2 min read
Why minimums exist
Lenders set minimums because the cost of assessing and administering a loan does not shrink to nothing. For a very small need, the fixed effort makes a formal loan less efficient.
Better tools for small needs
For small, short-lived spending, a business card cleared monthly or a small overdraft can be cheaper and simpler than a loan. Match the tool to the size and life of the need.
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
Is there a smallest business loan?
Minimums vary by lender. For very small sums a loan is often less efficient than a card or overdraft, because the fixed cost of arranging it weighs more heavily.
What suits a small, short-term need?
A business card cleared each month, or a small overdraft or facility. These are simpler and often cheaper than a formal loan for minor spending.
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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.