™
Working capital for
the fleet that keeps moving.
A private-hire company spends to stay on the road — a gearbox that fails overnight, a plating fee that falls due, fuel on account before the fares come in. Short-term finance bridges those gaps, and on every product the company borrows, never you personally. No personal guarantee.
Creditcorp is the growing name for the Credicorp group, and Credicorp Limited is the lender behind it. For an incorporated taxi or private-hire business, it does one thing: short-term working capital to keep the cars licensed, roadworthy and earning.
Few trades depend on a working asset the way private hire does. A car off the road earns nothing, yet the costs do not pause — a clutch goes on a Friday night, the council plating renewal lands the same week, a clean-air retrofit has a hard deadline, and the fuel card has been running on account while the school-run contract pays 30 days in arrears. This page looks at how a Business Bridging Loan, Credicorp Flex or Credicorp Slice tends to be used to bridge those gaps, so you can picture the fit before you apply.
Throughout, the borrower is the company — a UK private limited company (Ltd), LLP or PLC — not the director who signs, and never an individual driver. That means no personal guarantee, no charge over a home and no personal credit check on a director. These are not personal loans, payday loans or sole-trader finance. When you’re ready, applying happens on the lender’s own site, credicorp.co.uk.
Where a private-hire fleet runs short on cash
It is rarely about the takings on the meter. It is about the timing of money in and money out — and when the asset is a car, that timing is unforgiving.
Repairs land without warning
A gearbox, a clutch, a turbo or a set of tyres can take a vehicle off the road overnight, and the bill arrives all at once. Every day that car sits in the workshop is a day it earns nothing while the lease, the insurance and the driver still need covering. The cost is unplanned, but getting the car back on the rank quickly is the difference between a dent and a hole in the week’s figures.
Licensing, plating and compliance tests
Operator licences, the vehicle licence, the council plating fee and the compliance MOT all fall due on the authority’s calendar, not yours. Miss one and the car cannot legally work. These are known sums, but they cluster — and they arrive whether or not the week has been a strong one.
Fuel on account and clean-air upgrades
Fuel cards run on account, so a busy fortnight is also a fortnight of spend before the fares clear. On top of that, low-emission and clean-air zones increasingly mean retrofitting or replacing older vehicles to keep them licensed — a capital outlay with a hard deadline rather than a choice you can defer.
Account work pays in arrears
School-run contracts, NHS patient journeys and corporate accounts are steady, valuable work — but they pay on 30 or 60-day terms while the company funds the fuel, the wages and the wear every day in between. The more account work you win, the wider that gap can open.
The kinds of funding that fit a private-hire business
Three plain-English shapes of short-term credit. The detail and the live terms sit with the lender — here is how each tends to be used across a fleet.
A Business Bridging Loan — a fixed sum for a known cost
A single lump sum into the company account, repaid over a short, fixed term. It suits a one-off, time-boxed cost you can name: a major repair to get a car back on the road, a round of plating and licence renewals, a clean-air retrofit with a deadline, or a deposit on a replacement vehicle. You know the figure, and you can see the fares that will clear it. More on the Bridging Loan →
Credicorp Flex — a line you draw on through the month
A revolving facility the company can dip into and repay as cash flow turns. For an operator running several vehicles — one in for repair, two waiting on an account-work invoice, fuel on the card all the while — it smooths the peaks without taking out a fresh loan each time. You pay only for what you draw, not the whole limit. More on Credicorp Flex →
Credicorp Slice — spread a single bill
Got a chunky repair invoice or a fleet-cover renewal you would rather not pay in one hit? Slice settles it in full today and lets the company repay over a few weeks for a flat fee. The garage or insurer is paid, the car is back earning, and the cost is fixed before you commit. More on Credicorp Slice →
We don’t publish rates or terms on this page on purpose — they live with the lender so you always see the current figures. Run the numbers on the finance tools, read the basics in the learn library, then check the live product pages on credicorp.co.uk before you apply.
The company borrows — not you
In a trade where the operator often is the business, this is the part worth slowing down on.
Plenty of private-hire operators have already been asked to put their own name on the line — a vehicle lease, a fuel-card account, an insurance contract. A personal guarantee or a charge over the family home turns a business cash-flow gap into a personal risk, and in a sector where one off-road car or one slow-paying account can swing the month, that is a heavy thing to sign.
