2 min read
The classic errors
Comparing on the rate rather than total repayable; borrowing the maximum offered instead of what you comfortably afford; overlooking fees and early-settlement charges; and signing a personal guarantee without appreciating the risk.
How to avoid them
Compare on total cost with all fees in, size the loan to your affordability with a buffer, read the terms, and check for a personal guarantee. See how to compare offers.
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
What is the single biggest borrowing mistake?
Comparing on the headline rate instead of the total repayable. It leads businesses to pick a loan that looks cheap but costs more once fees and structure are counted.
Should I borrow the maximum I'm offered?
No. Borrowing your full ceiling leaves no room for a bad month. Size the loan to what your cash flow covers comfortably, with headroom for a setback.
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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.