Yes, a formal payment plan can be arranged. We are a business lender, not a debt collector, and a structured plan that keeps your company trading and repaying is in everyone's interest. Payment plans are not granted automatically — they require an application and review — but we approach them positively when the difficulty appears temporary or manageable.
How to request a payment plan
Contact our business support team and explain your situation. We will ask for some supporting information: typically recent management accounts or bank statements, an up-to-date debtor schedule if relevant, and a brief explanation of what has caused the difficulty and how long you expect it to last. You do not need a formal insolvency practitioner involved at this stage; many plans are agreed directly between us and the company's director.
What a payment plan looks like in practice
A plan might involve reduced monthly payments for a defined period — say three to six months — after which normal instalments resume and any shortfall is redistributed across the remaining term. As an illustrative, not-a-quote example, a facility with 18 months remaining might move to half-payments for four months, with the deferred amounts spread across the final 14 months. Interest continues to accrue during any reduced-payment period, so the total cost of the facility increases slightly.
Will a payment plan appear on my credit file?
A formally agreed and documented payment plan that we have confirmed in writing is treated differently from unmanaged arrears. We will reflect the agreed arrangement in our credit reporting. Payments made in line with a confirmed plan are not reported as missed payments. This is one of the strongest reasons to contact us and formalise any arrangement before payments actually fall behind.
We lend only to UK limited companies and LLPs, and the loan is to the company with no director personal guarantee required. As business finance outside the consumer-credit regime, it is not covered by the Financial Ombudsman Service or FSCS.
See also: How do I tell Credicorp my business is struggling?, Will a missed payment affect my company credit file?.