Can I have two business loans at the same time?

2 min read

AllowedNo cap on number of facilities

AffordabilityCombined repayments are the test

To the companyEach sits with the business, no personal guarantee

What a lender looks at

When you already hold borrowing and apply for more, the question is not "how many loans do you have" but "can the company service them all". A lender reviews current commitments, turnover and the pattern of money in and out, then judges whether another repayment fits without straining the business. You can sanity-check this yourself before applying with the business loan figures and an affordability view of your monthly numbers.

Why a loan and a facility often pair well

A term loan gives a fixed sum for a specific cost — equipment, a fit-out, a one-off project — repaid over a set period. A revolving facility covers the moving parts: covering payroll before an invoice lands, or buying stock ahead of a busy run. Holding both is not doubling up; it is matching each need to the right shape of finance.

The practical limit

The ceiling is set by affordability, not by a count. If existing repayments already stretch the company, adding more raises the risk of a missed payment, which helps no one. Keeping borrowing in step with genuine, repayable need is what keeps the company's finances healthy over time. Credicorp lends to the company, not to you personally, and takes no personal guarantee.

Frequently asked questions

Will a second application hurt the first loan?

No. Taking further finance does not change the terms of borrowing you already hold. Each facility stands on its own agreement; the only real consideration is whether the company can afford them together.

Can the two loans be with different lenders?

Yes. A company can hold facilities from more than one provider at once. Each lender will consider your existing commitments as part of assessing affordability.

Is it better to top up an existing loan or take a new one?

It depends on the purpose. A top-up can suit more of the same need; a separate facility of a different shape — for example a revolving limit alongside a term loan — often fits better when the need is genuinely different.