Business lending and Article 60B RAO

A plain-English summary of the regulatory basis used by the operating lender.

Credicorp Limited lends to incorporated UK bodies corporate. The borrower is the company, not the director personally.

Article 60B RAO defines a regulated credit agreement by reference to individual borrowers, small partnerships and unincorporated associations. A company borrower is outside that definition.

That is why the public wording says the lending sits outside Article 60B RAO 2001. It is not described as a Consumer Credit Act exemption.