Credicorp

Responsible lending

Responsible lending is the practice of lending only what a borrower can sensibly handle, being transparent about the cost, and dealing fairly and supportively with borrowers who run into difficulty. It treats credit as something to be used well, not pushed. For a lender, it means pairing the cost of credit with genuine protection and support.

Lend appropriately: Assess whether the borrowing makes sense for the business.
Be transparent: Make the cost — interest, fees and the total — clear before signing.
Support in difficulty: Offer forbearance and fair treatment when things go wrong.

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Responsible lending outside the consumer-credit regime

Because lending to a company or LLP sits outside the consumer-credit regime, the consumer-credit conduct rules are not all engaged. A responsible business lender nonetheless applies many of those standards voluntarily — clear pre-contract information, fair assessment, and real support in difficulty — because they are good practice and the right way to lend, not because a rule compels them.

/legal/vulnerability/ How Credicorp, a UK business lender, supports customers going through a difficult time — vulnerability policy and support routes. Forbearance Forbearance is the temporary arrangements a lender offers a borrower in financial difficulty — such as reduced or paused payments — to help them recover… Vulnerable customer A vulnerable customer is someone whose circumstances make them less able to manage a financial relationship or more at risk of harm. Good lenders identify… Total cost cap A total cost cap is a ceiling on the combined interest and fees a borrower can be charged on a facility, expressed as a proportion of the amount borrowed.… 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… 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… AML (anti-money laundering) Anti-money laundering (AML) is the set of laws and checks that require lenders to verify who they are dealing with and to report suspicious activity… 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… CRA (credit reference agency) A credit reference agency holds credit information and shares it with lenders. For UK business lending the main agencies are Experian, Equifax and… Limited company A limited company is a UK business structure registered at Companies House that exists as a separate legal person from its owners, giving its shareholders…

The paired system

Good lending pairs two things at the same quality: the credit itself and the protection around it. Transparency about cost, a cap on the total charge, and genuine forbearance for a business in trouble are not decoration — they are what make short-term credit a sensible tool rather than a trap. A lender that gets one side right and neglects the other is not lending responsibly.

Responsible lending at Credicorp

Credicorp lends to UK limited companies and LLPs and applies responsible-lending standards voluntarily: clear information about cost, a total cost cap that limits the total of interest plus fees to a fixed proportion of the amount borrowed, and genuine support if repayment becomes difficult. Borrow only what you need, for the shortest term required, and contact us early at /help/ if you are struggling; support for vulnerable customers is at /legal/vulnerability/. 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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