™
Same-day decision:
how it actually works.
“Same working day” is not magic — it depends on having complete data and a clean company record. This guide explains what happens after you submit an application, what the assessment checks, and how to maximise the chance of a fast outcome. The company borrows; you do not personally.
What happens after you apply
When an application is submitted at credicorp.co.uk, three data sources feed the assessment simultaneously:
- Company bank statements. The primary affordability signal. Accessed via Open Banking (read-only, instant) or uploaded as PDF. Typically three to six months of the company’s business account, showing income pattern, balance levels, existing committed payments and end-of-period behaviour.
- Business credit bureau data. An automated check of the company’s record at Experian Business, Equifax, Creditsafe or Dun & Bradstreet — covering payment history, any County Court Judgments, outstanding obligations and the company’s credit score.
- Companies House record. Registered company name and number, director details, confirmation statements, filing history. A company with current filings and an accurate record supports a faster assessment.
There is no personal credit check. The assessment is about the company.
What slows a decision down
Most delays come from one of four sources:
Incomplete bank data
Only partial statements, a broken Open Banking connection, or fewer than three months of history. The assessment cannot be completed without enough data.
Application outside working hours
Applications submitted in the evening, at night or at weekends queue for the next working day. Same-day decisions require same-day submission.
A query on the data
An unusual transaction, a discrepancy between the application and the Companies House record, or a gap in the data that needs clarification. Credicorp contacts the company — responding quickly keeps the decision on track.
Recently incorporated company
A company with fewer than three months of trading history may not have enough bank statement data to complete a full assessment. Read can a newly incorporated company borrow? for more.
Five steps for the fastest possible decision
- Apply during working hours. Decisions are processed during the working day. Morning applications have the most processing time available before close of business.
- Use Open Banking. Read-only and instant — no PDF upload delays, no missing pages, no formatting errors. Connect the company’s business bank account when the option appears in the application.
- Ensure three or more months of bank data is available. If using PDF upload, upload complete statements with no gaps. If using Open Banking, ensure the connected account has at least three months of history.
- Keep Companies House current. Overdue confirmation statements or accounts can trigger a query. File them before applying if they are outstanding.
- Watch for queries and respond promptly. If Credicorp contacts you after submission, respond the same day. A 24-hour turnaround on a query adds 24 hours to the decision timeline.
Same-day decision questions
How fast is the decision?
For a complete application submitted on a working day, the decision is typically reached the same working day. "Complete" means the company bank data is available (via Open Banking or PDF upload) and the application covers all required fields. Incomplete applications, queries about the data, or applications submitted outside working hours will take longer.
What data does Credicorp check during a decision?
The three main data sources are: (1) company bank statements — the primary affordability signal, showing income pattern, balance levels, existing commitments and cash-flow behaviour; (2) business credit bureau data — from providers such as Experian Business, Equifax, Creditsafe or Dun & Bradstreet, covering payment history, CCJs and credit utilisation; (3) Companies House — registered company record, confirmation statements, filing history, director details.
Is there a personal credit check?
No. Credicorp assesses the company, not the director personally. There is no search on a director's personal credit file. The lending is to the body corporate; the director has no personal liability and no personal credit check forms part of the assessment.
What slows a decision down?
The most common causes of delay are: (1) incomplete bank data — only partial statements uploaded, or Open Banking connection failing; (2) application submitted outside working hours — decisions run during the working day; (3) the application raising queries — unusual cash-flow patterns, very recent incorporation, or a data discrepancy that requires a clarifying question. If a query arises, Credicorp will typically contact the company to ask.
Does "decision the same day" mean I get the money the same day?
Not always. The decision and the funding are separate steps. Once a decision is made and an offer accepted, funds are typically sent to the company's nominated bank account the same or next working day, depending on when the agreement is signed and the bank's payment processing. Read the application process step by step for the full timeline.
Ready to apply?
Apply on a working day with your bank data connected and the decision typically comes the same day.