Credicorp Flex

Credicorp Flex is a revolving facility, so it is normal to have more than one drawing live at the same time. Each drawing reduces your available headroom, and you can keep drawing until you reach your approved limit.

How it works in practice

• Your available headroom is your approved limit minus what you have already drawn and not yet repaid.
• Each new drawing simply uses some of that remaining headroom.
• As you repay, headroom is restored and becomes available to draw again.

Keeping track

When several drawings are running, it helps to know what each one was for and how it is being repaid. Your account view shows your current balance, your remaining headroom, and the charges applying to what you have drawn at the rate set in your offer. Reviewing this before each new drawing stops you from over-committing.

A sensible habit

Just because headroom is available does not mean it should all be used. Treat your limit as a ceiling, not a target. Draw against clear business needs you can repay from trading, and clear older drawings where you can before adding new ones. That keeps the facility flexible for genuine pressure points rather than fully committed all the time.

See also: How repaying Flex frees up your limit again, Can I apply for Flex and Slice at the same time? and How much of my Flex limit is still available?.

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Yes, you can request an increase to your Credicorp Flex limit at any point during the life of your facility. Credicorp will carry out a fresh review of your company's financial position before agreeing to any increase, and the outcome is not guaranteed.

What triggers a review

A limit increase request prompts Credicorp to look at your company's most recent turnover, trading history, current drawn balance and repayment behaviour on the existing facility. If your business has grown since the original facility was set up, a stronger financial profile may support a higher limit.

How to apply for an increase

Log in to your company account and navigate to your Flex facility settings. There you will find an option to request a limit review. You may be asked to provide updated accounts, bank statements or management information depending on how recently these were last supplied. Our team will aim to give you a decision promptly.

If an increase is not approved

A declined increase request does not affect your existing limit — your current facility continues unchanged. You can request a further review at a later date, particularly if your company's financial position has improved in the meantime. Credicorp will provide a reason for the decision where possible.

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 does Credicorp Flex work?, How do I close my Credicorp Flex facility?.

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Many businesses open a Credicorp Flex facility partly as a safety net: somewhere to turn quickly if a cash gap appears, even if they hope not to use it. Leaving it open and undrawn is a perfectly reasonable way to use the product.

What an unused facility means

• You have an approved limit available to draw against when you choose.
• Charges generally relate to what you actually draw, so an undrawn balance behaves differently from a drawn one.
• You can draw at short notice without reapplying, which is the main benefit of keeping it open.

Keeping it ready

To make sure the facility is there when you need it, keep your account details current, keep your contact information up to date, and respond to any periodic checks we carry out. A facility that is reviewed and in good standing is one you can rely on in a pinch.

Check the specifics in your offer

Exactly how charges apply to a drawn versus undrawn balance is set out in your agreement, so check the terms shown in your offer rather than assuming. If anything is unclear, ask our support team before you rely on it. As business lending, Flex sits outside the consumer-credit regime, so FOS and FSCS cover do not apply.

See also: How quickly can I access Flex funds after a drawing?, Is Flex secured, and do directors need to give a guarantee? and Can I manage more than one facility from a single account?.

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Yes — you can pay off any Credicorp Flex drawing early. There is no fee, no notice period, and no minimum interest charge. Paying early simply stops the interest meter the same day.

How to do it

1. Sign in. Go to the customer portal
2. Open the Flex panel. Find the drawing you want to settle
3. Select Settle in full now. The portal shows the exact £ figure (drawn balance + any interest accrued to today)
4. Make the payment. Pay by debit card, Faster Payments, or schedule the settlement to your next Direct Debit collection

What happens to your facility

Once a drawing is fully settled, that part of your credit limit is freed and available to draw again. The facility itself stays open with no fee or maintenance charge. An unused Flex line with a clean repayment history is exactly the kind of customer we periodically offer a limit increase to — see setting and raising your Flex limit.

