How decisions work

Part of our lending decision is automated, and the outcome is authoritative — but it is never the final word if you disagree. Under Article 22 of the UK GDPR you have the right not to be subject to a solely automated decision that significantly affects you, and to ask for a person to be involved. This article explains how to use that right.

What you can ask for

• A human re-review. A member of the lending team re-examines the application, taking into account anything you want to add.
• An explanation. We will set out, in plain English, the main factors that drove the outcome. We cannot disclose model internals that would help someone game our fraud controls, but you are entitled to understand the reasons.
• A contest with new evidence. If something has changed or was missed, you can submit further evidence. Contests go to a senior underwriter who did not take the original decision.

How to ask

Open the support tab in your customer portal and tick the option that says your message concerns an automated decision. That routes it straight to the right team rather than the general queue. If you would rather not use the portal, you can email Support from the address registered to the account, or use the General Support Enquiry form and tell us it relates to an automated lending decision.

How long it takes

We respond to a request about an automated decision within two business days. If your contest needs a senior underwriter to look at fresh evidence, we will tell you that and keep you updated rather than leave you waiting in silence.

What it does not do

Asking for a review does not count against you and does not affect any future application. It also has no effect on the director's personal credit file — this is business lending to the company, and asking us to look again is simply part of being treated fairly. A review may confirm the original outcome, adjust it, or change it; what matters is that a person genuinely looks.

If the outcome was a decline

A decline is meant to be honest and specific, not a closed door. As well as asking for a review, it is worth reading what happens if your application is declined, which covers the common reasons and how to come back with a stronger application. And if a smaller amount might have worked, see why your company might be offered less than it asked for.

See also: Can I find out why I was declined?, Can I reapply after a decline?, Does a CCJ against my company affect eligibility?.

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Once an offer has been issued, the terms — including the loan amount, repayment term, and any conditions — are set on the basis of the assessment carried out at that point. Whether a change is possible depends on the nature and scale of what you want to alter.

Minor reductions in loan amount

If you want to borrow less than the offered amount, this is generally straightforward to accommodate without a full re-underwrite, provided the purpose and repayment term remain the same. Contact us before drawdown and we can issue an amended offer. As an illustration, if you were offered £150,000 but now need only £110,000, that kind of reduction is typically handled administratively — this is illustrative and not a quote.

Increases to the loan amount

A request to borrow more than the amount in the existing offer requires a fresh assessment. Affordability and bureau checks are run at a specific point in time, and an increase in borrowing changes the risk profile materially enough that we cannot simply extend the existing offer. The new assessment will use data current at the point you request it, which may result in the same, a better, or a less favourable outcome than the original.

Changes to repayment term

Shortening the term increases the monthly repayment, which may push the facility outside the affordability parameters used in the original assessment. Extending the term reduces the monthly cost but increases total interest payable and may change the pricing. Both scenarios typically require at least a partial re-review. If you are considering a term change, contact us before the offer expires so we can advise on the quickest path to revised terms.

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

See also: How long is a loan offer valid?, How long does a lending decision take?.

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Yes. If we could not make an offer to your limited company or LLP, you can ask us to explain the main factors behind the decision. We want you to understand the outcome rather than be left guessing.

What we can share

We can tell you the principal reasons the assessment did not support an offer, in plain terms. Examples include limited headroom against existing commitments, irregular income, or a requested amount that was large relative to trading.

What we cannot share

We cannot hand over the exact internal scoring or model weightings, as that would not be meaningful and would risk the integrity of the assessment. But the explanation will be specific enough to be useful.

How to ask

• Contact our support team and quote your application reference
• Ask for the main reasons behind the decision
• If you believe relevant information was missing, ask for a human review

Credicorp is an exempt business lender to UK companies and LLPs. The Financial Ombudsman Service and FSCS do not apply, but we will always explain a decision when you ask.

See also: Is my loan decision made by a computer?, Can I ask a person to review an automated decision?, What to do if your business-loan application is declined.

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Yes. A decline reflects one application at one moment, so your limited company or LLP can apply again in future. The key is to reapply when something meaningful has changed.

When reapplying makes sense

• Your trading has become steadier or stronger
• You have reduced or cleared existing commitments
• A temporary issue, such as a returned payment, is now well behind you
• You can now connect a business bank account you did not before

When to wait

Reapplying immediately with the same information usually produces the same result. If nothing has changed, give the business time so the picture genuinely improves before trying again.

Make the next application count

• Request an amount that comfortably fits your trading
• Ensure your company details are accurate and current
• Provide a complete picture so the assessment is not working with gaps

Credicorp is an exempt business lender to UK companies and LLPs only. The Financial Ombudsman Service and FSCS do not apply.

See also: Understanding a decline, Does a previous decline stay on record when I re-apply?, How to prepare your company before you apply.

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A decline is not a permanent bar. You are welcome to reapply, and many companies that were declined at one point subsequently receive an offer once their circumstances change. The key is understanding what drove the original decline and addressing it before reapplying.

How long should I wait before reapplying?

There is no fixed mandatory waiting period, but reapplying immediately after a decline rarely changes the outcome because the underlying data will not have shifted. As a general guide:

• If the decline was due to trading history, wait until another set of management or filed accounts is available that demonstrates a longer track record.
• If the decline was due to a CCJ or default, wait until that adverse entry is satisfied and the correction is reflected in bureau records — this can take four to six weeks after settlement.
• If the decline was due to affordability, a meaningful improvement in revenue or reduction in existing debt obligations will strengthen a fresh application.

What changes between applications

When you reapply, we run a fresh assessment using data current at the point of the new application. A previous decline does not carry a weighting in our model — each application is assessed on its own merits at the time it is reviewed. However, if multiple applications are submitted in quick succession, bureau data may record the enquiries, which can themselves be a signal worth being aware of.

Should I contact us before reapplying?

If you are unsure whether the circumstances that led to the decline have sufficiently changed, you are welcome to contact our team before submitting. We cannot pre-approve an application in advance, but we can often tell you whether the specific reason for your decline is something that a reapplication could now address.

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

See also: Why was my application declined?, What data do you use to make a lending decision?.

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A county court judgment (CCJ) against your limited company or LLP does not, on its own, rule you out. It is one signal the assessment weighs alongside everything else it can see about how the business trades. We do not operate an automatic decline for a company with a CCJ on record.

How a CCJ is weighed

The decision engine reads a CCJ in context rather than treating it as a single pass-or-fail flag. The same judgment can carry very different weight depending on the wider picture of the business.

• How recent the judgment is, and whether it has been satisfied or settled
• The size of the judgment relative to how your company trades
• Whether it looks like a one-off event or part of a pattern of missed commitments
• How the business has handled its obligations since the judgment was registered

A small, older, satisfied CCJ against a company that has traded steadily since carries far less weight than several recent unsatisfied judgments against a business already under strain. No single entry decides the outcome by itself — the engine looks at the signals together. You can read more in how our AI decision engine works.

What context helps

If your company has a CCJ, the most useful thing you can do is let the assessment see the full, current picture so the judgment is read fairly.

• Connect your main business bank account so recent, healthy trading is visible
• Make sure the judgment is marked as satisfied on the register if you have paid it
• Keep your other commitments up to date and run income through the business account
• Choose a borrowing amount and term that sit comfortably against current trading

These are the same honest steps that support any application — there is more in what can strengthen your application. A CCJ sits alongside your other obligations, so it helps to understand how existing debt affects the decision too.

