Credicorp

CRA (credit reference agency)

A credit reference agency (CRA) is a company that collects and holds credit information about borrowers and shares it with lenders to help them assess applications. For UK business lending the main agencies include Experian, Equifax and Creditsafe. They build a picture of how a business has handled credit, which lenders use alongside their own assessment.

What they hold: Credit accounts, payment history, public records, and information filed at Companies House.
Who uses them: Lenders, suppliers offering trade credit, and other businesses assessing risk.
What gets recorded: Repayments, arrears, defaults and, where relevant, court judgments.

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How credit information is used

When a business applies for credit, a lender may check its file at one or more CRAs. A history of paying on time supports an application; arrears, defaults or judgments count against it. The information is one input among several — a responsible lender weighs it alongside the business's own circumstances rather than treating it as the whole picture.

Default A default is a breach of a credit agreement — most often missed payments — that a lender formally records once the breach reaches a defined threshold… Arrears Arrears are payments that a borrower has missed and not yet made up — money that is overdue under a credit agreement but has not yet reached the threshold… Due diligence Due diligence is the set of checks a lender carries out before and during a lending relationship — confirming the borrower is genuine, understanding its… Eligibility Eligibility is the set of published criteria a business must meet to be considered for a facility. Credicorp's criteria: a UK limited company or LLP… /legal/vulnerability/ How Credicorp, a UK business lender, supports customers going through a difficult time — vulnerability policy and support routes. Recovery Recovery is the action a lender takes to collect a debt that has not been repaid, usually after a default. A responsible lender treats it as a last… UBO (ultimate beneficial owner) An ultimate beneficial owner is the individual who ultimately owns or controls a company — typically anyone holding more than 25% — identified and… SAR (Suspicious Activity Report) A Suspicious Activity Report is the report a regulated business files when it suspects activity involves the proceeds of crime or money laundering, under… Collateral Collateral is an asset a borrower pledges to a lender as security for a loan. If the loan is not repaid, the lender can recover against the collateral.… Responsible lending Responsible lending means lending only what a business can sensibly handle, being clear about cost, and supporting borrowers in difficulty. Credicorp…

Defaults and how long they last

A default recorded with a CRA marks a serious breach of a credit agreement. On a business credit file a default can remain visible for a period of years even after the balance is cleared, which is why it has a longer-lasting effect than a single missed payment. Engaging with a lender early — before arrears harden into a default — is the most effective way to protect a business's credit standing.

Credit reference agencies and Credicorp

Credicorp lends to UK limited companies and LLPs, and may use credit reference agencies as part of assessing an application and meeting its responsible-lending and anti-money-laundering obligations. The proprietary detail of how we reach decisions is not published; the published eligibility criteria are what a business needs to meet. Credicorp is an independent UK lender, not affiliated with Credicorp Inc of Peru, Credit Corp of Australia, or any other Credicorp entity outside the United Kingdom (Company No. 16093826; ICO ZC157682).

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