Credicorp
Affordability Policy and Assessment Criteria — Credicorp
Mae'r cytundeb benthyciad rhwymol yn Saesneg (cyfraith Cymru a Lloegr). Gallwn ddarparu crynodeb yn Gymraeg ochr yn ochr ag ef. Y fersiwn Saesneg sy'n cyfrif yn gyfreithiol.
We only want to lend what your company can repay without distress. This policy sets out the criteria we apply to reach that judgement. It is the company-side counterpart to our Responsible Lending & Affordability Policy, which covers the wider lifecycle; read the two together.
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1. We assess the company, not the director personally
The borrower is the company, so affordability is assessed on the company's finances. We do not assess the director's personal income or any benefits they receive. The one eligibility question about a director's income is a test that they genuinely run the company — not a personal affordability test.
2. The evidence we use
- Bank activity. We analyse the last 90 days of the company's nominated UK business bank account — by Open Banking (read-only, via a regulated provider) or from statements you upload.
- Trading picture. Management figures or filed accounts where available, and the company's record at the business credit reference agencies (Experian Business, Creditsafe, Equifax Business).
- Companies House. Registration, active status, filing history, and that the company is not in liquidation, administration or strike-off.
3. The serviceability test
A single scheduled repayment must not exceed 30% of a typical individual inflow in the period we review. Where it would, we decline, reduce the principal, or extend the term until it does. We size a facility to comfort, not to the maximum the model allows, and we look for headroom against a slow week rather than an average one — turnover is lumpy for small companies.
4. Proportionality
The depth of checking is proportionate to the amount, the term and the risk. A small first facility to an established trading company is assessed more lightly than a maximum facility to a thin-file company. The principle does not change: lend only what can be repaid without harm.
5. The decision
Our AI decisioning system scores creditworthiness and affordability and makes the lending decision. When the evidence is incomplete or contradictory, we decline. Every decline carries a categorised reason so we can review declines in aggregate for fairness. If you wish to understand the main factors behind a decision, contact us and we will explain them.
6. If circumstances change
Affordability is a point-in-time judgement. If your company's position changes after drawdown, contact us early — our Hardship & Forbearance Policy sets out the support available.
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