If the CCJ tips the balance

Where a judgment leaves the overall picture finely balanced, the application may be referred for a closer human look rather than declined outright — see what a referred application means. At that stage you can add context the data does not show, such as a dispute that was resolved or a one-off issue that has since passed.

If we still cannot make an offer, we will explain the main reasons when you ask, and a CCJ will not be the whole story on its own.

Important to know

Credicorp lends only to UK limited companies and LLPs for business purposes, as a lender rather than a broker. We assess judgments registered against the company, not against you personally, and we never take personal guarantees from directors. As an exempt business lender we sit outside the FCA consumer-credit regime, so the Financial Ombudsman Service and FSCS do not apply.

See also: Can I ask a person to review an automated decision?, Can I find out why I was declined?, Can I reapply after a decline?.

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It is a fair question. If we do not take a personal guarantee, why would a director's personal credit matter at all? The short answer is that the lending decision is about the company, not the director. We lend to your limited company or LLP, the obligation to repay sits with the company, and we do not rely on a director's personal finances as security. For the background to that approach, see why we do not take a personal guarantee.

What the decision is actually based on

The assessment looks at how the business trades and whether it can comfortably repay. The signals that carry weight are company-level: your trading activity through the business account, your filed Companies House record, and business credit information about the commitments the company already holds. These are the things that shape the outcome and the amount we can offer. You can read more in what information the decision uses and why a credit search is part of the decision.

So is a director's personal credit file pulled?

The credit search that feeds the decision is a business search, recorded against the company rather than against any director personally. We are not assessing a director's personal credit score as the basis for lending, and we do not place a guarantee on a director's own assets. That is the whole point of lending to the company.

Where a director still comes into it

A couple of director-level checks are separate from credit scoring and exist for good reason:

• Identity and authority. We confirm who is applying and that the person has the authority to commit the business. This is verification, not a judgement on personal borrowing.
• Public director information. Matters such as a current disqualification, or director details filed at Companies House, can be relevant to whether the company itself is sound to lend to. This looks at the business, not a personal credit rating.

None of this turns into a personal guarantee, and none of it puts a director's home or personal savings on the line for the company's borrowing.

Keeping it fair and consistent

Because the decision is driven by the business rather than by anything about a director as an individual, similar companies are treated in a similar way. If you believe an outcome relied on incorrect information, you can ask us to explain the main reasons and request a human review. See is the decision fair and unbiased and how to ask for a human review.

Credicorp is an exempt business lender to UK limited companies and LLPs. This is business finance outside the consumer-credit regime, so the Financial Ombudsman Service and FSCS do not apply, and internal review is the route for challenging an outcome.

See also: Can I find out why I was declined?, Can I reapply after a decline?, Does a CCJ against my company affect eligibility?.

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Not every adverse event carries the same weight. Some are read in context alongside everything else about how your company trades; one, a live winding-up petition, is close to a hard stop. This article is honest about that difference, because there is little point letting you apply for finance the assessment is almost certain to refuse.

A live winding-up petition is treated very differently from a CCJ

A winding-up petition is a formal court application by a creditor to have your limited company compulsorily liquidated — closed down and its assets distributed. It is one of the most serious things that can sit against a company, and it is a different order of signal from a county court judgment. A CCJ records a debt; a winding-up petition is an active attempt to end the company itself.

Where a CCJ is one input among many that the engine weighs in context — see whether a CCJ against your company affects eligibility — a current, undischarged winding-up petition will, in almost all cases, mean we cannot make an offer. Lending fresh money to a company that a creditor is actively trying to wind up would not be responsible, and in practice the company's bank account is often frozen once a petition is advertised, so the funds could not be used as intended anyway.

What the assessment is actually checking

The decision looks for whether a petition is live and unresolved rather than treating any historical mention as permanent. The position can change, and the engine reads the current state.

• Whether a petition has been presented and is still outstanding against the company
• Whether it has been dismissed, withdrawn, or the underlying debt settled
• How the company's bank account and trading look right now from Open Banking data
• Whether the wider picture suggests a one-off dispute or genuine, ongoing insolvency

If a petition has been properly dealt with and the company is trading again, that is a materially different situation from a petition that is still in force. We assess where things stand today, not where they stood at the worst moment.

How CCJ history fits in

CCJ history, by contrast, is rarely an automatic refusal on its own. A small, older, satisfied judgment against a company that has traded steadily since carries far less weight than several recent unsatisfied ones, and judgments sit alongside your other obligations rather than overriding them. The detail is in the CCJ eligibility article and in how existing debt affects the decision. A pattern of recent judgments can, of course, tip a finely balanced application towards a referral or a decline — but a single historical CCJ usually will not.

If a petition has been resolved

If a winding-up petition against your company has been dismissed or withdrawn and the underlying issue is settled, you are not barred from applying. Let the assessment see the full, current picture: connect your main business bank account so recent healthy trading is visible, make sure any related judgments are marked satisfied, and choose an amount and term that sit comfortably against how the company trades now. Where the overall position is borderline rather than clear-cut, the application may be referred for a closer human look instead of declined outright — see what a referred application means — and that is your chance to add context the data alone does not show.

If your company is genuinely in difficulty

If a petition is live because your company is in real financial trouble, taking on more borrowing is rarely the answer, and our job is not to push finance that makes things worse. The right step is independent advice and, if you already borrow from us, an early conversation about options. Whether a company in a CVA can apply covers formal repayment arrangements, and what happens if your company is wound up or enters administration explains the process and where to get free, confidential help.

Important to know

Credicorp lends only to UK limited companies and LLPs for business purposes, as a lender rather than a broker, and we never take personal guarantees from directors — a petition or judgment is assessed against the company, not against you personally. As an exempt business lender we sit outside the FCA consumer-credit regime, so the Financial Ombudsman Service and FSCS do not apply.

See also: Can I ask a person to review an automated decision?, Can I find out why I was declined?, Can I reapply after a decline?.

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It is sensible to ask how an application affects your company's credit profile before you apply. Here is a straightforward answer for limited companies and LLPs.

What is recorded

When we assess an application we may carry out a business credit search, and that can be recorded against the company. We will tell you the type of search before we run it so there are no surprises.

What is not affected

• Nothing is recorded against any director personally; we take no personal guarantees
• Asking us a question or getting general guidance does not trigger a search

Once you borrow

If you take up an offer, how the company manages the borrowing can become part of its credit picture over time. Meeting repayments on time supports a healthy business credit profile, while missed payments can do the opposite.

Apply with intent

Because a search may be recorded, it is worth applying when you genuinely intend to borrow and have chosen an amount that fits your trading.

Credicorp is an exempt business lender to UK companies and LLPs only. The Financial Ombudsman Service and FSCS do not apply.

See also: Will applying affect my company's credit profile?, Will applying for a Credicorp loan affect my credit file?, Does a director's personal credit affect the decision if there is no personal guarantee?.

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When you apply for a business loan with us, we conduct a search of your company's commercial credit file with one or more UK credit reference agencies. That search is recorded on the company's bureau file and is visible to other lenders who subsequently search the same file.

