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.