™
Preparing your
company to borrow.
A little groundwork makes for a faster, cleaner application. This is a short checklist to run through before your company asks for finance — filings, banking, statements, and a clear reason and repayment in mind. And throughout, the company borrows, never you personally.
Short-term business finance is quick to arrange, but it is quicker still when the company is ready. Most of what a lender looks at is information your business already holds — it just needs to be current, tidy and easy to share.
Creditcorp is the growing name for the Credicorp group, and Credicorp Limited is the lender behind it. This page is a guide, not an application — when you are ready, applying happens on the lender's own site, credicorp.co.uk. It pairs with what you need to apply, which lists the specific details the form asks for; this guide is about getting the company itself into good shape first.
The borrower is the company — a UK private limited company (Ltd), LLP or PLC — not the director who signs. No personal guarantee, no charge over a home, no personal credit check on a director. So preparing well is about the company's standing, not your own.
The five-point checklist
Run through these before you apply. None is onerous, and together they make the decision faster and the answer clearer.
- 1. Filings current at Companies House. Confirmation statement and accounts up to date, registered office and people-with-significant-control details correct. A company in good standing on the public register is a stronger applicant.
- 2. A dedicated business bank account. Trading money in and out of the company's own account, not mixed with personal spending — so the lender can see the business clearly.
- 3. Around six months of statements. Enough history to show the shape of the trade. Open Banking can share these securely in a few clicks rather than hunting for PDFs.
- 4. A clear need. Know what the money is for and roughly how much — a stock order, a deposit, a repair — rather than borrowing a vague "just in case" sum.
- 5. A clear source of repayment. Be able to say where the money to repay comes from and when — a customer payment, a sale, a season's takings.
Get your filings current
Your public record is the first thing anyone can see. Tidy it before you apply.
Every UK company has a public file at Companies House, and a lender will look at it. The two filings that matter most are the confirmation statement, which keeps the basic company details accurate, and the annual accounts. If either is overdue, that shows on the register as a flag that something is behind — and both are usually quick to put right.
While you are there, check the small things are correct: the registered office, the company's active status, and the people with significant control. A clean, current record says the company is being run properly, and that counts for more than directors often expect. None of this touches your personal file — the lender is looking at the company.
Banking and statements
The clearest window into a company is its own bank account. Make sure that window is clean.
Lending is to the company, so the lender wants to see the company's own money moving — income arriving, costs going out — through a dedicated business bank account. If trade is mixed in with personal spending, the picture is muddy and the decision is slower. Running everything through one clean business account is the single biggest thing you can do to make an application straightforward.
Have around six months of statements ready. That is enough to show the rhythm of the business across a normal stretch — the regular ins and outs, and how the balance behaves. Open Banking lets you share read-only access securely in a few clicks, so you usually will not need to export anything by hand. If you would like to see how the cash actually moves once a loan is in, the working-capital gap calculator is a useful first look.
A clear need and a clear way to repay
The two questions worth answering for yourself before anyone else asks: what is it for, and how does it get repaid?
Know what it is for
Short-term finance does its best work against a defined cost. Before you apply, put a figure and a purpose on it: stock for a confirmed order, a supplier deposit, an unavoidable repair. A specific need is easier to size correctly, so you borrow what the job actually requires rather than rounding up "to be safe" — which only adds cost.
If you are not yet sure short-term borrowing is the right move at all, is short-term borrowing right for you? is an honest place to test the idea first.
Know how it gets repaid
Every short-term facility needs something to repay it from. Be able to name the source and the rough timing — a customer who pays next month, a sale that completes, a busy season's takings. If you can see the repayment, the borrowing has somewhere solid to land.
You can sketch the cost before committing with the Bridging Loan cost calculator, so the repayment you have in mind comfortably covers what comes due.
Match the need to the right product
Part of being ready is knowing which of the three fits. Credicorp offers a loan, a revolving facility and an instalment plan.
- A one-off, time-boxed cost — a confirmed order's stock or a deposit — usually suits the Business Bridging Loan (£50 to £500, 14 to 84 days).
- An ongoing, uneven need — dipping in and out month to month — usually fits the revolving Credicorp Flex facility better.
- A single supplier bill to spread is what Credicorp Slice is for (£50 to £2,000, over three or four instalments).
If you are not certain, the compare pages set the options side by side, and your industry's page under industries shows how directors in your line tend to use them. The full terms for all three are on the products page.
One thing about who can borrow
Credicorp lends only to bodies corporate — UK limited companies and LLPs. Under Article 60B of the FSMA Regulated Activities Order 2001, lending to a body corporate is not a regulated consumer-credit agreement, so this is business credit rather than consumer credit, and it is not for sole traders or for borrowing in a personal name. That is also why the preparation here is about the company's standing and not your own. The full position is set out on lending and regulation.
Getting-ready questions
The questions directors ask before they apply. For anything specific to your business, the lender's team are at credicorp.co.uk.
How long before applying should I start getting ready?
For most companies an afternoon is enough. The heavy lifting is making sure your Companies House filings are current, your trading runs through a business bank account, and you can lay hands on the last few months of statements. If any of those are out of date or missing, give yourself a week or two to put them right before you apply.
Do I need a separate business bank account?
In practice, yes. Lending is to the company, so the lender wants to see the company's own money moving — income in, costs out — in a dedicated business account rather than mixed in with personal spending. Running everything through one clean business account makes the picture obvious and the decision faster.
How many months of statements should I have ready?
Around six months is the usual expectation, and Open Banking can share them securely in a few clicks rather than you digging out PDFs. Six months is enough to show the shape of the trade — the regular ins and outs, and how the account behaves across a normal stretch.
What if my filings are overdue?
Bring them current first. Overdue confirmation statements or accounts at Companies House are a visible signal that something is behind, and they are usually quick to put right. A company in good standing on the public register is a stronger applicant, so it is worth clearing before you apply.
Do I have to give a personal guarantee to be ready?
No. With Credicorp the agreement is between Credicorp Limited and your company — there is no personal guarantee, no charge over a home and no personal credit check on a director. Preparing well is about the company's own filings, banking and trading record, not about putting your own name on the line.
Where to go next
With the company in good shape, the companion guides cover what happens next: what you need to apply lists the exact details the form asks for, and how funds reach your account walks through signing and the money landing. The whole series sits on the Learn hub, and the deeper group story is on the group site, creditcorpgroup.co.uk.
Ready when you are
Once the company is prepared, applying, drawing down and managing your account all happen on the lender's site, credicorp.co.uk.