Partial early repayment

You can also pay any amount above the minimum without settling the whole drawing. The extra amount goes against the principal, which reduces the interest in the next cycle. There's no fee for partial overpayment either.

See also: Can I have several Flex drawings running at the same time?, Can I repay Credicorp Slice early?, How is interest charged on a Flex facility?.

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Your borrowing needs change as your business changes, and Credicorp Flex is meant to flex with them. If you no longer need as much headroom, or you want to wind the facility down altogether, you can ask us to adjust or close it.

Lowering your limit

If you want a smaller limit, perhaps because your cash flow has stabilised, contact our support team. A lower limit can be a sensible way to keep a modest safety net without leaving more headroom available than the business needs.

Closing the facility

• Clear any outstanding drawings and charges so the balance is fully settled.
• Confirm with our team that you want the facility closed.
• We will let you know once it is closed and nothing further is owed.

Things to weigh first

Closing removes the option to draw again without reapplying later, so consider whether a reduced limit might serve you better than full closure. Check the terms in your offer for anything that applies on closure. Because Flex is business lending outside the consumer-credit regime, the usual consumer protections do not apply, so speak to us directly if any part of closing the facility is unclear.

See also: If I clear a Flex drawing, does the facility close?, Can I change my Slice instalment dates? and Can my company settle its arrears with a lump sum?.

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Yes. One of the core features of Credicorp Flex is that repayments restore your available limit, making the capacity available to draw again. There is no cap on how many times you can cycle through the facility during its term.

How repayments restore capacity

Your available limit at any point is your total approved limit minus your current outstanding balance. When you make a repayment — whether a partial or full repayment — that amount is added back to your available limit. For example, if your limit is £40,000 and you have drawn £25,000, you have £15,000 available. A £10,000 repayment pushes that to £25,000 available.

Partial versus full repayments

You can make partial repayments at any time — you are not required to clear the full balance before drawing again. This makes Flex particularly useful for businesses that want to maintain a standing drawn balance while topping up or paying down as cash flow allows.

Is there a cooling-off period between draws?

There is no mandatory waiting period between a repayment and a subsequent drawdown. Once a repayment is processed and your available limit is updated, you can request another drawdown. In practice, processing time for the repayment to clear determines how quickly the capacity is restored — your account dashboard will show your current available limit in real time.

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 do I draw funds from my Flex limit?, How is interest charged on Credicorp Flex?.

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Credicorp offers two products: Flex, a revolving facility you draw and repay flexibly, and Slice, which is structured differently. Some businesses find that a single product covers everything; others have needs that suit each product in turn.

When running both can make sense

• You use Flex for short-term, fluctuating cash gaps, and Slice for a more defined, structured need.
• You want to keep your revolving headroom free for genuine emergencies rather than tying it up in a larger, one-off cost.
• Your business has clearly separate funding requirements that each suit a different shape of borrowing.

The caution

Running two facilities means two sets of obligations. Only take on what the business can comfortably repay across both, and avoid using one to service the other. If a single product would meet your needs more simply, that is usually the better route.

How to decide

Look at each need separately: is it short-term and variable, or defined and structured? Match each to the product that fits, and compare the rate and terms shown in each offer. If you are weighing the two, our support team can talk through which combination, if any, suits how your company trades. Both are business lending outside the consumer-credit regime, so FOS and FSCS do not apply.

See also: How to read your Flex statement, How is Flex different from a business overdraft?, Why do statements for Flex and Slice look a little different?.

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Credicorp Flex is a flexible tool, and like any tool it can be used well or badly. The businesses that get the most from it tend to avoid a handful of recurring mistakes.

The pitfalls

• Treating the limit as a target. Available headroom is a ceiling, not money you should aim to use in full.
• Repaying by redrawing. If you clear one drawing only by making another, the balance never truly falls and charges keep accruing.
• Drawing without a repayment plan. Every drawing should have a clear source of repayment from trading.
• Funding the wrong thing. Long-term capital needs usually suit a fixed-term facility better than a revolving one.
• Ignoring the statement. Not reviewing your balance, headroom, and charges means small problems grow unnoticed.