What type of search do we carry out?

We carry out a full credit search as part of underwriting. Unlike a soft or quotation search, a full search is visible to other commercial lenders. Multiple full searches in a short period can sometimes be interpreted by other lenders as a sign that a company is actively seeking credit from several sources simultaneously, which may affect their assessment. This is a common feature of commercial credit — not unique to our process.

Do we search director personal credit files?

No. Our lending decision is based on the limited company or LLP as a legal entity. We do not run a personal credit search on directors, and we do not require a director personal guarantee as a condition of lending. The search is a company-level commercial enquiry only.

How long does a search stay on the company file?

Commercial credit searches typically remain visible on a company's bureau record for twelve months from the date of the search, after which they drop off automatically. They do not accumulate as permanent adverse entries. If the application results in a loan being taken, the facility itself will be reported to the bureau as an active credit commitment throughout its term and closed upon full repayment.

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

See also: What data do you use to make a lending decision?, Can I reapply after a decline?.

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Short answer: the length and continuity of your business banking history give the assessment more to read from, but they are not a pass-or-fail test on their own. We are not counting how many years the account has existed — we are looking at whether the recent record is genuine, complete and steady enough to show how the company trades today.

What "time at bank" actually means here

This is a different question from how long your company has traded or when it was incorporated — those are covered separately in how much trading history we look at. Time at bank means the depth and continuity of the account itself: how many months of real activity are visible, whether the picture runs unbroken, and whether the account you connect is genuinely the one the business runs on day to day.

When you share your account by read-only Open Banking, the connection typically returns several months of history at once. A longer, unbroken run lets the assessment see your full rhythm — busy months and quiet ones, when invoices land, how outgoings fall — rather than a narrow snapshot. That depth makes a decision fairer, because context stops a slow month being misread.

Why continuity helps the read

A continuous account tells an honest, joined-up story. The assessment reads roughly the last six months for the rhythm of income, regular outgoings, and any signs of strain such as repeated returned payments — the same signals set out in how your bank data affects the decision. The more complete that run is, the more confidently those patterns can be read in proportion rather than guessed at.

Gaps are where confidence drops. If trading income runs through one account for part of the period and a different account for the rest, the visible history looks thinner than the business really is. That is not a black mark — it just leaves less to read, which can make an offer more cautious.

What a thin banking footprint means in practice

A thin footprint is any situation with little continuous activity to assess. None of the cases below is an automatic decline — they simply mean the assessment has a smaller record to work from, so it leans more on what it can see and may reflect that in the amount or term offered.

• A newly opened account. The business may trade well, but only a short run is visible yet. A few more months of activity strengthens the read.
• A recent switch. If you have moved bank recently, the new account may only show a short history. Connecting the account with the longest continuous record gives more depth.
• Income routed elsewhere. If takings have flowed through a personal or secondary account, the main business account understates the trading. Running income through it going forward closes that gap.

How much this weighs against everything else

Banking depth is one signal among several, never the whole decision. It sits alongside how the company trades and its business credit file — the full list is in what information goes into a lending decision. A shorter account history can be balanced by strong, regular income and a clean credit record; equally, a long-standing account will not carry an application whose figures do not support the repayments. The single question never changes: can this company comfortably repay this amount.

If your banking history is thin today

Let the assessment see the fullest, most current picture available: connect your main business bank account rather than a secondary one, and choose Open Banking so the history comes through cleanly — see how we verify bank statements and Open Banking. If only a short run is visible right now, building up a few more months before applying often does the most.

Important to know

Credicorp lends only to UK limited companies and LLPs for business purposes, as a lender rather than a broker, and we read your account on a read-only basis — we never move money through the connection. We assess the company, not the director personally, and take no personal guarantees. As an exempt business lender we sit outside the FCA consumer-credit regime, so the Financial Ombudsman Service and FSCS do not apply to this borrowing.

See also: Can I ask a person to review an automated decision?, Can I find out why I was declined?, Can I reapply after a decline?.

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Short answer: your industry is read for context, not used as a list of "yes" and "no" sectors. The assessment is built around one question — can this company comfortably repay this amount on this schedule — and the sector you trade in helps it read the rest of your picture sensibly. It is one signal among many, never an automatic decline on its own.

What your SIC code actually is

Your SIC code (Standard Industrial Classification) is the code on your Companies House record that describes what your business does — for example construction, retail, hospitality, professional services or manufacturing. You chose it when you incorporated, and you can hold more than one. We can see it because it is part of the public company record, the same place we read your filings and registered details.

It is worth making sure the code on file genuinely describes what you do day to day. A SIC code that does not match your actual trading — left over from a pivot, or picked quickly at incorporation — gives a slightly misleading first impression and is easy to put right at Companies House.

How the sector is used in the decision

Industry mostly helps the assessment interpret your numbers in context rather than score you up or down by itself. A few examples of what it informs:

• Cash-flow rhythm. Some sectors are paid up front, others wait 30 to 90 days on invoices. Knowing which you are in helps us read your bank account fairly.
• Seasonality. A quiet month for a seasonal trade is normal, not a warning sign — context stops a healthy business being misread.
• Typical patterns. What "steady trading" looks like differs between, say, a wholesaler and a consultancy. The sector frames what normal looks like for you.

None of this overrides the core picture. Strong, regular income through a well-run business bank account speaks far louder than the sector label attached to it. You can see the full list of what we read in what information goes into a lending decision.

Are some industries excluded?

We do not run a simple "computer says no" by SIC code. A small number of activities sit outside what we can lend to for legal or regulatory reasons, or because they fall outside business lending altogether — but the everyday answer for the vast majority of trading companies is that your sector shapes the read, it does not gate it. Two businesses in the same industry can get very different outcomes because their trading, bank behaviour and credit file differ. Equally, the same sector will not save an application that cannot show it can afford the repayments.

If you are worried your sector counts against you

The most useful thing you can do is let the assessment see a complete, current picture so your industry is read in proportion. Connect your main business bank account, keep your Companies House record accurate, and choose an amount and term that sit comfortably against how you actually trade. These are the same honest steps in what can strengthen your application, and they matter more than the code itself. The wider logic is in how our AI decision engine works, and our commitment to consistent outcomes is covered in is the decision fair and unbiased.

Important to know

Credicorp lends only to UK limited companies and LLPs for business purposes, as a lender rather than a broker, and we assess the company rather than the director personally — we take no personal guarantees. As an exempt business lender we sit outside the FCA consumer-credit regime, so the Financial Ombudsman Service and FSCS do not apply.

See also: Can I ask a person to review an automated decision?, Can I find out why I was declined?, Can I reapply after a decline?.

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If you believe our lending decision was reached using incorrect or outdated information — for example a CCJ that was satisfied and not updated on the bureau record, or accounts that were matched to the wrong company — you can ask us to conduct a review. An appeal is not simply a request to reconsider; it works best when there is a specific, evidenced reason to believe the underlying data was wrong.

How to submit an appeal

Contact us in writing by email, referencing your application number and the specific data point you believe to be inaccurate. Include any supporting evidence you have — for example a satisfaction certificate for a CCJ, a letter from a lender confirming a debt was closed, or a screenshot of your bureau report showing a corrected entry. Appeals submitted without supporting documentation are difficult to progress.

