the journey.

See also: What information do I need to apply for Slice?, What information do I need to apply for Flex? and What's the difference between applying as a Ltd and an LLP?.

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Open Banking is a UK-regulated framework that lets you give a regulated firm permission to do one of two things with your bank account: read your statements (an AISP service) or initiate a payment on your behalf (a PISP service). It was introduced by UK competition rules and is supervised by the Financial Conduct Authority.

How we use it

Where it is offered, you can choose to connect your account through Open Banking read-only, via a regulated AISP, so we can look at your business bank statements. It sits alongside — it does not replace — uploading your statements yourself, which is a fully supported route and the default way to share them. If you connect, the information we see is the same as an upload — six months of transactions on the business account — but it comes straight from your bank, so there is nothing to upload and nothing to mistype.

Is it safe?

• You authorise the connection through your own bank's login screen. We never see your banking password.
• The connection is read-only. An AISP cannot move money out of your account, even if it wanted to.
• You can revoke the connection at any time, either inside our portal or directly in your bank's app.
• Every regulated AISP is on the FCA register and has to meet strict security and conduct rules.

You can always upload instead

Open Banking is optional, and it is only available on some applications. Uploading your statements yourself is a fully supported route — for many applicants it is the default — so you can simply upload PDF or CSV bank statements straight into the application. The decision uses the same information; it just takes a little longer because the files need to be processed. Our Our Technology and How We Lend pages explain the full picture.

See also: How does Open Banking speed up my application?, Do I upload bank statements or connect by Open Banking?, Which business bank accounts can I connect?.

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The Financial Conduct Authority (FCA) is the UK regulator for most consumer-facing financial firms. It maintains a free, public register at register.fca.org.uk where you can look up any regulated firm by name or by its Firm Reference Number (FRN).

Why it matters to you

The register tells you:

• whether a firm is currently authorised;
• what permissions the firm holds (what it is allowed to do);
• the firm's address and contact details;
• any disciplinary history.

If you ever want to verify that you are dealing with the genuine Credicorp Limited, the first stop is Companies House (company number 16093826); the FCA register lists firms authorised for consumer-facing activities. The FCA's ScamSmart warnings list also flags clone firms — people imitating real lenders. If anything you receive does not match what is on the register, please contact us using the details on this site before acting on it.

Our framing

Credicorp Limited provides commercial lending to UK incorporated bodies corporate, which is outside FCA consumer-credit regulation because a company is not an individual or a relevant recipient of credit under Articles 60B and 60L of the FSMA Regulated Activities Order 2001; Credicorp is not authorised or regulated by the FCA for consumer-credit lending and this product is not covered by the Financial Ombudsman Service or the FSCS. The firm's regulated status and FRN — where applicable — are stated on the relevant regulatory page on this site. If a particular product is offered under a different permission, that is stated in the product's own pre-contract information.

See also: What is the exempt business lending market?, Do all directors need to approve the application?, How to read your Key Information Sheet (KIS).

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Most delays are avoidable. Understanding what can hold up a decision lets you prepare in advance and keep the process moving.

Common causes of delay

• Mismatched company details: The name, registration number, or address you enter must match Companies House exactly. Discrepancies trigger a manual check.
• Manual bank statement uploads: PDF statements take longer to process than an Open Banking connection. Scanned or low-resolution files may need to be re-submitted.
• Accounts more than 12 months old: If your most recent filed accounts are out of date, we will ask for management accounts, which adds time if these are not already prepared.
• Missing signatory authority: The person completing the application must be authorised to bind the company. If they are not listed as a director at Companies House, we will need written confirmation.
• Queries from our credit team: For larger amounts or shorter trading histories, an underwriter may contact you for clarification. Responding promptly keeps things on track.

How to keep your application moving

Use Open Banking rather than uploading statements, double-check your Companies House details before you start, and have management accounts ready if your last filed accounts are more than a year old. Keep an eye on your inbox and your Credicorp dashboard during the review period — we will flag any outstanding items there.

Slice and Flex applications

A Credicorp Slice application is usually simpler because the invoice defines the amount; attach a clear copy of the bill from the outset. For a Flex facility, having at least six months of clean banking history available will generally avoid further queries.

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: How long does a business loan application take?, What documents do I need to apply?.

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The strongest applications combine clean, current financial records with a clear narrative about why the company needs finance and how it will service the repayments. None of these require a perfect credit history — they require honesty and preparation.

