Missing a scheduled repayment can result in a late-payment charge. The specific amount is always set out in your facility agreement — you will see it before you accept, so there are no surprises.
How missed payments are handled
If a direct debit or scheduled repayment is not collected on the due date, we will contact your company promptly. A single missed payment is treated differently from a pattern of non-payment: we aim to understand the reason first, as short-term cash-flow issues are common in business.
What charges may apply
- A fixed late-payment charge as specified in your agreement
- For Credicorp Flex, interest continues to accrue on any outstanding balance until it is cleared
- For Business Loans, a failed collection may also trigger a returned-payment fee from your bank — this is a bank charge, not a Credicorp charge
What we do not do
We do not immediately escalate to collections or charge compounding penalty rates after a single missed payment. If your company is experiencing difficulty, contacting us early gives us the best chance to agree a short-term arrangement. Our hardship process is available to businesses that communicate proactively.
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: How is the total cost of borrowing shown before I accept?, Are there any hidden charges?.