When your loan is approved, we produce a full repayment schedule that shows every payment date and amount before you sign. Nothing changes after drawdown unless you choose to repay early.
Fixed instalments
Each payment is identical in size throughout the term. Whether you choose weekly or monthly repayments, the instalment amount stays constant. This makes budgeting simple: your finance team knows exactly what leaves the account and when, with no recalculations required.
How payment is collected
Repayments are collected by direct debit from the business bank account you nominate at application. Ensure the account has sufficient funds on each due date to avoid a failed collection. If you anticipate a problem on a specific date, contact us in advance — we can discuss options before a missed payment is recorded.
Final payment and end of term
The final instalment clears the loan in full. There is no residual balance, no balloon payment, and no automatic renewal. Once the term ends, the facility is closed and there are no further obligations on the company.
If you want to repay ahead of schedule, you can do so at any time. See our article on early repayment for details of how that works and whether any charges apply.
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: Can I repay my Credicorp business loan early?, What happens at the end of the loan term?.