Documentation that speeds up a decision

• At least three months of business bank statements, with the account name matching your registered company.
• Filed accounts from Companies House, or management accounts if your year-end is recent.
• A consistent trading address and up-to-date officer information on Companies House.
• VAT returns where applicable — these confirm turnover independently of your bank statements.

The narrative elements that matter

Underwriters are not just reading numbers — they are forming a view of the company. A brief, clear statement of purpose (see our article on applying for a specific purpose) removes ambiguity. If there are blemishes in your history — a late payment, a period of low turnover, a previous CCJ that has since been satisfied — address them directly rather than hoping they go unnoticed. A short explanation is far better than a surprise discovery mid-process.

Signals that weigh in your favour

• Revenue that is growing or stable over the past six months, visible in bank statements.
• A clear relationship between the amount requested and your typical monthly turnover.
• No outstanding CCJs, or CCJs that are satisfied and explained.
• A loan amount proportionate to the stated purpose.
• Directors with a consistent and verifiable address history.

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: Can I apply if my company has a short trading history?, What does a soft search show on your company credit file?, Does stating a specific purpose help my application?

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Credicorp lends to both UK private limited companies (Ltd) and limited liability partnerships (LLPs). The application is broadly the same for either, but a few details differ because the two structures are set up differently at Companies House.

What's the same

• The loan is to the business, not to any individual. We do not take personal guarantees from directors or members.
• You'll need your Companies House registration number and details of who is applying.
• We look at trading activity, how money moves through the business, and the purpose of the funds.
• Both Credicorp Flex and Credicorp Slice are available, and the rate and term appear in your offer.

What differs

A limited company is owned by shareholders and run by directors, so we identify the directors and significant shareholders. An LLP is run by its members, so we identify the members, including designated members. The person who starts the application should have authority to take on borrowing for that structure.

Outside the consumer regime

Whichever structure you use, this is exempt business lending. It is not covered by the Financial Ombudsman Service or FSCS. Sole traders and individuals cannot borrow from us, because we only lend to incorporated businesses. If you are unsure which structure your business uses, your Companies House record or your accountant can confirm it.

See also: What information should I have ready before I start?, Who can hold a Credicorp account?, Why do you check Companies House details?.

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Our mobile experience is a progressive web app — a website that looks and feels like a native app once you add it to your phone's home screen. Open credicorp.co.uk/app on your phone to use it.

Adding it to your phone

On iPhone, open Safari, go to credicorp.co.uk/app, tap the Share icon, and choose Add to Home Screen. On Android, open Chrome, go to the same address, open the menu and choose Add to Home screen. After that, it behaves like any other app on your phone — its own icon, full-screen mode, and push notifications if you opt in.

What you can do in it

• Track your application and read messages from us.
• Sign documents, including the Key Information Sheet (KIS) and the Business Loan Agreement.
• Make a payment.
• See your statements and download them as PDFs.
• Reach our support team through the in-app chat.

The full portal

If you would rather use a desktop browser, the same portal is at credicorp.co.uk/portal. Everything in the mobile app is in the desktop portal too — they share the same account and the same data. Use whichever suits you.

See also: How to access your customer portal, Why does cashflow get tighter when my company is growing?, What happens after I accept my offer?.

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When you connect by Open Banking, you choose your bank from a list and log in through that bank's own secure screens. Most UK business current accounts are supported because Open Banking is a UK-wide standard that the major banks take part in.

What works best

• A business current account in your company's name
• The account your company actually trades through day to day
• An account you have online or app access to

Use the company's main account

Connect the account where your real trading happens, not a dormant or rarely used one. We are trying to understand how the business operates, so a quiet account gives us an incomplete picture and can slow your decision.

If your bank is not listed

If you cannot find your provider or the connection will not complete, you can upload recent business bank statements instead. Reviewing documents takes a little longer, but it lets us move forward.

Personal accounts

We need to see the company's finances, so a director's personal account is not a substitute. Because we lend to limited companies and LLPs only, the account should belong to the business. This is business finance outside the consumer-credit regime and is not covered by the Financial Ombudsman Service or FSCS.

See also: How long does a lending decision take?, Do I upload bank statements or connect by Open Banking? and What happens if I cannot connect my bank?.

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Credicorp is a business lender. We provide finance to UK limited companies and limited liability partnerships (LLPs) for genuine business purposes. The borrower is always the company or LLP itself, never an individual.

