People sometimes ask how a lender like Creditcorp works behind the scenes. Here's a plain, non-technical overview of how we're set up and what it means for the businesses we fund.
A direct lender
Creditcorp lends its own funding directly to UK limited companies and LLPs. We're not a broker passing you to someone else, and we're not a peer-to-peer marketplace matching you with individual investors. When your company borrows, the agreement is between your business and Creditcorp.
What that means for you
- One relationship: you deal with us throughout
- One agreement: the terms in your offer come from us
- One point of contact: your account and support sit with Creditcorp
How we make money
We're a commercial business. We earn from the lending we provide, on the terms set out in each company's offer. We don't quote a single headline rate because the right terms depend on the business, the product and the circumstances. The numbers that apply to you are always the ones in your own agreement.
Where we sit
Because we lend only to businesses, we operate as an exempt business lender, outside the FCA consumer-credit regime. That means the Financial Ombudsman Service and FSCS protection don't apply to these agreements, and we hold ourselves to our own standards of fair dealing instead.
See also: Is Creditcorp a lender or a broker?, How we protect your account behind the scenes, Glossary: forbearance.