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Credicorp vs a business overdraft
An overdraft is flexible but open-ended, repriceable and revocable. A Credicorp short-term loan is a fixed amount, a fixed term and a capped cost. Here is how they compare for a UK company.
- 1 hour Typical decision in working hours
- Same day Funding once you accept the offer
- £50–£2,000 Advanced to UK limited companies
- 100% cap Total cost of credit, capped — never repay more than double
- No PG No personal guarantee — we lend to the company
Applications reviewed by Credicorp to date: thousands of UK companies
Figures are the published product terms, resolved from our single pricing source (/ai.md). Every application is assessed on its own merits — approval is never guaranteed.
In short
Choose Credicorp for a defined, capped, one-off need; an overdraft can suit a permanent day-to-day buffer if your bank still offers one.
Side by side
| Credicorp | A business overdraft | |
|---|---|---|
| Structure | Fixed amount over a fixed short term | Open-ended revolving buffer on your current account |
| Cost visibility | Total cost shown up front and capped at the cost cap | Interest plus fees that accrue while overdrawn; can be hard to predict |
| Certainty | Cannot be withdrawn mid-term; you keep the agreed funds | Can be reduced, repriced or withdrawn by the bank |
| Personal guarantee | None — the company is the sole obligor | Often required, especially for newer or smaller companies |
| Speed to set up | Decision typically within the hour, same-day funding | Application and review can take days to weeks |
| Best for | A specific short-term need with a clear end | A standing everyday cash buffer |
When A business overdraft may suit you better
We would rather you borrow well than borrow from us. Consider the alternative if:
- You want a permanent, always-available buffer rather than a one-off advance
- Your bank offers an overdraft on terms you are happy with
Otherwise, for a fast, capped, company-only short-term need, Credicorp is built for exactly that.
What Credicorp gives you
- £50–£500 of short-term business credit, lent to the company
- No personal guarantee and no personal credit search on any director
- Total cost of credit capped at 100% — you never repay more than double
- Decision typically within the hour, same-day funding on acceptance
- Interest only for the days you borrow — settling early costs less
Your instant cost preview
Drag to your figure — see exactly what you would repay before you apply. No credit search, no obligation.
Capped at 100% of the amount borrowed.
Illustration only, not an offer or a lending decision, and not a quote personal to you. Interest is simple (no compounding) and charged only for the days you borrow, so settling early costs less. Full terms and the single pricing source: Business Loan · /ai.md.
Common questions
- Is a Credicorp loan cheaper than an overdraft?
- It depends on the amounts and how long you borrow. A Credicorp loan shows the total cost up front and caps it, whereas overdraft charges are open-ended. Use the preview to compare against your overdraft costs.
- Do I need a personal guarantee with Credicorp?
- No. Credicorp lends to the company — a UK limited company or LLP — as the sole obligor. There is no personal guarantee and no personal credit search on any director. The debt is the company's, not yours.
- How fast is Credicorp?
- Applications are reviewed in working hours, with a decision typically confirmed within the hour and same-day funding once you accept the offer.
Decision in minutes
Apply in minutes, get a decision typically within the hour, and have the funds the same day you accept — no personal guarantee, capped cost.
Comparisons describe the general structure of each option, not specific competitor pricing. Credicorp lends to UK limited companies and LLPs under the body-corporate exemption (Articles 60B and 60L of the FSMA (Regulated Activities) Order 2001); this is not consumer lending, and the FOS and FSCS do not apply. Short-term business credit carries a high annualised cost — borrow only what you need, for the shortest term. Full details: regulatory status and responsible lending.
Before you go — see your cost in 5 seconds
No credit search, no obligation. Borrow £50–£500, get a decision within the hour in working hours, and same-day funding once you accept. We lend to the company — no personal guarantee.
Or use the full calculator first.