Business loan FAQs UK

The company is the borrower, not you: what lending to a limited company rather than its director means for liability, credit files, the assessment, repayments and default — traced through the whole life of a loan.

Refinancing a business loan in the UK: replacing one facility with another to cut cost or restructure. The arithmetic that decides whether it helps, settlement figures to check first, and when refinancing just moves a problem.

What a business loan with no security and no personal guarantee really means in the UK: no charge over assets, no director backstop — but the company remains fully liable. The nuance most 'unsecured' adverts leave out.

How a business credit score works in the UK: what feeds your company's rating, why it differs by agency, and practical steps to improve it.

A body corporate is a company or LLP — a separate legal person. Here is why lending to one sits outside FCA consumer-credit rules.

UK business lending requires a 'wholly or predominantly business purpose'. Here is what the test means, examples that do and do not qualify, and the declaration you sign.

APR vs daily interest rate UK: APR can overstate the cost of very short-term borrowing. Here is why we show the total cost of credit and a simple annualised rate instead.

Regulated vs unregulated business loans UK: some fall under FCA consumer-credit rules; many do not. Here is the Article 60B line and what protections apply.

Bridging loan vs term loan vs credit facility in the UK — each is built for a different need. Here is how each works and where our products fit.

Experian Business, Creditsafe and Equifax Business build credit files on companies. Here is how the UK business credit reference agencies differ from personal CRAs and how to check yours.

Secured vs unsecured business loans UK: secured loans are backed by an asset; unsecured are not. Here is the trade-off, and why our loan is unsecured with no personal guarantee.

Wondering what a personal guarantee is in the UK? It makes a director personally liable for a company's debt. Here is how it works, and why we do not take one.

Alternatives to short-term lending in the UK: overdraft, credit card, invoice finance and grants compared honestly. Know the options before you borrow.

A UK business loan is money borrowed by a company for business purposes, repaid with interest. Here is how it differs from a personal loan, who can borrow, and how our company lending works.

You can settle your UK business loan early at any time with no hidden fee. An early-settlement charge of up to 28 days' interest may apply — the exact amount is always shown before you confirm.

The Key Information Sheet for a UK business loan summarises the cost and terms in plain English. Here is a section-by-section guide to what to check before you sign.

FOS and FSCS in UK business lending: the FOS resolves complaints; the FSCS compensates when firms fail. Here is why a loan to a UK company falls outside both schemes.

A short-term UK business loan is the wrong tool for some problems. Here is an honest guide to when you should not borrow, and what to consider before applying.

Yes — a UK LLP can apply for a business loan with us on the same footing as a limited company. Who signs, what a designated member is, how the LLP is assessed, and the ordinary-partnership trap to avoid.

No filed accounts, no business plan, no forecasts: a UK business loan application with us runs on director ID, the company's registration and six months of bank activity. What is genuinely required and what is not.

Minimum trading time for a UK business loan: we publish no fixed rule, but affordability is read from roughly six months of business bank activity — so that window is the practical benchmark, and here is why.

No — we run a business credit check on the company and an identity check on the director. No personal credit search, no footprint on the director's consumer file, and the loan is never reported against you personally.

The affordability signals that decide a UK business loan: income regularity, account headroom, returned payments, existing repayment load and trend direction — read from six months of the company's bank activity.

How fast business loan funds arrive in the UK: after you sign, release is typically by Faster Payments to the company's verified business account — often the same business day, depending on the time of day you sign.

Can a UK company get a business loan with a CCJ or adverse credit? It depends whose record it is, how recent, and whether it is satisfied. How we weigh company CCJs, and why a director's personal history is not part of our check.

Can a new limited company get a business loan in the UK? In principle yes, but affordability is assessed on the company's own trading, so a company with no bank history usually cannot show enough. What counts and what to do instead.

The business purpose declaration UK lenders require: a statement that your borrowing is for your company's business. Here is what it is, why we need it, and why honesty matters.

How to apply for a UK business loan: see the cost first, then create an account, add your company and bank, and sign. Here is the whole journey, step by step.

ID verification for a UK business loan application: we check the director's identity to meet anti-money-laundering rules. It is not a personal credit search and does not affect your personal credit file.

After signing the business loan agreement in the UK, funds go to your company's bank account, repayments follow the KIS schedule, and you track everything in the portal.

How long a business loan decision takes in the UK: often minutes when you connect your bank via Open Banking and your company profile is clean. Loan processing time explained.

Reapply after a declined UK business loan: there is usually a wait of 30 days and up to 90. Here is why the cooldown exists and how to use it well.

