# Preparing your accounts for a business loan application

What financial information you need to prepare before applying for a business loan — what lenders are looking for, what Open Banking shows, and how to put the company's best foot forward.

**Site:** [creditcorp.co.uk/learn/accounts-prep-for-loan-application/](https://creditcorp.co.uk/learn/accounts-prep-for-loan-application/)

Creditcorp is the growing name for the Credicorp group. Credicorp Limited is the lender behind it — short-term working capital for incorporated UK businesses. No personal guarantee on any product. This page is a guide; applications go to [credicorp.co.uk](https://credicorp.co.uk/).

## Contents

- What a lender reads when you apply
- How to prepare
- Application preparation questions
- Related guides
- Prepared. Apply when the picture is strongest.

## Step-by-step guide

**Step 1: Ensure the company has a dedicated business bank account in active use**

Credicorp's Open Banking read covers 3 months of business banking. If the company is currently banking through a personal account or a mixed-use account, the picture is unclear and the read may not show adequate trading cash flow. A dedicated business bank account — used for all business receipts and payments — gives the clearest picture. If this is not yet in place, switch and trade through it for 3 months before applying.

**Step 2: Check that Companies House filings are current**

Log in to Companies House WebFiling and verify: that the company's confirmation statement is up to date, that any overdue accounts have been filed, and that the registered office address is current. Gaps or late filings appear in the business credit report and can suppress the score. Fixing these before applying — even if it takes a few weeks — improves the starting position.

**Step 3: Understand what the Open Banking read will show**

When you apply via Credicorp's website, you will be asked to connect the company's main business bank account via Open Banking. The connection is read-only — Credicorp cannot make payments or move money. It reads up to 3 months of transaction history: receipts, payments, balance movements. You can see this data yourself by downloading a bank statement and reading it as a lender would: look for consistent monthly receipts, regular supplier and payroll payments, and no extended overdraft periods.

**Step 4: Apply at credicorp.co.uk when the picture is strongest**

The assessment is run at the time of application. Applying when the company has 3 months of strong, consistent business banking — after a strong trading quarter, after clearing an outstanding debt, when the bank account is not under pressure — gives the strongest result. There is rarely a good reason to apply under temporary cash pressure if a stronger position is 4-6 weeks away. Apply at credicorp.co.uk.

## Frequently asked questions

**Do I need to prepare accounts documents before applying to Credicorp?**

Credicorp uses Open Banking rather than manual document submission — the company's bank account is read directly, covering the last three months of transactions. You do not need to prepare and submit bank statements, management accounts, or profit-and-loss reports as separate documents. The application process is designed to be fast: Open Banking provides the financial picture in real time rather than via a document submission and review cycle.

**What does a lender actually look for in the financial information?**

The core question is: can this company afford to borrow this amount and repay it by the agreed date? Lenders look at: (1) Cash flow — how much genuine revenue flows into the business account each month and how consistently; (2) Existing obligations — what the company already owes, including loans, HP agreements, or credit card balances; (3) Banking behaviour — how the account is managed, whether there are consistent payroll runs and supplier payments, and whether the account goes into extended overdraft; (4) Trading history — how long the company has been generating revenue at this level.

**Does it help to have filed accounts at Companies House?**

Yes. A company that has filed accounts on time — even abridged accounts for a small company — demonstrates consistent trading and good administrative discipline. Late filings or gaps in the Companies House record can suppress the business credit score, which is a factor in the assessment. A company that has been trading for a year or more and has clean filing history is in a stronger position than one with gaps.

**Should I move money into the business account before applying to improve the picture?**

No. Lenders are looking at consistent, genuine trading revenue — not one-off injections. Moving a large sum into the business account just before an Open Banking read will not create the picture of consistent trading that the assessment is looking for. The bank statement analysis covers patterns over time, not peak balances. What helps is genuine consistent trading: invoices raised and paid, payroll run, suppliers paid — on a recurring pattern over months.

**What if the company's accounts are in a loss-making period?**

A loss-making period in the filed accounts is a factor, but the assessment is primarily driven by current cash flow — what is happening in the business bank account right now, over the last 3 months. A company that had a loss year in 2024 but has since recovered and is generating strong consistent monthly receipts may still pass the affordability assessment. The current trading picture, as shown through Open Banking, matters more than historic filed accounts.

## About Creditcorp / Credicorp

Credicorp Limited is a UK short-term business lender. Products: Business Bridging Loan (14–84 days, 0.25%/day), Credicorp Flex (revolving credit, 0.25%/day on drawn balance), Credicorp Slice (invoice-backed, flat fee). Incorporated UK companies and LLPs only. No personal guarantee. No debenture. Same-day decisions. Total charges capped at 100% of principal.

- [Apply or get a quote](https://credicorp.co.uk/)
- [Products overview](https://credicorp.co.uk/products/)
- [Eligibility](https://credicorp.co.uk/eligibility/)
- [All learn guides](https://creditcorp.co.uk/learn/)