What the review covers

Our review will look at whether the data used was accurate at the time of the decision. We are not able to re-run the full underwriting on the basis of new financial information that did not exist at the time — for example, a strong month of trading that occurred after the decision was issued. That scenario is better addressed by a new application once the improved position is reflected in accounts.

Timescale for a review

We aim to provide a response to an appeal within five business days of receiving your written submission and any supporting documentation. If the review finds in your favour and the corrected data materially changes the assessment, we will advise on next steps, which may include issuing a revised decision.

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

See also: Why was my application declined?, Can I reapply after a decline?.

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The commitments your limited company or LLP already carries are central to any decision. Affordability is about whether new repayments fit alongside what the business is already paying.

Why existing commitments matter

Every existing repayment uses part of the company's monthly cash flow. The more that is already committed, the less headroom there is for new borrowing, which directly affects what we can responsibly offer.

What we look at

• Other finance the company is repaying
• Regular obligations such as leases and supplier terms
• How reliably those commitments are being met

What this means for you

A business with light commitments and steady income usually has more room for an offer. A business already stretched may be offered a smaller amount, a different product, or declined. Reducing existing commitments before reapplying can change the picture.

The repayment in any offer reflects the headroom the assessment found. There is no fixed figure that applies to every company.

Credicorp is an exempt business lender to UK companies and LLPs only. The Financial Ombudsman Service and FSCS do not apply.

See also: Can a company with arrears elsewhere still apply?, How our AI decision engine works and Why a credit search is part of the decision.

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Credicorp offers two products to limited companies and LLPs: Credicorp Flex and Credicorp Slice. They are built for different needs, so the assessment looks at your application with each product's shape in mind.

Why the product matters

Each product repays in a different way, so affordability is judged against that pattern. A business whose cash flow suits one product may be a better fit for the other, and the assessment can reflect that in what it offers.

What this means in practice

• You may be offered one product even if you applied for the other, where it fits better
• The amount that is sustainable can differ between the two
• The terms shown reflect the product as well as your trading

Choosing well

If you are unsure which product suits your needs, our support team can talk you through how each one works before you apply. The right fit makes for a smoother assessment and a more comfortable repayment.

Credicorp is an exempt business lender. The Financial Ombudsman Service and FSCS do not apply.

See also: Why our decision can differ from your bank's, Why your offer amount can change, Why was my company offered less than it asked for?.

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Because the first assessment is automated, many applications from limited companies and LLPs receive an outcome shortly after submission. Some take a little longer when a closer look is needed.

What helps a fast result

• Connecting your business bank account so trading is visible instantly
• Company details that match Companies House records
• A complete application with nothing left blank

What can add time

• Applications referred for a human to review
• Requests for additional documents or clarification
• Information that needs to be verified against other sources

If your application is referred

A referral is not a decline. It simply means a person will look more closely before a final outcome. We will keep you informed and contact you if we need anything further.

Credicorp is an exempt business lender. The Financial Ombudsman Service and FSCS do not apply to this borrowing.

See also: Is the decision fair and unbiased?, Can I ask a person to review an automated decision?, Does how long my company has banked affect the decision?.

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Once we issue a formal loan offer to your company, it is valid for 30 days from the date shown on the offer document. If you do not draw down within that window, the offer lapses and a fresh assessment will be required before we can proceed.

Why offers have an expiry date

Our decision is based on the company's financial position and bureau data at a specific point in time. After 30 days, the picture may have changed — trading conditions shift, new credit commitments may have been taken on, or bureau data may have updated. Refreshing the assessment protects both us and the company from proceeding on the basis of stale information.

What happens if an offer lapses

If your offer expires before drawdown, contact us as soon as possible. In many cases, where nothing material has changed in the company's position, a refresh can be completed quickly — often faster than the original assessment because we already hold much of the background information. There is no automatic penalty for allowing an offer to lapse; it simply means we need to re-verify the current position before issuing a new offer.

Can an offer be extended?

In some circumstances we may be able to extend an offer by a short period if you contact us before the expiry date and there is a specific, documented reason for the delay in drawdown — for example, a property completion date or a supplier lead time. Extensions are considered on a case-by-case basis and are not guaranteed. The 30-day period and any extension terms will be stated clearly on the offer document itself.

Timescales and validity periods described here are illustrative of standard practice; the terms stated in your specific offer document take precedence.

We lend only to UK limited companies and LLPs, and the loan is to the company with no director personal guarantee required. 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 lending decision take?, Can I change the loan amount after receiving an offer?.

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One of the most useful things to understand about borrowing from us is that your history matters. We are not only looking at a snapshot; we are building a picture of how your company manages credit. Repaying on time is the strongest signal in that picture.

Why a track record helps

When a company borrows a sensible amount and repays on schedule, it demonstrates — with evidence rather than promises — that it can comfortably carry that level of credit. That demonstrated affordability is exactly what our assessment is built to recognise, so over time a larger amount can become available to a business with a strong record.

What it does not mean

How to build a strong record

• Borrow what you need rather than the maximum, and keep to the schedule.
• If a payment is going to be tight, tell us early — agreeing an arrangement in advance is far better than a missed payment.
• Keep your business bank connection or statements up to date so we can see the current picture.

This is also why a returning customer can get a different outcome from last time. Nothing here is a guarantee, and every offer is shown in full before you commit. Because this is lending to a company for business purposes, 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.

See also: Can I ask a person to review an automated decision?, Can I find out why I was declined?, Can I reapply after a decline?.

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When your limited company or LLP applies to Credicorp, the application is assessed by an automated decision engine. It reads the information you provide and the data sources you connect, then weighs them against our lending criteria to reach a consistent outcome.

What the engine is doing

The model is looking for a realistic picture of how your business trades and whether the borrowing you have requested fits comfortably alongside your existing commitments. It considers signals together rather than relying on any single figure, so no one data point automatically decides the result.

• The pattern and stability of money flowing through the business
• Existing commitments the company already carries
• How the requested product and term sit against that picture
• Consistency between the figures you give and the data we can see

Why we use a model

Automated assessment lets us treat similar businesses in a similar way and return a decision quickly. The rate and terms in any offer reflect what the assessment indicates is affordable for your company, never a fixed price applied to everyone.

Important to know

Credicorp lends only to UK limited companies and LLPs for business purposes. As an exempt lender we sit outside the FCA consumer-credit regime, so the Financial Ombudsman Service and FSCS do not apply. We never take personal guarantees from directors. For the principles behind these assessments, see how we lend.

See also: Credicorp Flex vs Credicorp Slice: how to choose, How do payments differ between Credicorp Flex and Slice? and How existing debt affects the decision.

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Plenty of healthy companies do not earn evenly across the year. A seaside cafe, a landscaper, a retailer geared to Christmas, an events firm — each takes most of its money in a few intense months and far less in the rest. The question we get asked is fair: if you happen to apply in a quiet month, does the assessment read that as weakness? The short answer is no. The engine looks at the shape of your trading year, not a single snapshot, so a predictable trough is treated as exactly that.

What the engine actually reads

Affordability is about whether this company can comfortably repay this amount on this schedule. When trading data is available — most clearly through a connected business bank account — the model reads several months of activity rather than the most recent week or two. That history lets it tell two very different things apart:

• A seasonal swing — income that dips and recovers on a repeating, explainable pattern, year after year.
• A genuine downward trend — income that is falling and not coming back, or strain such as repeated returned payments.