We assess the company, not your personal income: UK business lenders look at turnover, business bank account behaviour, and the company credit file. Here is what counts.

A declined business loan application in the UK is not a dead end. We explain why, you have a right to human review under UK GDPR, and you can reapply after a short cooldown.

Open Banking bank statement verification in the UK: read-only access you authorise through your own bank, revocable at any time. Plus the PDF alternative if you prefer.

Documents needed for a UK business loan application: director ID, your company details, and six months of business bank activity via Open Banking or PDF statements.

Sole trader vs limited company borrowing in the UK: who owes the debt, which credit file it touches, whether it is FCA-regulated, and what happens on default differ completely between the two structures.

A fair look at how iwoca, Cubefunder, Capify and Credicorp differ, so a director can pick the lender that actually fits the need.

Invoice finance vs short-term loan UK: if you are waiting on unpaid invoices, invoice finance may beat a loan. How factoring and discounting work versus a fixed short-term advance.

Bank overdraft vs short-term business loan UK: cost, flexibility and certainty compared honestly so you can pick the right tool for your company.

Sole trader to limited company UK before applying for finance: a guide covering tax, limited liability, lending eligibility, and what incorporating does and does not change.

Merchant cash advance vs term loan UK: a cash advance flexes with your card takings; a term loan has fixed instalments. Predictability vs flexibility, and the cost of each.

A director's loan to your own UK company: the director's loan account, s455, benefit-in-kind basics and where to get tax detail — so you can borrow or lend to the company correctly.

Limited company, LLP or sole trader loan UK: we can lend to limited companies and LLPs but not sole traders. The reason is legal personality and regulation, explained plainly.

Loan Agreement vs Facility Agreement UK: a Business Loan Agreement is a fixed one-time sum; a Revolving Credit Facility Agreement governs running credit. What each one means for you.

Usually no: in UK company law the company is a separate legal person and we take no personal guarantee. Narrow exceptions are fraud, wrongful trading or a guarantee elsewhere.

Business credit card vs short-term loan UK: revolving card or fixed loan? When a card is cheaper, the discipline it needs, and how each one actually works.

Forward suspicious emails to security@credicorp.co.uk and do not click any links. Credicorp will never ask for your password, PIN or full bank details by email or text.

We confirm a small set of details before discussing your account on a call — typically your name, date of birth, address and a couple of digits from your account number. We will never ask for full security details like a banking password.

Data protection at a UK lender: we hold customer information on secure UK systems, encrypt data in transit, and share it only with the credit-reference agencies, regulators and partners in our Privacy Policy.

How to spot a loan scam impersonating a UK lender: genuine Credicorp messages use credicorp.co.uk addresses and refer to your real account. We never pressure you to move money or share a one-time code.

Log in to your account and use the Documents section to download your settlement letter. If the loan closed more than 90 days ago or the document is not listed, email us and we will send one within two working days.

How long a UK lender keeps records: for most customer loan files, around six years after the relationship ends, in line with UK business-lending and tax-record rules.

Yes. Accessible loan documents UK — we can provide letters, statements or forms in larger print, plain language, or an accessible electronic format on request.

CM Beyer Limited is a related United Kingdom company in the same group. Credicorp Limited and CM Beyer Limited are separate legal entities that share a common corporate background.

Each market is served by its own legal entity. Credicorp Limited serves UK customers; Credicorp Pty Limited serves Australian customers. CM Beyer Limited in the UK is a related company in the same group.

creditcorp.co.uk is the front-door site for the Creditcorp brand — the name the group is growing into. The lender you borrow from is Credicorp Limited at credicorp.co.uk. The two names belong to the same group.

Re-borrowing from a UK business lender: a top-up is a fresh lending decision, not an automatic extension. We run a new affordability check and issue a new KIS; good standing helps.

Running credit facility vs one-time loan UK: a one-time loan is a fixed sum drawn once and repaid on a schedule; a running-credit facility lets you draw, repay and redraw.

Sign in to your customer portal to manage your loan, and add our app to your phone's home screen for quick access on the go.

How loan interest is calculated in the UK: we charge simple interest, not compound interest. Here is a clearly-labelled illustrative example of how the maths works on a short-term business loan.

We offer a voluntary 14-day window to withdraw from your UK business loan. It is our policy, not a statutory consumer right — here is how to use it.

How to change the company account we collect from or pay to, safely. We verify every change, and we never act on an unfamiliar request.

