Open Banking is a UK-regulated framework that lets you authorise a regulated firm to read your bank statements (read-only) or initiate a payment on your behalf. We use it for read-only statement access during the application.
What happens if I cannot connect my bank?
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.
How quickly will I get a decision?
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.
Can I have more than one offer?
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. There is no obligation to accept any of them.
What does the Key Information Sheet (KIS) cover?
The Key Information Sheet (KIS) is the plain-English summary of your loan that we give you before you sign. It sets out the rate, the fees, the total amount payable and the key terms on one page so the whole deal is clear at a glance.
I am a returning customer — do I need to do the whole application again?
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.
Can a co-director apply with me?
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.
What does Credicorp do if I become unable to pay?
We treat hardship as a conversation, not a default. Tell us early and we can pause, restructure or refinance the loan, often with no fees. The cheapest outcome for everyone is to talk before a payment is missed.
How do I get a copy of my data?
You can ask for a copy of the personal information we hold about you at any time, free of charge. It is called a Subject Access Request. Use the portal, the General Support form, or email our privacy team.
Can I refer a friend?
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.