A quiet July for a business that always has a quiet July is information, not a red flag. What matters is that the peaks reliably arrive and are large enough to carry the repayments across the whole cycle. For more on the signals involved, see how your bank data affects the decision and what an affordability assessment looks at.

How a swing can still shape the offer

Recognising seasonality does not mean ignoring it. The shape of your year can sensibly influence the structure of an offer rather than just the yes or no:

• The amount. If repayments would be tight during your low season, the comfortable answer may be a smaller sum — see why you might be offered less than you asked for.
• The timing. Borrowing tends to sit most comfortably when it is timed against your cycle — drawing ahead of a busy season you can repay into, rather than at the bottom of a trough with the recovery still months away.
• Your record over time. Repaying earlier borrowing through a full cycle is strong evidence that the pattern holds, which is one reason a returning, on-time customer can see a different outcome from one application to the next — see why a returning customer can get a different outcome.

Helping the assessment see the pattern

You do not have to do anything special, but a few things make a seasonal pattern easier to read accurately. Connecting your business bank account through read-only Open Banking gives the fullest view, because the dips and peaks are visible in the actual numbers rather than inferred. A longer trading history helps too: a single season tells us less than two or three. And if a quiet stretch this year has an explanation that the figures alone would miss, you can always ask us to take it into account.

If you applied during a low season and want to understand the main factors behind your offer, you can ask for a human to look again — see asking a person to review your decision. Every offer is shown in full before you commit, and you are never under any obligation to take it. Because this is lending to a company for business purposes, 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.

See also: Can I find out why I was declined?, Can I reapply after a decline?, Does a CCJ against my company affect eligibility?.

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If you believe a decision on your limited company or LLP was based on incomplete or incorrect information, you can ask us to review it. An appeal is simply a fresh look by a person, taking account of anything we may have missed.

When an appeal makes sense

• Information used in the assessment was wrong or out of date
• Your business circumstances were not fully reflected
• You can provide context or documents that change the picture

How to start

• Contact support and quote your application reference
• Explain clearly what you believe was missed or incorrect
• Send any supporting documents, such as recent accounts or bank statements

What happens next

A member of our team will look at your application again alongside what you have provided. We will tell you the outcome and the reasons for it. An appeal does not guarantee a different result, but it ensures a human has considered your case properly.

Credicorp is an exempt business lender. The Financial Ombudsman Service and FSCS do not apply, so an internal review is the route for a second look.

See also: What information you can provide for a review, Do you make automated decisions about my application? and How do I correct inaccurate information you hold?.

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If you connect your business bank account during an application, the decision engine can read recent transaction history directly. This usually gives a faster and more accurate result than figures keyed in by hand.

What the assessment reads

• The rhythm and reliability of income arriving in the account
• Regular outgoings such as suppliers, wages and existing finance
• Patterns that show whether trading is steady or seasonal
• Any signs of strain, such as repeated returned payments

Why connected data helps

Live data removes guesswork. It lets us see how the business actually behaves rather than relying solely on self-reported numbers, which often means a quicker decision and an offer that fits your real cash position.

Your control and privacy

You choose whether to connect an account, the access is read-only, and we use the data only to assess and manage your borrowing. We never move money through this connection.

Credicorp lends only to UK limited companies and LLPs for business purposes. As an exempt lender, the Financial Ombudsman Service and FSCS do not apply to this borrowing.

See also: Does how long my company has banked affect the decision?, Do I upload bank statements or connect by Open Banking? and What we look at when we make a lending decision.

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When your company applies, part of the decision is automated. We think it is fairer to be open about that than to imply a person reads every line by hand. Here is exactly how it works, what the model does and does not see, and the rights you have over an automated outcome.

What the model does

An affordability and risk model reads the information you supply, the company's business credit reference data, and — where available — the signals from the business bank account you connect or upload. It produces a score and a recommended outcome: approve, decline, refer, or request more information. Because the model can do this in seconds, you usually get a fast, consistent answer rather than waiting in a queue. For the factors that feed it, see what information goes into a lending decision.

The decision is authoritative

The automated outcome is the decision, not a draft suggestion that someone later rubber-stamps. We hold ourselves to consistency: the same company facts produce the same answer, every time, without it depending on who happened to pick up your file or what mood they were in. The one step we always keep in human hands is releasing the money itself — funds are only ever paid out after a person has confirmed the payment.

It assesses the company, not you personally

The model is built around one question: can this company comfortably repay this amount on this schedule? Because the loan is to a UK limited company or LLP and we take no personal guarantee, it does not score the director's personal income, personal credit rating, household budget or benefits. An identity and anti-money-laundering check is run on the director, but that confirms who you are; it is not a personal credit search.

Your rights under UK GDPR Article 22

Under Article 22 of the UK GDPR you have the right not to be subject to a decision based solely on automated processing where it significantly affects you, and to ask for human involvement. In practice that means you can:

• ask a member of our team to review any automated outcome;
• ask us to explain, in plain English, the main factors that drove it;
• contest the decision and add new evidence for a senior underwriter to weigh.

To use any of these, open the support tab in your portal and tick that your message concerns an automated decision — see how to ask a person to review an automated decision. We respond within two business days.

Why we build it this way

Automating the assessment is what lets us decide quickly and treat two identical companies identically. Keeping a clear right to human review, and keeping the money-out step manual, is what stops "the computer said no" from ever being the end of the conversation. For our wider approach, see how we lend. Whatever the outcome, you will see your figures in full — and if we can lend, your Key Information Sheet (KIS) shows the amount, term, total cost of credit and repayment schedule before you sign. Because this is lending to a company for business purposes, 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.

See also: Can I find out why I was declined?, Can I reapply after a decline?, Does a CCJ against my company affect eligibility?.

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We take fairness in automated decisioning seriously. Our aim is for similar limited companies and LLPs to be treated in a similar way, with outcomes driven by the business's ability to repay rather than anything irrelevant.

How we support fairness

• The model assesses business and affordability signals, not protected characteristics
• Decisions follow consistent criteria so like cases get like treatment
• We review how the assessment performs and adjust where needed
• A human can review any outcome you believe is wrong

If you think a decision is wrong

Ask us to explain the main reasons, and if you believe the assessment relied on incorrect or incomplete information, request a human review. A person can look again at your case in full.

Your data rights

You have rights over the personal data involved, including the right to ask about automated decision-making. Our privacy information explains these in detail.

Credicorp is an exempt business lender. The Financial Ombudsman Service and FSCS do not apply, so internal review is the route for challenging an outcome.

See also: How long a decision takes, What Credicorp stands for: our values, How our AI decision engine works.

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A decline means that, based on the assessment at the time you applied, we could not responsibly offer your limited company or LLP the borrowing requested. We know it is disappointing, so here is what it does and does not mean.

What a decline means

It means the information available did not give us enough confidence that the company could comfortably sustain the repayments. It reflects this application, this amount and this moment, not a permanent verdict on your business.

What it does not mean

• It is not a mark against you personally; we take no personal guarantees
• It does not mean the business is failing
• It does not bar you from applying again in the future

Your options

• Ask us to explain the main reasons behind the outcome
• Request that a person reviews the decision if you think something was missed
• Reapply later once the picture has changed

Credicorp is an exempt business lender. The Financial Ombudsman Service and FSCS do not cover this borrowing, but we will always try to explain a decision clearly.