Download statements yourself in a few clicks from the customer portal, or request one through our forms if you need it sent another way.

A business loan rollover UK extends a loan instead of repaying it. We cap rollovers because they add cost. If you are struggling, hardship support is the better route.

Early repayment of a UK business loan: you can settle at any time and usually save on interest. Request a settlement figure — it shows any early-settlement charge before you pay.

Once your Business Loan Agreement is signed and approved, we release your funds to the company's bank account, usually the same business day.

Your UK business loan payment due dates are listed in your Business Loan Agreement and on every statement. If a due date falls on a weekend or bank holiday, payment is expected on or before that date.

Card payments are usually visible the same working day. If a payment is missing after three working days, request a statement of account or contact us with the date, amount and reference.

Yes — you can overpay a UK business loan at any time. Making a one-off overpayment or paying more than your scheduled amount reduces the interest you pay and can shorten the loan.

A failed Direct Debit on a UK business loan is treated as a missed payment. Contact us early to arrange a replacement and prevent fees or an impact on your company credit file.

How to make a payment on a UK business loan: online through the portal, by debit card over the phone, or by Direct Debit so payments are taken automatically on your due date.

How long a UK business loan payment takes to clear: card payments usually show the same working day; Direct Debit and bank transfers can take up to three working days.

Any fees that can apply are listed in your Business Loan Agreement. We would always rather agree an arrangement with you than apply a charge, so contact us early.

Yes. You can pay a UK business loan off early at any time. Request a settlement figure and we will confirm the amount needed, including any early-settlement charge.

What APR means on a UK business loan: APR is a regulated consumer-credit measure. For business lending we show the total cost of credit and a simple annualised rate, with every figure set out before you sign.

A business loan top up or term extension is a new lending decision, not an automatic change. We assess the company's affordability afresh and, if approved, issue a new Key Information Sheet (KIS) for you to consider.

How interest is charged on a UK business loan: in line with the rate and method in your Business Loan Agreement. Your agreement and statements show exactly how it is applied.

The Key Information Sheet (KIS) for a UK business loan is the plain-English summary given before you sign. It sets out the rate, fees, total amount payable and key terms on one page.

Yes. Referrals from existing customers are welcome and we publish the current referral terms in the portal. There is no pressure — we only want referrals where you genuinely think we are the right fit.

You can upload PDF bank statements instead. The decision uses the same information; it just takes a little longer because the statements need to be processed.

Yes. Where the file supports it, we present a small set of offers with different amounts and terms so you can choose the one that fits your business.

The Financial Conduct Authority maintains a public register of every firm it regulates. Each firm has a Firm Reference Number (FRN). Looking us up on the FCA register is a simple way to check you are dealing with the genuine company.

Your GDPR data rights from a UK lender: ask for a copy of the personal information we hold at any time, free of charge. Use the portal, the General Support form, or email our privacy team.

For most applicants with a clean profile and an Open Banking connection, an outcome arrives in minutes. PDF uploads take longer because the statements need to be processed. Anything routed for human review can take up to a working day.

If you become unable to pay your UK business loan, we treat it as a conversation, not a default. Tell us early and we can pause, restructure or refinance — talk before a payment is missed.

Our mobile app is a progressive web app you add to your phone's home screen — no app-store install needed. Open credicorp.co.uk/app on your phone, or sign in to the full portal at credicorp.co.uk/portal.

No. Returning customers see a much shorter flow. We re-use the identity and company information we already have, and we will normally only need to refresh the bank statements and confirm the loan purpose.

Open Banking is a UK-regulated, FCA-supervised framework. Where we offer it, you authorise read-only access to your business bank statements — your password is never shared and you can revoke at any time.

Yes. Where the borrowing company has more than one director, both can be associated with the application. The loan is still to the company, and no director is asked for a personal guarantee.

Yes. Calls to and from Credicorp are recorded for training, quality and to keep an accurate record. Our Audio Recording page and Privacy Policy explain how.

You have the right to request erasure of your personal data. We will act on valid requests within 30 days. Some data must be retained for legal and regulatory reasons — we explain exactly what and for how long.

No. We lend to the company, not you personally. We run a business credit check on the company — we do not record an application against the director's personal consumer credit file.

How to make a DSAR (data subject access request) to a UK lender: email our privacy team or use the General Support form. We will respond within one calendar month.

A settlement figure tells you the exact amount needed to clear your UK business loan on a chosen date. Request one using the Settlement Figure form in the portal.

Keeping your phone number, email and address current means you never miss an important notice. Use the Update Your Details form and we will confirm the change.

