Will applying for a Credicorp loan affect my credit file?
This is lending to your company, not to you personally, so it is the company's credit position we look at — not the director's personal consumer credit file. Here is exactly how that works.
Checks when you apply
When the company applies, we carry out two things: a business credit check on the company (using business credit reference agencies) and an identity check on the director to confirm who we are dealing with and to meet our anti-money-laundering obligations. The identity check is a verification step; it is not a personal lending search and is not recorded as one.
We do not record this loan, or the application for it, against the director's personal consumer credit file with Experian, Equifax or TransUnion. Borrowing with us will not show up when you next apply for a personal mortgage, card or loan.
The company's business credit file
The loan and how it is run can be reported to business credit reference agencies — Experian Business, Creditsafe and Equifax Business. That means:
- payments made on time build the company's record of good account management;
- missed payments or arrears may also be reported against the company;
- after the account is settled and closed it stays on the company's business file for a period so other business lenders can see the full picture.
How to see the file
A company can check its own business credit file with any of the business agencies above. A director can separately check their personal file with Experian, Equifax or TransUnion at any time — each must give free access under data-protection law, and looking at your own file never affects it.
If something looks wrong
If you think we have reported something incorrectly about the company, please raise it — the General Support Enquiry form on our Forms & Requests page is the right place to start. We will investigate and, if a correction is needed, ask the relevant agency to update the record. Our Privacy Policy sets out in full how we use credit reference data and your rights over it.