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The company keeps the debt
The loan is the company’s obligation, so it continues regardless of who is on the board. Succession planning matters, but the debt does not die with the director. Contrast a personal guarantee, which is a personal promise.
Where the estate is exposed
If the late director gave a personal guarantee, the lender may claim against their estate. A no-personal-guarantee loan removes that complication for the family entirely.
What it means for you
Credicorp lends to your company, not to you personally, and takes no personal guarantee. Because Credicorp takes no personal guarantee, a director’s estate is never pursued for the company loan. See business loans or apply online.
Frequently asked questions
Does a company loan end if a director dies?
No. The company is the borrower, so the loan continues. Only a personal guarantee could reach the deceased’s estate.
Can a lender claim against the estate?
Only if the director gave a personal guarantee. Without one, the estate is not liable for the company debt.
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Am I personally liable for a company loan?
Generally no — limited liability means the company, not you personally, owes the debt, unless you have signed…
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What happens to my application if a director changes mid-process?
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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.