Better habits

Tie each drawing to a specific need and a specific repayment, keep some headroom in reserve, and review your account regularly against the rate and terms in your offer. If you notice the balance never really clearing, treat that as a signal to talk to us, not to draw again.

Ask early

If anything about how the facility is behaving puzzles you, contact our support team before it becomes a problem. As business lending, Flex sits outside the consumer-credit regime, so early conversation with us matters.

See also: How repaying Flex frees up your limit again, How Flex charges show up, per drawing, How is interest charged on a Flex facility?.

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Both Credicorp Flex and the Credicorp Business Loan provide access to business finance, but they suit different situations. The right choice depends on whether your funding need is a one-off, fixed amount or a recurring, variable requirement.

When a Business Loan fits better

A Business Loan delivers a fixed sum in a single payment and is repaid over a fixed short term. It suits companies that have a specific, known cost to meet — a piece of equipment, a project outlay, or a planned expansion — and want certainty about repayment amounts and end date. The cost of the loan is fixed from the start, making budgeting straightforward.

When Flex fits better

Credicorp Flex is designed for companies whose cash flow is variable or unpredictable — for example, businesses with long invoice payment cycles, seasonal stock purchases, or clients who pay in batches. Because you draw and repay as needed, you only pay interest on what you have out, and the facility remains available for future drawdowns without reapplying. It is also well-suited to companies that want a financial backstop for unexpected needs.

Can I hold both?

Holding a Flex facility alongside a Business Loan is possible — the products serve different roles. A company might take a Business Loan for a planned capital outlay and maintain a Flex facility for day-to-day working capital. Eligibility for each is assessed separately.

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 does Credicorp Flex work?, How is interest charged on Credicorp Flex?.

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Credicorp Flex is lending to your company, so it is the company's circumstances we look at, and it is the company's borrowing position that the facility relates to. It is not personal credit and it does not involve a personal guarantee from any director.

What we assess

• The company's trading position and how it manages its obligations.
• Information relevant to setting an appropriate limit and terms.
• How the facility is used and repaid over time once it is live.

Why managing it well matters

Like any business borrowing, how a company handles a facility can form part of the wider picture lenders and partners see of that company over time. Repaying drawings on schedule and keeping within your limit reflects well; missed or late repayments do not. Treating Flex as a managed business tool, rather than an open tap, supports a healthy company profile.

The protection point

Because this is business lending to a limited company or LLP, it sits outside the FCA consumer-credit regime. The Financial Ombudsman Service and the Financial Services Compensation Scheme do not apply. If you have questions about how your facility is reflected anywhere, contact our support team and we will explain what we do and do not share.

See also: How does Credicorp Flex work?, Is Flex a good fit for a seasonal business?, Who in my company can manage the Flex facility?.

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Both products are short-term business borrowing with the same transparent, capped pricing — but they are shaped for different needs. The right choice usually comes down to one question: do you have one known cost, or an ongoing need you will dip into more than once?

The quick comparison

Credicorp Flex, by contrast, is a revolving facility: a pre-agreed limit your company can draw against when it needs to and pay down as cash comes in. You are only charged for what you actually draw, and the limit stays available as you clear drawings. See how Credicorp Flex works.

What they share

Both assess the company, not you personally; neither takes a personal guarantee; both show every figure before you commit; and both keep the 100% total-cost cap (on a per-drawing basis for Flex). For a specific one-off bill paid to a supplier, also consider Credicorp Slice.

Because this is lending to a company for business purposes, it sits outside FCA consumer-credit regulation under Article 60B FSMA RAO 2001 and is not covered by the Financial Ombudsman Service or the FSCS.

See also: Can my company use Flex and Slice together?, Can I leave my Flex facility open but unused?, Can I have several Flex drawings running at the same time?.

