Business loan FAQs UK

How is Credicorp Limited connected to CM Beyer Limited? 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. Why does Credicorp have group companies in the UK and Australia? 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. What is creditcorp.co.uk and how is it related to credicorp.co.uk? 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.

When is my business loan payment due in the UK? 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. How do I check whether a payment has reached you? 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. Can I overpay my business loan in the UK? 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. What happens if my Direct Debit fails on a UK business 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 can I make a payment on my UK business loan? 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 does a loan payment take to clear in the UK? 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.

What does the SECCI / Key Information Sheet cover for a UK business loan? 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. 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. 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. 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. What is the FCA reference and why does it matter? 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 gen How do I get a copy of my data from a UK lender? 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. 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 Unable to pay a UK business loan — what happens next? 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. Where is your mobile app? 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. 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. What is Open Banking and is it safe for UK business lending? 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. 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.

How do I get a settlement figure for my UK business loan? 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. How do I update my contact details? 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. Can I get a copy of my Business Loan Agreement? 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. How do I request a statement of account? 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. How do I close my Credicorp account? 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. How do I update my address, name or contact details? 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.

How do I get a settlement letter or proof of loan closure? 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 does a UK lender keep your records? 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. Accessible loan documents UK: large print and alternative formats Yes. Accessible loan documents UK — we can provide letters, statements or forms in larger print, plain language, or an accessible electronic format on request.

Your business credit score UK: how it works and how to improve it 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. What is a \"body corporate\" in UK lending, and why it matters A body corporate is a company or LLP — a separate legal person. Here is why lending to one sits outside FCA consumer-credit rules. What counts as a 'wholly or predominantly business' purpose for a UK loan? 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: which is the honest comparison for short-term loans? 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: what's the difference? 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: what's the difference in the UK? 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. Business credit reference agencies UK explained 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: what's the difference? 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. What is a personal guarantee in the UK — and why we don't take one 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, card, invoice finance, grants Alternatives to short-term lending in the UK: overdraft, credit card, invoice finance and grants compared honestly. Know the options before you borrow. What is a business loan in the UK? 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. No early repayment fee? How the early-settlement charge works on UK business loans 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. How to read a Key Information Sheet for a UK business loan 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 — and why a company loan falls outside both 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. When NOT to take a short-term business loan in the UK 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.