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Definition
An exempt agreement is credit that the Consumer Credit Act 1974 and the FCA’s CONC rules do not regulate. Lending to a limited company, and most business lending above certain thresholds, is exempt. That means the representative APR and cancellation protections designed for consumers do not automatically apply.
In plain terms
It is why a business loan can be quoted without a consumer-style APR. The protections are different — you rely on the contract and commercial-law rights instead.
Why it matters for your company
Because business lending is exempt, always ask for the total amount payable and an APR so you can still compare fairly. See how representative APR is set.
Credicorp lends to your company, not to you personally, and takes no personal guarantee. See indicative terms on business loans, or apply online in minutes.
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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.