- No personal guarantee — the company is the borrower, full stop.
- No charge over your home — your house isn’t security for a fleet repair.
- No personal credit check on a director — the lender looks at the business, not your own file.
- Bodies corporate only — UK Ltd, LLP or PLC, never a sole trader, an owner-driver or an individual.
This is exempt business lending under Article 60B of the FSMA Regulated Activities Order 2001, not consumer credit. Because Credicorp lends only to bodies corporate, it sits outside the consumer-credit regime entirely — the full position is set out on our lending and regulation page.
How it can play out — a worked example
A made-up, clearly illustrative business — not a real customer — just to show the shape of the timing problem.
Picture a private-hire operator trading as a UK limited company, running a fleet of six saloons with a mix of street work and a steady school-run contract. On a Friday, the busiest car drops its gearbox; the same week, two vehicles are due their council plating renewal and the annual compliance MOT. The repair, the renewals and the test together come to a sum the float cannot absorb in one go — and the school-run invoice for the month is still three weeks from being paid.
Because the costs are one-off and the payback is clearly the fares and the contract income ahead, a fixed-term Business Bridging Loan to the company fits the repair and the renewals together: a known sum, repaid over the trading weeks that earn it back. The agreement is with the company, so the operator gives no personal guarantee and puts no charge over their home. If a second car then needs an unplanned repair before the account work settles, a Credicorp Flex facility would let them draw again without starting over.
Taxi & private-hire funding — common questions
The questions operators ask most. For anything beyond these, the lender’s team can help.
Can my private-hire company borrow without a personal guarantee from the director?
Yes. Credicorp lends to the company — a UK limited company, LLP or PLC — not to the director who signs. There is no personal guarantee, no charge over a home and no personal credit check on a director. The agreement sits between Credicorp and your business, which matters in a trade where the operator often is the company.
A car is off the road and needs an urgent repair. Can funding cover that?
An off-road vehicle is one of the most common reasons a fleet looks at short-term finance — every day a car is in the workshop is a day it earns nothing. A Business Bridging Loan or Credicorp Slice can cover a repair bill now, so the vehicle is back on the rank quickly, with repayment timed around the fares it goes on to earn. Specifics are set on the lender at credicorp.co.uk.
Can it help with licensing, plating and the annual compliance test?
Yes. Operator and vehicle licences, the council plating fee, the compliance MOT and any retrofit work to meet a clean-air zone are all known, recurring costs that fall due whether or not takings are strong that week. Because the figures are known in advance, a fixed-term Business Bridging Loan often fits them cleanly. The lender confirms what suits your case.
Are you a bank, and is this regulated consumer credit?
No. Credicorp is an exempt business lender, not a bank and not a consumer-credit firm. It lends only to bodies corporate under Article 60B of the FSMA Regulated Activities Order 2001, so this is business credit, not a regulated consumer credit agreement. It is not for sole traders, owner-drivers or anyone borrowing in a personal name. The full position is on our lending-and-regulation page.
Our account-work clients pay us 30 or 60 days in arrears. Does that change the fit?
Not the principle — the borrower is still the company. Operators with school-run contracts, NHS journeys or corporate accounts often carry weeks of fuel, wages and vehicle costs before the invoice settles. A revolving facility such as Credicorp Flex is built for that drip-feed pattern, so you can draw as the costs land and pay down when the account work pays.
Where do I actually apply?
This site is the Creditcorp brand front door and does not take applications. Applying, drawing down and managing the account all happen on the operating lender, credicorp.co.uk. You can compare the products and start an application there.
More general answers live on the Creditcorp FAQ, and the how-it-works overview walks through the whole journey from first look to funds in the bank.
Related sectors
If your work overlaps these trades, their pages may fit the cash-flow shape too.
- Automotive & garages — the workshops behind the repairs, carrying parts and labour before the bill is settled.
- Logistics & transport — covering fuel, vehicles and wages on long payment terms, or getting a vehicle back on the road fast.
- Professional services — another fee-and-contract trade waiting on accounts that pay weeks in arrears.
Or head back to the full industries overview to see every sector. For company, trade-mark and legal detail, the group site is creditcorpgroup.co.uk.
Keep the fleet earning
Whatever the car needs funding for, applying, drawing down and managing your account all happen on the lender’s site, credicorp.co.uk.