See also: Why your offer amount can change, Can I reapply after a decline?, How Flex and Slice decisions differ.

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If your application comes back as referred, that is not a rejection. It means the automated assessment landed somewhere between a clear yes and a clear no, so a person is taking a closer look. Here is what is actually happening and what you can do.

Why an application gets referred

A referral usually means one of two things: the picture is close to the line on affordability, or we are missing a piece of information that would let us say yes with confidence. Common examples are a thin or very new trading history, a figure that needs confirming, or a business bank account we have not been able to read yet.

What happens next

1. We look more closely. A member of the team reviews the application alongside the automated assessment.
2. We may ask for a little more. Often the quickest path is to connect your business bank account through read-only Open Banking, or to confirm a detail.
3. You get an answer. We come back to you, usually quickly. The outcome might be an offer, an offer for a smaller amount, or — if it is genuinely not affordable — a decline with no obligation.

You can help by having your figures to hand and connecting your bank account if asked. For how the assessment works overall, see is my loan decision made by a computer? Because this is lending to a company for business purposes, 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.

See also: Can I ask a person to review an automated decision?, Can I find out why I was declined?, Can I reapply after a decline?.

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Sometimes an application from a limited company or LLP is referred rather than decided automatically. This means a member of our team will review it before a final outcome. A referral is neither an approval nor a decline.

Why an application is referred

• The automated assessment found something it could not resolve on its own
• Figures need checking against other information
• The picture is finely balanced and benefits from human judgement

What happens during a referral

A person looks at the full application, considers the context, and may contact you for additional documents or clarification. Responding promptly helps us reach an outcome sooner.

What you can do

• Watch for any message from us requesting information
• Have recent bank statements or accounts ready if asked
• Contact support if you want an update on progress

Credicorp is an exempt business lender. The Financial Ombudsman Service and FSCS do not apply, but our team will explain the outcome of a referral clearly.

See also: What 'refer' means and what happens next, Can I apply for a second loan while still repaying the first? and Can my company request a payment holiday?.

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Affordability is the heart of every Credicorp decision. Before we make an offer to your limited company or LLP, we need confidence that the business can meet the repayments from its normal trading without straining its day-to-day running.

It is about the company, not the director

Because we lend to the business and take no personal guarantees, affordability is judged on the company's own ability to repay. We look at the money the business generates and the commitments it already has, rather than any individual's finances.

What comfortable looks like

• Repayments that the business can absorb in a typical trading month
• Headroom left over for tax, suppliers, wages and the unexpected
• A term that matches the purpose of the borrowing

Why we take it seriously

Lending more than a business can sustain helps no one. A responsible affordability assessment protects your company's cash position and is why an offer may be smaller, on a different product, or declined even when you would like more.

The repayment shown in your offer reflects what the assessment found to be sustainable. There is no set figure that applies to every business.

See also: What an affordability assessment looks at for a company, What does affordability mean?, Affordability before you apply: weighing it up yourself.

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Every offer we make is affordability-led: the central question is whether this company can comfortably repay this amount on this schedule. Because the borrower is the company and we take no personal guarantee, the assessment is about the business, not the director's personal finances.

What the assessment considers

Why we lend only what fits

Lending more than a business can comfortably afford helps nobody — it just turns a cash-flow gap into a bigger one. That is why we may offer less than you asked for, and why a strong repayment record can mean more becomes available over time. Connecting your business bank account through read-only Open Banking gives the most accurate picture, but it is optional.

For how the model and the human steps fit together, see is my loan decision made by a computer? Because this is lending to a company for business purposes, 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.

See also: Can I ask a person to review an automated decision?, Can I find out why I was declined?, Can I reapply after a decline?.

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There is no trick to passing an assessment, and we would never suggest one. But a few honest steps help the decision engine see your limited company or LLP accurately, which can support a better-fitting offer.

Give a complete, accurate picture

• Make sure your company details match Companies House records
• Connect your main business bank account so trading is visible
• Choose a borrowing amount that genuinely matches the purpose

Keep the business in good order

• Keep existing commitments up to date
• Run income and costs through the business account rather than elsewhere
• File company information on time

Be realistic about the request

Asking for an amount and term that sit comfortably against your trading is more likely to succeed than stretching for the maximum. The assessment is looking for sustainability, not ambition.

Even a well-prepared application may be offered less than requested, placed on a different product, or declined if the figures do not support it. That is the assessment doing its job.

See also: What can weaken your application, How to build a simple cash-flow forecast to stay ahead of payments and How to prepare your company before you apply.

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Some things make it harder for our decision engine to build confidence in your limited company or LLP. Knowing them in advance helps you understand an outcome that was not what you hoped for.

Things that count against an application

• Irregular or unpredictable income running through the business
• Existing commitments that already absorb most of the cash flow
• Recent signs of strain, such as returned payments or arrears
• Information that does not match what we can independently see
• A requested amount that is large relative to trading

Why these matter

Each of these makes it harder to be confident the company can comfortably meet repayments. The assessment is not judging the business as a whole; it is testing whether this specific borrowing fits right now.

What you can do

If one of these applies, it is often worth waiting until the picture improves before reapplying. Connecting your business bank account can also help where self-reported figures understate how the company actually trades.

Credicorp is an exempt business lender to UK companies and LLPs only. The Financial Ombudsman Service and FSCS do not apply.

See also: Common business loan application mistakes to avoid, What can strengthen your application and Vulnerability: how to ask for extra support.

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We use a combination of data you supply directly and data we obtain from third-party sources to form a lending decision. Understanding the sources can help you ensure the information we see is accurate and complete.

Companies House and filed accounts

We check the company's registration status, filing history, and any charges registered at Companies House. Filed accounts — whether full, abbreviated, or micro-entity — give us a view of revenue, profitability, and net asset position over prior years. Where accounts are not yet filed for the most recent period, we may request management accounts instead.

Commercial credit bureau data

We obtain a commercial credit report on the company from one or more of the major UK bureaux. This report includes payment performance on existing credit facilities, any County Court Judgements (CCJs) registered against the company, and a bureau-generated risk score. We will tell you which bureau we used if a decline is partly based on bureau data, so you can check your own report.

Information you provide in the application

The application form asks for details including the purpose of borrowing, the amount and term required, recent turnover figures, and your existing credit commitments. This information is used to assess affordability — specifically whether the company's cash flow can comfortably support the proposed repayments alongside existing obligations. Inaccurate or inconsistent information can delay or adversely affect the decision, so it is worth cross-checking figures against your management accounts before submitting.

What we do not use

We do not conduct a personal credit search on directors, and we do not require a director personal guarantee. Our assessment is of the limited company or LLP as a legal entity in its own right.

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

See also: Why was my application declined?, How long does a lending decision take?.

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When your limited company or LLP accepts a Flex or Slice offer, a few final checks happen before any money is released. Understanding them helps set expectations for the last stage.

Final checks before payout

• We confirm your company and bank details are correct
• We complete any remaining verification
• A person confirms the payout, because money out is always a human step

Why a person confirms payout

Even though the assessment is automated, releasing funds is reviewed and confirmed by a member of our team. This is a deliberate safeguard against error and fraud, and it protects your business as much as ours.