Yes. You can ask for a copy of your signed Business Loan Agreement at any time. Use the Copy of Agreement form and we will send it to you.

You can ask for a statement at any time, free of charge. Complete the Request a Statement form and we will send it to you by email or post.

Once your balance is fully cleared and any final adjustments are settled, your account is closed automatically. You can also ask us to confirm the closure in writing.

Use the Update Your Contact Details form to tell us about a change of address, phone number, email, authorised contact, or the company name. We will normally update the record within two working days.

What happens after you complain to a UK lender: we acknowledge, investigate, and send a written response. As we lend only to limited companies, our final response is the last formal stage.

How to make a complaint to a UK lender: use the Make a Complaint form, email or phone. We will acknowledge it promptly and work to put things right.

No Ombudsman deadline applies to complaints about UK business loans to limited companies. Our final response is the last stage and there is no statutory time limit for raising a complaint.

Hardship and forbearance at a UK lender: payment arrangements, a short freeze, or a hardship variation — explained clearly and step by step for companies struggling to repay.

Vulnerable customer support from a UK lender: if health, bereavement, caring or other circumstances make things harder, ask for extra support. Here is what counts and how to tell us.

Worried about a missed payment on your UK business loan? Tell us before the due date and we will work with you. Here are the practical steps and where to get free advice.

The complaint process at a UK lender: how to complain, the stages we follow, our final response, and how to escalate if you remain dissatisfied.

If your UK company faces winding up or administration, here is what it means for the loan, the role of an insolvency practitioner, and why to talk to us early.

No. Credicorp Limited is a separate, independent UK company. It is not connected with Credicorp Ltd of Peru, Banco de Crédito del Perú, or any similarly named overseas business.

Credicorp Pty Limited (ACN 679 428 605) is our related company in Australia. It is a separate legal entity that operates in Australia, while Credicorp Limited operates in the United Kingdom.

Credicorp Limited is a United Kingdom business lender and part of the CM Beyer group, registered in England and Wales (company number 16093826) and based in London.

Verify you are dealing with the genuine UK lender: our official website is credicorp.co.uk, registered office in West Drayton UB7 0LB, company number 16093826. Check these details if ever unsure.

Credicorp Limited is registered in England and Wales (company number 16093826), with its registered office at Suite AU31848, 9 Skyport Drive, Harmondsworth, West Drayton UB7 0LB.

Slice is for one-off business bills paid to a UK supplier — invoices, VAT and tax payments, utility bills, insurance renewals, and business repairs. It is not available for personal spending.

Yes. You can repay at any time with no penalty. The unused part of the Slice fee is refunded when you settle early.

Credicorp Slice splits a one-off business bill into three or four instalments. We pay your supplier in full today; you repay us over the next few weeks.

Slice charges a single flat fee on the bill amount. There are no hidden extras. If you pay your instalments on time, you will never pay more than the fee we show you upfront.

How to flex drawdown UK: sign in to the portal, open the Flex panel, enter an amount up to your limit and confirm. Funds reach your business bank account by Faster Payments, typically within 90 seconds.

How the minimum monthly payment on a UK revolving credit facility (Flex) is calculated: the greater of 10% of your drawn balance at the cycle date, or £20. Interest is paid first.

Credicorp Flex is a UK revolving credit facility — an agreed limit you can draw from, repay, and redraw. Interest accrues only on the drawn balance, not the whole limit.

Yes — pay off a Flex drawing early at any time, with no fee, no notice period, and no minimum interest charge. Paying early stops the interest meter the same day.

Your UK Flex credit limit is set from an affordability assessment. Reviews happen automatically after six months of clean usage or on request. Here is how to get it raised.

Struggling to repay a UK business loan? Contact us as early as you can. We can look at a payment arrangement, a short extension or a hardship variation to fit your circumstances.

A payment extension on a UK business loan moves a due date forward when a one-off event means you need a little more time. Request one before the payment is due.

A hardship variation on a UK business loan changes the company's repayment terms when a downturn, a lost contract or another event means it genuinely cannot meet the current schedule.

If a health condition, bereavement, caring responsibility or other circumstance means you need extra support from your UK business lender, let us know and we will adjust how we work with you.

A Debt Management Plan (DMP) is a personal arrangement for an individual's debts — not a company's. Your Credicorp loan is to the company, so a director's personal DMP does not cover it.

For business money worries, Business Debtline gives free independent debt advice to UK small businesses. For personal finances, StepChange, Citizens Advice and MoneyHelper are all free.