Who can apply

• Private limited companies (Ltd) registered at Companies House
• Limited liability partnerships (LLPs) registered at Companies House

Who cannot apply

• Sole traders and self-employed individuals
• Ordinary (unincorporated) partnerships
• Private individuals borrowing for personal reasons
• Charities, clubs and unincorporated associations

Because we lend to incorporated entities for business purposes, our lending sits outside the FCA consumer-credit regime. That means it is not covered by the Financial Ombudsman Service or the Financial Services Compensation Scheme (FSCS). We explain this clearly during the application so you know how your finance is regulated.

Why the company is the borrower

We assess and lend to the business as a legal entity. We do not take personal guarantees from directors, so the obligation to repay sits with the company. If you are unsure whether your structure qualifies, the quickest check is your Companies House registration: if your business has an Ltd or LLP company number, you are eligible to apply for Credicorp Flex or Credicorp Slice. You can check your eligibility in a couple of minutes before you start a full application.

See also: Does Credicorp lend to sole traders or individuals?, Who can apply for Credicorp Slice? and Can a sole trader or ordinary partnership apply?.

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Because Credicorp lends to the company — not to any individual director — the application must be completed and signed off by someone with the legal authority to bind the company to a financial agreement.

Who qualifies

• Registered directors: Anyone listed as an active director at Companies House has the authority to apply on behalf of the company.
• Company secretaries and authorised signatories: If your company has formally authorised someone other than a director to enter financial contracts, they may apply, but we will ask for evidence of that authority (for example, a board resolution).
• LLP designated members: For LLPs, designated members have equivalent authority.

Multiple directors

If your company's articles require two directors to authorise financial commitments above a certain threshold, both will need to countersign the loan agreement. This is uncommon for smaller facilities but worth checking your articles before you start. Our agreement process supports electronic signatures, so a co-signature can be obtained quickly.

What we verify

We cross-reference the applicant's name against the Companies House register as part of the standard check. If there is a discrepancy — for example, your name at Companies House differs from the name on your ID — resolving it before you apply will avoid delays.

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 slows down a business finance application?, What documents do I need to apply?.

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Companies House is the UK's official register of companies and LLPs. Because we lend only to incorporated businesses, it is our natural starting point for confirming who you are.

What we confirm

• That your company or LLP is registered and active
• Its registered name, number and registered office
• The current directors or designated members
• Persons with significant control, where relevant

Why it matters for you

Confirming these details protects your business. It helps make sure that the people applying have the authority to commit the company, and it reduces the risk of someone applying in your company's name without permission.

Keep your record current

If your Companies House record is out of date, our checks may not match what you enter and your application can stall. Before applying, it is worth confirming that your registered office, director list and company name on the register are accurate. If you have recently appointed or removed a director, allow the change to appear on the public register first.

We lend to the company itself and take no personal guarantees from directors. As business finance outside the consumer-credit regime, this lending is not covered by the Financial Ombudsman Service or FSCS.

See also: Keeping your company details current with us during the term, Does my company's filing status at Companies House matter? and Applying as a newly incorporated company.

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Part of applying is telling us what the finance is for. This is not a formality. The purpose helps us match you to the right product and lend in a way that genuinely supports the business.

Why purpose matters

• It helps us recommend Credicorp Flex or Credicorp Slice
• It lets us shape an offer that fits how the cost will fall
• It supports responsible lending by checking the finance suits the need

Business purposes only

Because we lend only to limited companies and LLPs for business purposes, the finance must be for the business, not for personal use by a director. Common purposes include managing cash flow, buying stock, covering equipment, or bridging a timing gap between work done and payment received.

Be straightforward

A clear, honest description of the purpose helps us help you. If your plans change after you apply, tell us, because the right product for one purpose may not be the best fit for another.

The rate, term and repayments in any offer are specific to your business. This is business finance outside the consumer-credit regime, with no director personal guarantee, and is not covered by the Financial Ombudsman Service or FSCS.

See also: How do you decide whether to lend to my business?, Can I save my application and finish it later?, Why might an application be declined?.

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Many business lenders ask directors to personally guarantee a company's borrowing, which can put a director's own assets at risk if the company cannot repay. Credicorp does not do this. We lend to the company, and the obligation to repay sits with the company.

What this means for you

• You are not asked to sign a personal guarantee as a director
• The agreement is between Credicorp and your limited company or LLP
• We assess the business, not your personal finances as security

How it shapes our assessment

Because we are relying on the company rather than a director's personal backing, our decision focuses closely on how the business trades and whether it can comfortably repay. That is why connecting your business account by Open Banking, and keeping your Companies House record current, matters so much.