If something changes

If new information comes to light between acceptance and payout that materially changes the picture, we may need to revisit the offer. This is rare, and we will explain clearly if it happens.

Credicorp is an exempt business lender to UK companies and LLPs only. The Financial Ombudsman Service and FSCS do not apply to this borrowing.

See also: What a referred application means, How long a decision takes, Why a human confirms every payout.

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If your company's circumstances change materially between the date of our offer and the date you wish to draw down the funds, you are required to notify us before proceeding. Drawing down against an offer where the underlying position has materially changed without disclosure can affect the validity of the loan agreement.

What counts as a material change?

Not every development requires disclosure, but the following typically do:

• A significant deterioration in revenue or the loss of a major contract — for example if turnover has dropped by 20% or more since the assessment was carried out (illustrative threshold, not a guaranteed figure).
• A new CCJ or default registered against the company.
• A change in company ownership or directorship, particularly where the incoming party has adverse credit history.
• The company entering a formal insolvency process, including administration, a CVA, or a winding-up petition being presented.
• The purpose of borrowing changing materially from what was stated on the application.

What we will do when you notify us

We will review the updated position and advise you promptly. In straightforward cases — for instance a minor, temporary dip in revenue that does not affect the affordability case — we may confirm the offer remains valid without amendment. In more significant cases, we may need to refresh the assessment, amend the terms, or in some cases withdraw the offer. We will always explain our reasoning.

Why disclosure protects your company

Proceeding to drawdown on the basis of circumstances that no longer reflect reality can create complications further along the loan term, particularly if a repayment difficulty arises and a question is raised about what was known at origination. Early, transparent disclosure is always the better course.

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

See also: How long is a loan offer valid?, Can I change the loan amount after receiving an offer?.

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A fair question deserves a plain answer: what are we actually reading when we decide? Everything below is about your company, because the loan is to the company and we take no personal guarantee. We are not assessing the director as an individual.

1. How the company trades

We look at what the business earns and how steadily. A short-term Business Bridging Loan is repaid over a few weeks, so what matters is whether trading income comfortably covers the repayments alongside normal outgoings. We are not looking for a large company — just one whose income makes the specific amount you want affordable. A short but healthy recent trading history can be enough.

2. How the business bank account behaves

The company's main bank account tells an honest story across roughly the last six months: money in, money out, and whether the account is run in a healthy way. Regular income, an account that is not constantly at its limit, and an absence of returned payments all help. You share this either by read-only Open Banking or by uploading statements — see how we verify bank statements and Open Banking. Either way we are reading the account, never moving money from it.

3. The business credit file

We run a credit check on the company through business credit reference agencies — Experian Business, Creditsafe and Equifax Business. This shows the company's payment history with other creditors and any adverse markers against the business. We also carry out an identity and anti-money-laundering check on the director, but that is a verification step, not a personal credit search, and it does not touch the director's personal consumer credit file. See what we share with business credit reference agencies.

Behaviour, in context

Our assessment also looks at how an application behaves in context — for example the amount requested against the company's normal cash flow, the product chosen, and the pattern of any recent activity. This is read sensibly and in proportion: it is there to lend responsibly, not to catch you out. The aim is always the same single question, can this company comfortably repay this amount on this schedule.

What we deliberately ignore

We do not assess the director's personal income, personal credit score, salary, household budget or benefits, and we do not ask you to put up personal assets, because there is no personal guarantee. If a decision turned on your personal finances, that would be the wrong question for this product.

How it fits together

No single factor passes or fails on its own. A strong bank account can balance a thin credit file; steady turnover can offset a quiet recent month. That is also why we sometimes offer less than you ask for, or decline, even when parts of the picture look good — see why your company might be offered less than it asked for. For the principles behind it all, read how we lend.

See also: Can I ask a person to review an automated decision?, Can I find out why I was declined?, Can I reapply after a decline?.

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When you ask a person to review a decision on your limited company or LLP, the documents you provide make a real difference. They let us see context the automated assessment could not.

Documents that help most

• Recent business bank statements showing how the company trades
• Up-to-date management accounts or filed statutory accounts
• Evidence of contracts or orders that support future income
• An explanation of any one-off events that distorted recent figures

Why context matters

A model reads patterns. If something unusual happened, such as a large one-off cost or a delayed customer payment, plain context helps us judge whether the underlying trading is stronger than the raw data suggested.

Keep it relevant and accurate

Send information that genuinely reflects the business. Anything misleading will undermine the review rather than help it. We assess the company itself and take no personal guarantees from directors.

Credicorp is an exempt business lender to UK companies and LLPs only. The Financial Ombudsman Service and FSCS do not apply.

See also: Managing who can access your company account, How to appeal a decision and Do you make automated decisions about my application?.

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When your company applies, part of the assessment is a look at its business credit file. People often ask exactly which agencies we consult, so here is a plain answer.

The agencies we consult

We check the company's file with one or more of the main UK business credit reference agencies:

• Experian Business — commercial credit files and a delinquency score built from payment performance and public data.
• Creditsafe — company credit reports and scores widely used by lenders and suppliers.
• Equifax Business — commercial credit reporting and scoring through its business arm.

We do not always check all three on every application. Which agency or agencies we use can depend on the company and the product you are applying for. Each agency holds its own data and runs its own model, so a company can score differently with each — there is no single universal business score.

These are business agencies, not personal ones

The agencies above hold information about companies, not about you as an individual. That matters because the borrowing is recorded against the company's credit picture, not your personal consumer file, and we never take a personal guarantee. We do run an identity and anti-money-laundering check on you as a director, but that is a separate step from the company credit search. If you want the fuller picture of how these agencies work and how your own company can check its file, see business credit reference agencies explained.

Soft search, then hard search

At the early eligibility stage, any check is a soft (quotation) search. A soft search is visible to you but not to other lenders, and it leaves no mark that affects how your company is seen elsewhere. A recorded hard search happens only when you move to a full application, and we tell you about the type of search before we run it. We set out what we send back to the agencies in what does Credicorp share with business credit reference agencies?

How the file feeds the decision

The agency file is one of three inputs into the outcome, alongside how the company trades and how its business bank account behaves. No single entry decides the result on its own — we explain the wider role of the search in why a credit search is part of the decision, and how the bank-account read fits in how your bank data affects the decision.

Credicorp lends only to UK limited companies and LLPs for business purposes. As an exempt lender, the Financial Ombudsman Service and FSCS do not apply to this borrowing.

See also: Can I ask a person to review an automated decision?, Can I find out why I was declined?, Can I reapply after a decline?.

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As part of assessing your limited company or LLP, we look at business credit information. This helps us understand the commitments your company already carries and how it has handled credit in the past.

What a search tells us

• Existing finance and the obligations behind it
• How reliably past commitments have been met
• Public information filed about the company

How it shapes the offer

A strong track record gives the assessment more confidence, which can support a larger amount or a wider choice between Flex and Slice. Signs of strain may lead to a smaller offer or a referral for a closer look. No single entry decides the result on its own.

Searches and your record

We will tell you about the type of search we run before we run it. Business credit checks are recorded against the company, not against any director personally, and we never take personal guarantees.