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To close your Credicorp Flex facility, you first need to repay any outstanding drawn balance in full. Once the balance reaches zero, contact the Credicorp client team — by secure message through your account or by phone — to confirm you wish to terminate the facility. We will process the closure and confirm it in writing.

Repaying the outstanding balance

You can make a full repayment at any time. If you are unsure of the exact settlement figure — including any accrued interest not yet collected — contact us or check your account dashboard for the current payoff amount. Paying the exact figure avoids a residual balance that could delay closure.

What happens after closure

Once the facility is closed, the credit limit is removed from your account and no further drawdowns are possible. Any facility fees that apply up to the closure date will be collected as part of the final settlement. You will receive a written confirmation that the facility has been terminated and the balance is cleared.

Can I reopen a closed facility?

A closed Flex facility cannot be reinstated — you would need to submit a new application if you wanted a Flex facility in the future. If you think you may need the facility again, consider reducing the limit rather than closing it entirely, provided your agreement permits this.

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: What happens if I do not use my Flex facility?, Can I repay and redraw my Flex balance?.

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Drawing down from your Credicorp Flex facility is designed to be a 30-second action. Here is what happens:

1. Sign in. Go to the customer portal and sign in to your account
2. Open the Flex panel. It shows your agreed limit, current drawn balance, and remaining headroom
3. Enter the amount. Type any £ value up to your remaining headroom — the drawing tool shows the projected interest cost over a few illustrative repayment timescales so you can see what the drawing will cost
4. Confirm. We run a quick eligibility check (limit still in date, no holds on the account) and issue the drawing
5. Receive funds. Funds arrive in your nominated business bank account by Faster Payments, typically within 90 seconds — occasionally up to two hours during a bank's processing window

You get a confirmation email plus a portal entry showing the drawing date, amount and projected minimum payment date. Interest starts accruing the day after the drawing lands.

For the mechanics of how Flex works day-to-day — minimum repayments, the per-drawing cost cap, and early repayment — see how Credicorp Flex works and whether clearing a drawing closes the facility. Comparing Flex to a one-off loan? See Flex vs a one-off Business Loan. If you need help with a specific drawing, get in touch.

See also: Can my company use Flex and Slice together?, Can I leave my Flex facility open but unused?, Can I have several Flex drawings running at the same time?.

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Drawing from your Credicorp Flex facility is straightforward: log in to your company account, enter the amount you need (up to your available limit), and submit a drawdown request. Our team reviews each request and, once confirmed, transfers the funds to the business bank account registered on your file.

Minimum and maximum drawdowns

Each drawdown must meet a minimum amount — this is confirmed when your facility is set up. You cannot draw more than your current available limit in a single request. If you have an existing drawn balance, your available limit is your total limit minus the outstanding amount.

How quickly do funds arrive?

Timing depends on your bank's processing and the time of day your request is approved. Most transfers reach the destination account on the same or next business day. Requests submitted outside business hours are processed on the next working day.

What you should have ready

No new paperwork is normally needed for a drawdown — your facility is already in place. You will simply need to confirm the amount and the purpose if prompted. Credicorp may occasionally request updated financial information if a significant period has passed since your last drawdown or limit review.

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 does Credicorp Flex work?, Can I repay and redraw my Flex balance?.

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Credicorp Flex gives your company an approved credit limit you can draw against, repay, and draw from again — as many times as you need, without going through a fresh application each time. Think of it as a standing facility that sits ready for when your business needs working capital.

Setting up your limit

When your application is approved, Credicorp assigns a credit limit specific to your company. That limit reflects your company's turnover, trading history and current financial position. Once the facility is open, you can request a drawdown at any time up to that limit.

Drawing and repaying

You draw only what you need, when you need it. If your limit is £50,000 and you draw £15,000, the remaining £35,000 stays available. As you repay the drawn balance, that capacity is restored — so a £10,000 repayment on a £15,000 draw puts £45,000 back within reach. There is no need to close and reopen the facility between uses.

