Credicorp offers three products with meaningfully different cost structures. Comparing them requires looking at the total amount payable for the specific funding need you have, rather than comparing headline rates in isolation.
Business Loan — fixed total cost
A Business Loan has a predictable total cost from day one: principal plus fixed interest plus any arrangement fee. Your offer document states the total amount payable. Because the rate and term are fixed, there is no variability — you know exactly what the facility will cost before you draw a penny. It suits companies that want certainty and are borrowing a defined sum for a defined purpose.
Credicorp Flex — cost tracks usage
Flex combines a facility fee (charged on the open limit) with daily interest on drawn balances. Total cost depends on how much you draw and for how long, making it harder to state a single total cost figure upfront. However, for companies that repay quickly or use the facility intermittently, the all-in cost for a given funding episode can be lower than a fixed-term loan. Your offer document includes an illustrative usage scenario to help you calibrate.
Credicorp Slice — flat fee per bill
Slice is the simplest to cost: a flat 6% fee on the bill value, spread across three or four weekly instalments. There is no interest accrual and no facility fee. If you need to smooth a single large supplier payment and can repay within four weeks, Slice gives you the clearest total-cost number of the three products. For recurring or larger funding needs, a Business Loan or Flex will usually be more appropriate.
We lend only to UK limited companies and LLPs, and the loan is to the company with no director personal guarantee. As business finance outside the consumer-credit regime, it is not covered by the Financial Ombudsman Service or FSCS.
See also: Does a longer loan term cost more overall?, How does the Credicorp Flex facility fee work?, How does interest accrue day to day?