Honestly comparing the cost of borrowing
Credicorp is built for small, short borrowing — £50 to £500 for a few days or weeks. We are not a like-for-like swap for a £10,000 multi-year business loan. If you need more, or for longer, the options below are usually cheaper per pound. Here is an honest, sourced comparison so you can choose what is right for you.
Indicative cost per £100 borrowed, per 30 days (illustrative)
| Option | How it is priced (provider’s own words) | Typical amount & term |
|---|---|---|
| CredicorpSmall, short bursts of cash — £50 to £500 for a few days or weeks. | 0.25% interest per day · £5 one-off fee · total cost capped at 100% of the amount borrowedInterest only; the £5 fee is one-off, not per 30 days. Paying early reduces the total. | £50–£500 · 14–84 days |
| Provider A — flexible business loanDraw-down facility for larger sums over months to a couple of years. | From 1.5% interest per 30 days · 49% APR representativeTheir "from" rate; ≥51% of qualifying customers get the 49% representative APR or lower. | £1,000–£1,000,000 · 1 day–2 years |
| Provider B — marketplace business loanFixed-term business loan for established limited companies. | From 6.9% APR per year · one-off completion feeA "from" rate, not a worked representative example. Eligibility is restricted (≈2 years trading). | £10,000–£750,000 · up to 6 years |
| Provider C — merchant cash advanceAn advance repaid as a percentage of your daily card takings. | No APR published — one fixed cost agreed upfront, repaid via 5–15% of card salesThe provider publishes no APR or factor rate, so it cannot be placed on the per-£100 scale. The 5–15% figure is the share of card sales swept to repay, not the cost. | £10,000–£500,000 · ~6–10 months |
| Provider D — high-street bank loanUnsecured small-business loan from a major bank. | 5.25% APR representative (rates vary by amount and circumstances)The bank’s own representative example uses an 8.2% fixed rate on £7,500, so the rate you get may be higher than 5.25%. | £1,000–£100,000 · 1–7 years |
Why we don’t just compare APRs
- APR annualises cost as if you borrow for a year. For a few days or weeks it makes a small actual cost look enormous, so it is the wrong lens for short-term credit.
- A merchant cash advance has no APR at all — it is a fixed cost repaid from card takings — so it cannot be lined up in an APR column.
- We normalise to “cost per £100 borrowed, per 30 days” so different sizes sit side by side — but the products still serve different needs and amounts. Treat it as illustrative, not a quote.
- Always check the provider’s current rate before deciding — rates change.
Sources
Competitor figures quoted from each provider’s own website, accessed 6 June 2026. Figures change — please verify with the provider.
- Provider A — flexible business loan: iwoca — Flexi-Loan — “1.5% per 30 days”; “Representative APR 49%”; £1,000–£1,000,000; 1 day to 2 years. https://www.iwoca.co.uk/flexi-loan
- Provider B — marketplace business loan: Funding Circle — Business Loan — “From 6.9% per year”; £10,000–£750,000; term loan up to 6 years; one-off completion fee. https://www.fundingcircle.com/uk/
- Provider C — merchant cash advance: 365 Finance — Merchant Cash Advance — “No interest rates, APRs or fixed payments”; repaid via “typically between 5% and 15% of your card sales”; £10,000–£500,000; ~6–10 months. https://www.365finance.co.uk/merchant-cash-advance/
- Provider D — high-street bank loan: NatWest — Small Business Loan — “Representative APR 5.25%”; representative example £7,500 at 8.2% fixed, total £8,253; £1,000–£100,000; 1–7 years. https://www.natwest.com/business/loans-and-finance/small-business-loan.html