One of the questions we are asked most is whether a company's past financial difficulty rules it out. For many lenders, the answer is a flat yes. For us, it is not that simple.
We do not refuse a business solely on past events. If the company fell behind at some stage — perhaps during a difficult trading period that has since passed — we will not treat that as the whole story.
How we assess affordability
Instead, we look at how the company is trading today. That means considering its current income and essential, regular outgoings, so that any loan we offer is one we are confident the business can manage. Affordability works both ways: it protects the company from borrowing more than is sensible, and it means a realistic decision rather than an automatic rejection.
This is not the same as saying yes to everyone. Responsible lending means lending only where it is genuinely affordable. But it does mean a fairer hearing, and a decision based on the bigger picture.
You can read more about our products on the What We Offer page, or see How It Works for the steps involved.
Common questions about past credit issues and borrowing
Can a UK limited company with past missed payments still get a business loan?Possibly, yes. At Credicorp we do not make a blanket decision based on past events alone. We look at how the company is trading now — its current income, its recent bank statements, and whether the requested borrowing is affordable given the business's actual cashflow today. A company that had a difficult period two years ago but has since recovered may be eligible.
What if my company has a low business credit score?A low credit score is one data point, not the whole picture. We use multiple signals including Open Banking data and recent bank statements to assess a business. See our article on signals beyond the credit score for a full explanation.