2 min read
The groundwork
Bring your bookkeeping up to date so recent management accounts are available. Check your business credit score and correct any errors with the credit-file check. Prepare a short cash-flow forecast showing how the loan is used and repaid, and gather the documents on the application checklist.
What speeds it up
Most modern lenders verify turnover through open banking — a read-only, revocable connection that replaces bundles of statements and cuts days off the decision. Being ready to connect it, with a clear purpose and an affordable amount in mind, is the single biggest thing you can do to speed approval. When you're ready, start an application.
What it means for you
Credicorp lends to your company, not to you personally, and takes no personal guarantee. See business loans or apply online.
Frequently asked questions
How far back do lenders look?
Typically the last 3–12 months of trading through bank data, plus your filed accounts if you have them. Recent, consistent trading matters more than a long history — new companies are not automatically excluded.
Do I need an accountant to apply?
No, but current books and a simple forecast help. An accountant can make the picture cleaner and spot issues, though many directors apply successfully with tidy bookkeeping and open banking alone.
Related reading
How do I improve my chances of a business loan?
Clean your credit file, show consistent bank turnover, borrow a sensible amount for a clear purpose, and…
Read →
What does open banking mean for my loan application?
Open banking lets you securely share your business bank data with a lender, so it can verify your cash flow…
Read →
What Are Management Accounts, and Why Do They Matter to Directors and Lenders?
Management accounts are periodic internal financial statements — typically monthly or quarterly — that give…
Read →
A supplier offered a discount for paying early — should I borrow to take it?
An early-payment discount is often worth borrowing for, because the annualised saving usually beats…
Read →Funding for UK limited companies
Credicorp lends to your company, not to you personally — short-term working capital with no personal guarantee. See what your business could access.