Credicorp is an exempt business lender. The Financial Ombudsman Service and FSCS do not cover this borrowing.

See also: How existing debt affects the decision, Can a company with arrears elsewhere still apply? and Does my company's filing status at Companies House matter?.

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Our lending decision is largely automated, and the outcome is authoritative rather than a draft someone later rubber-stamps. But there is one step we deliberately keep in human hands: actually releasing the funds. No money leaves Credicorp until a person has confirmed the payment.

Why we keep this step manual

An automated assessment is the right tool for deciding consistently and quickly. Moving money is different — it is irreversible and it is exactly where fraud and error do the most damage. A human confirmation at the payout stage is a simple, strong safeguard: it is a final check that the right amount is going to the right verified account for the right, accepted offer.

What it means for timing

In practice this rarely slows you down. Once you accept your offer, funds typically reach your business bank account the same day. The human confirmation is built into that flow; it is a safeguard, not a queue you wait in. For how funding speed works, see the answer on how fast funding arrives in our applying section.

This is part of how we lend responsibly: automate the assessment for consistency, keep the irreversible step under human control. For the wider picture, see is my loan decision made by a computer? Because this is lending to a company for business purposes, 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.

See also: Can I find out why I was declined?, Can I reapply after a decline?, Does a CCJ against my company affect eligibility?.

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It can feel surprising to apply twice and get two different answers. It is not inconsistency — it is the assessment doing its job. We look at whether the borrowing is comfortably affordable at the time you apply, and a company's circumstances move.

What can change between applications

• Your track record. Repaying earlier borrowing on time is strong evidence of affordability and can mean a larger amount becomes available — see how on-time repayment grows your available amount.
• Your cash flow. A stronger period of trading can support more; a quieter one, or new commitments, can support less.
• What you asked for. A different amount or term changes the size of the repayments and therefore the affordability picture.
• The information available. Connecting your business bank account through read-only Open Banking can give a fuller, more up-to-date view than a previous application had.

If you were offered less than before and want to understand why, you can always ask us to explain the main factors and reconsider with new evidence — see asking a person to review your decision. Every offer is shown in full before you commit, and you are never under any obligation to take it. Because this is lending to a company for business purposes, 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.

See also: Can I find out why I was declined?, Can I reapply after a decline?, Does a CCJ against my company affect eligibility?.

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It is common for a limited company or LLP to get a different outcome from Credicorp than from a high-street bank, in either direction. That is not a contradiction; it reflects how lenders differ.

Why outcomes vary between lenders

• Each lender uses its own criteria and risk appetite
• Different data sources give a different read on the same business
• Products are shaped differently, so affordability is judged differently
• Timing matters; assessments reflect the picture on the day

What it means for you

A decline elsewhere does not mean we will decline, and an offer from us does not mean every lender would agree. We assess your company against our own view of sustainable borrowing.

How we differ

We lend only to UK companies and LLPs for business purposes, take no personal guarantees, and base offers on the company's own ability to repay. The rate and terms in your offer reflect that assessment, not a standard product price.

Credicorp is an exempt business lender. The Financial Ombudsman Service and FSCS do not apply.

See also: How your bank data affects the decision, How is Flex different from a business overdraft? and What we look at when we make a lending decision.

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When a lending decision comes back as a decline, it means our assessment found that the application did not meet our current criteria at this time. The reasons vary, but they fall into a small number of categories that are worth understanding before you consider next steps.

Common reasons for a declined application

• Trading history too short. We typically look for at least twelve months of filed or management accounts. Very early-stage companies may not yet have enough financial track record for us to assess repayment capacity reliably.
• Adverse credit data on the company. County Court Judgements (CCJs), outstanding defaults, or a history of late payment on existing credit facilities can reduce the confidence our model places in future repayment.
• Affordability. If the company's recent revenue or profit does not comfortably support the proposed repayments alongside existing obligations, the application is likely to be declined on affordability grounds.
• Industry or purpose outside our appetite. We do not lend into every sector, and some borrowing purposes fall outside our current underwriting appetite.
• Information gaps. Incomplete or inconsistent information in the application — for example figures that do not reconcile with filed accounts — can trigger a decline rather than a delay.

What the decision letter tells you

Our decision communication will indicate the broad category of the reason for decline. We are not always able to share every data point used — particularly where it relates to third-party bureau data — but we will tell you which bureau we used so you can obtain your own report and check for errors.

What to do if you think the decision is wrong

If you believe the decision was based on inaccurate data — for example a CCJ that was satisfied and incorrectly recorded, or accounts that were not matched to the correct company — you can contact us to raise a query. See the article on appealing a decision for how that process works.

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

See also: Can I reapply after a decline?, How do I appeal a lending decision?.

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Being offered less than you asked for can feel like a half-no. It is not meant that way. A reduced offer almost always means the same thing: we think the company can comfortably afford this amount, but the full amount looked tight against how the business actually trades. Here is the honest reasoning, and what you can do about it.

What a smaller offer means

Our assessment is built around one question — can this company comfortably repay this amount on this schedule? When the answer is "yes, but only up to a point", we offer up to that point rather than stretching you to the edge of your cash flow. It is the responsible-lending version of "not this much, not yet". A loan you can clearly afford is better for your business than one that leaves no room if a customer pays late.

Why it happens

• Affordability headroom. Turnover and the rhythm of money through the business bank account support a smaller repayment more comfortably than the full one.
• Recent account behaviour. Returned payments, an account run at its limit, or a thin recent period can lower the amount we are comfortable lending right now.
• Business credit file. Markers against the company can reduce the amount even where some affordability is there.
• First loan with us. We often start smaller and increase what is available as you build a clean repayment history.

For the full picture of what feeds the decision, see what information goes into a lending decision.

What you can do

• Take the smaller amount if it still does the job — you will see the figures in full first.
• Decline with no obligation; a reduced offer never commits you to anything.
• Ask us to look again. If something about the company's position was missed or has changed, you can request a human review and add evidence — see how to ask a person to review a decision.

Borrowing again later

A smaller first offer is often the start of a longer relationship, not a ceiling. As you repay on time, the amount available to your company can grow. If a reusable line would suit your cash flow better than a one-time loan, Credicorp Flex lets you draw and repay against an agreed limit. Whatever you choose, every figure is shown before you commit, and you can compare amounts and terms on our business loans page.

See also: Can I find out why I was declined?, Can I reapply after a decline?, Does a CCJ against my company affect eligibility?.

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The amount in any offer to your limited company or LLP reflects what our assessment found sustainable at the time, not simply what you requested. That is why offers can differ from your ask and change over time.

Why it can be lower than requested

If the figures suggest the full amount would stretch the business, we may offer a smaller amount that fits comfortably. A smaller offer is a responsible outcome, not a rejection.

Why it can change between applications

• Trading has strengthened or weakened since you last applied
• Existing commitments have grown or reduced
• Your repayment track record with us has built up confidence
• The product or term you chose differs from before

How to think about it

Treat the offered amount as a reflection of current capacity. Consistent, on-time repayment is the most reliable way to support a larger amount in future.

Credicorp is an exempt business lender. The Financial Ombudsman Service and FSCS do not apply to this borrowing.

See also: Understanding a decline, What an affordability assessment looks at for a company, How on-time repayment grows your available amount.

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