What Flex is suited for

Flex works well for businesses with lumpy or seasonal cash flow — covering a supplier invoice while waiting on a large customer payment, bridging a payroll date, or managing stock purchases ahead of a busy period. Because you only draw what you use, you keep control of how much facility you are using at any point.

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 do I draw funds from my Flex limit?, How is interest charged on Credicorp Flex?.

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Credicorp Flex is our revolving credit facility for UK limited companies. It works like a business overdraft, but with explicit terms and a per-drawing cost cap.

How Flex works

• You agree a credit limit with us (typically £50-£500 to start, rising to £1,000 as you build a repayment history with us).
• You draw any amount up to your remaining limit, any time, from the portal.
• Interest accrues daily on the drawn balance only — the unused portion of your limit costs you nothing.
• You pay back at the agreed minimum each month, plus any extra you choose.
• Once a drawing is fully repaid, that part of the limit is free to draw again.
• The total cost of any single drawing is capped at 100% of the drawn amount.

Who it is designed for

It is designed for companies whose cashflow is unpredictable — seasonal, project-driven, or with periodic supplier-deposit cycles. For a side-by-side comparison, see Flex vs a one-off Business Loan. To draw from your facility, see how to draw down from Flex. To understand how term-end works, see what happens at the end of a Flex term.

See also: Can my company use Flex and Slice together?, Can I leave my Flex facility open but unused?, Can I have several Flex drawings running at the same time?.

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Because Credicorp Flex is a revolving facility you dip into more than once, it helps to understand how the charges appear. The principle is simple: you pay for what you draw, drawing by drawing, and your statement reflects that.

What you are charged on

Having a Flex limit available does not cost you anything in itself — interest applies only to the balance you have actually drawn. Interest is charged at the agreed daily rate on that drawn balance, so the more you pay down, the less interest accrues. See how interest is charged on a Flex facility.

The one-off fee

The equivalent of the establishment fee is charged once, on your first drawing — not every time you draw. After that, drawing down again does not add another set-up fee.

Reading your Flex statement

Your statement shows each drawing, what you have repaid against it, and the outstanding balance — much like a loan statement, but with more than one drawing in view. For how to read the layout, the same principles apply as in how to read your statement of account. To pay a drawing down faster, see paying off a Flex drawing early.

Every figure is shown before you draw. Because this is lending to a company for business purposes, it sits outside FCA consumer-credit regulation under Article 60B FSMA RAO 2001 and is not covered by the Financial Ombudsman Service or the FSCS.

See also: Can my company use Flex and Slice together?, Can I leave my Flex facility open but unused?, Can I have several Flex drawings running at the same time?.

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People often compare Credicorp Flex with a business overdraft because both let a company draw funds flexibly rather than taking one fixed lump. They share that revolving feel, but there are meaningful differences worth understanding.

What they have in common

• You draw what you need against an approved limit rather than a single lump sum.
• Repaying restores your available headroom to draw again.
• Both suit short-term, fluctuating cash needs rather than long-term capital.

Where they differ

An overdraft is tied to your bank account and is usually repayable on demand, which can make it less predictable if the bank reviews it. Flex is a standalone facility from Credicorp with terms set out in your offer, separate from your day-to-day banking. That separation can give clearer terms and keep your bank arrangements distinct from your borrowing.

Which to choose

If you already have a reliable overdraft that meets your needs, you may not need Flex. If you want a dedicated business facility with defined terms, or your bank has reduced your overdraft, Flex can be a useful alternative or complement. Remember Flex is business lending outside the consumer-credit regime, so FOS and FSCS do not apply, and compare the rate in your offer against your overdraft cost.

See also: Can my company use Flex and Slice together?, How quickly can I access Flex funds after a drawing?, How do repayments differ between Credicorp Flex and Credicorp Slice?.

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Credicorp Flex is a revolving facility, so interest works a little differently from a one-time loan. The key idea is simple and worth knowing before you draw: you pay for what you use, not for the limit you hold. Here is how the charging works.

