2 min read
The method
Put the offers side by side. First, the true cost: total repayable in pounds including every fee, using the loan comparison calculator. Then the terms: is a personal guarantee or security required? Any early-repayment charge? How flexible is repayment? Don't compare on the monthly payment, which hides term length.
The tiebreaker
When cost and terms are close, weigh conduct: which lender is more transparent, and which treats customers in difficulty better? A slightly dearer loan with no personal guarantee, no early-repayment penalty and good hardship support can be the better deal. Ask both lenders the same key questions and compare the answers.
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
Should I just pick the lowest rate?
No. The lowest rate can carry high fees, a personal guarantee or a longer term that raises the total cost. Compare total repayable and the full terms, then weigh how each lender treats customers. Rate alone is misleading.
Why not compare on the monthly payment?
Because a lower monthly payment often just means a longer term and more total interest. Two loans with the same monthly figure can differ by thousands overall. Always compare total repayable, not the monthly instalment.
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