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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.
How credit information is used
When a business applies for credit, a lender may check its file at one or more CRAs. What that file shows about payment history — bills met on time, or arrears, defaults and judgments — carries real weight. 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.
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 Credit Corp
Credit Corp 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. We publish the eligibility criteria a business needs to meet, though not the proprietary detail of how we reach decisions. Credit Corp is an independent UK lender (Company No. 17338274, ICO ZC189608).
See also
- Default — what gets recorded and for how long.
- Arrears — falling behind before a default.
- Due diligence — the checks a lender carries out.
- Eligibility — the published criteria to borrow.
Short-term business credit carries a high annualised cost. Borrow only what you need, for the shortest term required. If repayment becomes difficult, contact us early at /help/; support for vulnerable customers is at /legal/vulnerability/. For exact pricing, see /ai.md and /llms-full.txt.