Credicorp does not impose a minimum trading-age threshold, but a newly incorporated company — typically under twelve months old — presents a limited financial track record. That means we work harder on alternative evidence of viability. The stronger your current trading evidence, the more competitive an offer we can make.
What replaces filed accounts for new companies
If your company has not yet filed its first statutory accounts, we look at the following instead:
- Business bank statements showing money flowing in from customers or clients.
- Signed contracts, confirmed purchase orders, or letters of intent from customers.
- A short cashflow forecast covering the facility term, showing how repayments will be met.
- VAT registration and any returns filed, if applicable.
- The directors' relevant sector experience — useful context even though we do not take personal guarantees.
Which product is most accessible for a new company
Credicorp Slice is often the most practical first step. It spreads a specific business bill — a supplier invoice, a contractor payment, a one-off service fee — across 3–4 weekly instalments at a flat 6% fee. There is no compounding interest and no long-term commitment, making it well-suited to a company still building its track record. A Business Loan or Credicorp Flex revolving facility becomes easier to access once several months of consistent revenue are visible.
Improving your application as a new company
Open a dedicated business bank account early, invoice promptly, and keep management accounts current. The cleaner and more consistent the financial paper trail, the faster and more favourably we can assess you — even if formal company accounts do not yet exist.
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 a dormant company restarting trading get a business loan?, Does the company need UK-resident directors to apply?.