™
From application
to funds, step by step.
Six stages between deciding to apply and the money arriving in the company account. Each one is short. The process is designed to be fast — most companies go from application to funded in the same working day. And throughout, the company borrows, never you personally.
This guide walks through the application process for a Credicorp short-term business loan — from preparing the company through to the funds clearing into the account. It is a practical overview, not the definitive lender instructions. The live process, requirements and timing sit with the lender at credicorp.co.uk.
The borrower is always the company — a UK private limited company (Ltd), LLP or PLC. The application is submitted by a director on the company's behalf, but the agreement is between Credicorp Limited and the company. No personal guarantee, no charge over a home, no personal credit check on a director. This is not a personal loan, a payday loan or sole-trader finance.
The six stages
In order, from preparing the company to money in the account.
1. Prepare your company
Before you start the application, a few minutes of preparation make the rest faster. Make sure your Companies House filings are current — the confirmation statement and accounts both in good order, registered office correct. Make sure trading runs through a dedicated business bank account in the company's name, not mixed in with personal spending.
The full preparation checklist is in preparing your company to borrow — it covers filings, banking, statements and making sure you have a clear need and a clear source of repayment before you apply.
2. Gather what you need
Five things, and none of them are hard to find:
- Company details — the registered name and number, exactly as they appear at Companies House.
- A UK business bank account in the company's name — the account where funds will be paid and statements come from.
- Around six months of bank statements — or read-only Open Banking access to the same data.
- Director details — the name and details of the director applying, who must have authority to bind the company.
- Photo ID — for the signing director, to confirm identity. This is not a personal credit check.
For more detail on each item and why it is asked for, see what you need to apply.
3. Submit the application
Go to credicorp.co.uk to start the application. This site — creditcorp.co.uk — is the brand front door and does not take applications. The online form at the lender's site is straightforward: it asks for the information you have already gathered. A director with authority to bind the company submits on the company's behalf.
Choose the product that fits the need. The Business Bridging Loan is for a single known cost over a fixed term; Credicorp Flex is a revolving facility for an ongoing need; Credicorp Slice is for a single supplier bill spread over instalments. The loan or facility guide sets out the first choice, and the products page has the full detail.
4. Receive the lending decision
The lender assesses the application using a combination of automated analysis and human review. Both elements run — data about the company is assessed by systems, and a person reviews the full context. The decision is typically communicated the same working day.
The assessment looks at the company's banking picture, its business credit bureau record, its trading history and its Companies House standing. It does not look at the director's personal consumer credit file. The company is the borrower; the decision is about the company.
For a detailed walkthrough of what is weighed, see how a lending decision is made. Under UK GDPR Article 22, if any part of the process is automated, you have the right to request a human review — the lender's process already includes one.
5. Review and sign the agreement
If approved, the lender prepares the loan agreement. It sets out the amount, the daily interest rate or flat fee, any establishment fee, the term, and the repayment schedule. Read it carefully — this is the binding document, and signing is the point at which the deal becomes legally enforceable.
A director signs on the company's behalf. There is no pressure to sign immediately — take the time you need. For a guide to what each part of the agreement means, see what a business loan agreement covers.
6. Receive the funds
Once the agreement is signed, the lender releases the funds to the company's own UK business bank account. The timing depends on when signing happens: where a director signs before 3pm UK time on a working day, same-day funding is the typical outcome. Signing later in the day or over a bank holiday usually moves funding to the next working day.
On a Business Bridging Loan the full approved amount arrives in one transfer. On Credicorp Flex you then draw down against the agreed credit limit as you need the money, and pay interest only on what you have drawn. The mechanics — and what happens after that — are covered in how funds reach your account.
How long does the whole process take?
For a company that is prepared — filings current, bank account in order, statements accessible — the process is typically measured in hours on a single working day. The application form takes minutes. The decision usually follows the same day. Signing the agreement is as fast as the director chooses. Funding, where signed before 3pm, is same-day.
The main things that slow it down: an unexpected gap in Companies House filings, a bank account that is not in the company's name, or statements that need more time to gather. None of those are hard to fix — they just mean preparing first. The preparation guide is the best starting point.
Application questions
The questions directors ask most before they start. The lender's team can help with anything specific at credicorp.co.uk.
How long does a business loan application take?
The application itself takes a few minutes — the company details, director information and bank account number are straightforward to supply. The decision is typically the same working day for most applications. Funding, once the agreement is signed, is also typically same-day where the agreement is signed before 3pm UK time. The total elapsed time from starting the application to funds in the account is often a few hours.
Is the decision automated or does a person review it?
A combination. Data about the company — its banking, credit bureau records and trading picture — is assessed to form an initial view, but every application has a human reviewer who looks at the full context. For more detail on what is weighed, see our guide on how a lending decision is made.
What happens if the application is declined?
You will be told the outcome and, where applicable, the general reasons. A decline at one point is not a permanent bar — the circumstances that led to it may change. If affordability, a credit file issue or a gap in filings was a factor, the articles on improving your business credit score and preparing your company to borrow can help identify what to address before applying again.
Can I apply if my company is new?
Younger companies can apply, though a shorter trading history means less data for the lender to work with. The affordability assessment looks at what is available — statements, Open Banking, the company's public record. The exact requirements sit with the lender at credicorp.co.uk.
Who can apply — is it me personally, or the company?
The borrower is always the company — a UK private limited company (Ltd), LLP or PLC. A director applies on the company's behalf, but the agreement is between Credicorp Limited and the company. There is no personal guarantee, no charge over a home, and no personal credit check on the director. Sole traders cannot apply.
Where to go next
Each stage of the process has its own guide in the Learn section: preparing your company to borrow covers stage one in detail, what you need to apply covers stage two, how a lending decision is made covers stage four, and how funds reach your account covers stages five and six. The full series is on the Learn hub.
Ready when you are
Applying, drawing down and managing your account all happen on the lender's site, credicorp.co.uk.