Directors' responsibilities

Not taking a personal guarantee does not change a director's normal duties to act properly on behalf of the company. The person applying still needs the authority to commit the business.

This is business finance for UK limited companies and LLPs, outside the consumer-credit regime, and not covered by the Financial Ombudsman Service or FSCS.

See also: Do all directors need to approve the application?, How do you decide whether to lend to my business?, What documents might you ask me to provide?.

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If we are unable to offer finance, it is because, on what we have seen, the lending would not be the right outcome for your company. We make these decisions to protect your business as much as ours.

Common reasons

• The applicant is not a UK limited company or LLP
• Too little trading history for us to assess confidently
• Business credit information that suggests now is not the right time
• The company's records at Companies House do not match what was entered
• We could not verify the business finances through Open Banking or statements

What you can do

Check that your Companies House details are current, make sure you connect the account your company actually trades through, and confirm the amount and purpose genuinely fit the business. Sometimes a cleaner picture changes the outcome.

If you disagree

We will explain the headline reasons where we can. Because this is business lending outside the consumer-credit regime, there is no recourse to the Financial Ombudsman Service or FSCS, but you are welcome to contact us to discuss the decision or ask for the information we hold about your company.

See also: Can I save my application and finish it later?, How do you decide whether to lend to my business?, Can I withdraw my application before a decision?.

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When you apply, we assess your company's ability to take on and repay business finance. Part of that involves looking at credit information held about the business. It is reasonable to want to understand what this means for your company's profile before you apply.

What we check

• Information about the company held by business credit reference agencies
• Your trading activity, which you share through Open Banking or statements
• Companies House records to confirm the company and its officers

Company versus personal credit

We lend to the company, not to you as an individual, and we do not take personal guarantees from directors. Our core assessment is about the business as a legal entity rather than the personal credit files of its directors.

Footprints

Searches can leave a record on a company's business credit file, in the same way they do for any commercial finance enquiry. A single, well-considered application is a normal part of running a company. We will be clear at the point of application about the checks involved so there are no surprises.

Because this is business lending outside the consumer-credit regime, it is not covered by the Financial Ombudsman Service or FSCS. If you want a copy of the information we hold, you can ask us at any time.

See also: How do you decide whether to lend to my business?, What documents do I need to apply?, Our structure changed — does that affect our application?.

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Changing accountants does not disqualify your company, but it can prompt questions if it creates a gap in your financial records or leaves recently filed accounts unsigned. Being upfront about the change and providing bridging documentation will resolve most concerns quickly.

Why underwriters notice an accountant change

When we review your application, we look at the continuity and consistency of your financial records. A change of accountant mid-year may mean that management accounts are prepared in a different format, or that there is a period not yet covered by any professional sign-off. That gap is not a red flag in itself — we simply need to understand what happened and when.

Documents that help bridge the gap

• A brief note from your new accountant confirming they have taken on the engagement and the date from which they are responsible.
• Management accounts or a profit-and-loss summary covering the transition period.
• Bank statements that overlap with your last set of filed accounts, so the revenue picture is unbroken.
• Your most recent filed accounts from Companies House, even if prepared by your previous firm.

Timing your application

If you have recently changed accountants and your new firm is still onboarding your records, it may be worth waiting a few weeks until they can produce even a brief set of management accounts. That said, if the need is urgent — for example, a supplier invoice due under Credicorp Slice — apply now and let us know the context. We will work with what you have.

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: Can I apply if my company has a short trading history?, What strengthens a Credicorp application?, How long does a Credicorp approval decision last?

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The application is designed to be quick and largely self-service, so much of it you complete online at your own pace. That said, you are never on your own, and there are points where speaking to us helps.

What you do yourself

• Entering your company details
• Choosing between Credicorp Flex and Credicorp Slice
• Connecting your business account by Open Banking
• Reviewing and accepting your offer

When we may get in touch

We may contact you if we need to confirm something, such as a document, an authority to apply, or a detail that does not match your Companies House record. If anything in your application needs a closer look, we will reach out rather than simply decline.

When you can reach us

If you have a question at any stage, you can contact us for help, whether that is choosing a product, sorting out an Open Banking connection, or understanding your offer. We would rather you ask than guess.

We lend only to UK limited companies and LLPs, the loan is to the company with no director personal guarantee, and this is business finance outside the consumer-credit regime, not covered by the Financial Ombudsman Service or FSCS.

See also: How do I check the status of my application?, Can I withdraw my application before a decision?, Do all directors need to approve the application?.

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