You are charged on the drawn balance only

Interest accrues only on the amount you have actually drawn down, and it accrues daily on that outstanding balance. The unused portion of your agreed limit costs you nothing — having a larger limit available does not cost more until you use it. As you pay a drawing down, the balance interest is calculated on falls, so the daily interest falls with it.

A one-off fee on first drawing

There is a single, one-off establishment fee on your first drawing from the facility, shown to you before you confirm. It is a one-time charge for opening the facility, not a recurring or monthly fee. After that, the cost is the daily interest on whatever you have drawn.

The 100% cap applies per drawing

The total cost of any single drawing is capped at 100% of that drawing — you will never pay more than double what you drew on any one drawing. The cap is applied per drawing, so it protects each amount you take in turn.

The facility stays open as you repay

Because Flex revolves, repaying a drawing frees that part of your limit to use again, and the facility itself stays open with no maintenance charge for simply holding it — see can I pay off a Flex drawing early and whether clearing a drawing closes the facility. Paying a drawing off early stops its interest the same day, since interest is charged only for the days the balance is actually held.

Seeing the exact figures

This article describes how interest is charged, not the rate — your actual daily rate, any fee and your limit are shown in your customer portal and on your agreement before you commit, so you always see the real numbers for your facility first. To understand how the limit is set and increased, see how your Flex limit is set and raised, and for the minimum you pay each cycle, how the Flex minimum payment is calculated. To compare a reusable line against a one-time loan for your cash flow, the business loans page shows both.

See also: Can my company use Flex and Slice together?, Can I leave my Flex facility open but unused?, Can I have several Flex drawings running at the same time?.

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Interest on Credicorp Flex is charged only on the balance you have drawn at any given time. If you have a £60,000 limit but have drawn only £20,000, interest accrues on £20,000 — not the full limit. Undrawn capacity does not attract interest charges.

How accrual works day to day

Interest accrues on a per-interval basis against your outstanding drawn balance. As you repay, the balance falls and interest accrues on a smaller figure. As you draw more, the balance rises and interest accrues accordingly. Your account statement will show accrued charges broken down by period so you can see exactly what has built up.

When interest is collected

Accrued interest is collected at the intervals set out in your facility agreement — typically monthly. The exact collection date and method will be confirmed in your facility terms. Interest is not compounded within a collection period; you are charged on the drawn balance during that interval.

Keeping costs predictable

Because you only pay interest on what you draw, you can manage the cost of Flex by keeping repayments timely and drawing only what you genuinely need. Paying down the balance ahead of an interest collection date reduces the charge for that period. Your account dashboard shows your current balance and accrued interest so you can plan accordingly.

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 and redraw my Flex balance?, What happens if I do not use my Flex facility?.

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Your Credicorp Flex limit is set during the application process, from the same affordability assessment that decides a one-time loan. The opening limit is typically the lower of (a) our policy maximum for the tier or (b) roughly 30% of the company's average monthly trading inflow.

What triggers a review

• Repayment history. Six months of clean Flex usage (drawings repaid on or before their minimum-payment dates) automatically flags your account for a review.
• Trading-inflow growth. If your open-banking-linked bank statements show sustained trading growth (greater than 15% over 6 months), the affordability model recalculates a potential new limit.
• Customer request. You can request a review any time from the portal — "Request a limit review" in the Flex panel. No fee, no commitment.

How a request is reviewed

We look at three things: your repayment history on the existing limit, your current open-banking-linked bank-statement inflow (with your consent), and your overall affordability ratio (Flex + any one-time Credicorp loans + reported business borrowing elsewhere). The new limit must still sit within ~30% of average monthly trading inflow.

Most reviews complete within 2-3 working days. If you carry a vulnerability flag, the request is routed to a manual reviewer who reads the full picture.

Setting your own ceiling

From the portal you can set a PERSONAL limit lower than your agreed facility — useful if you want a self-imposed ceiling. The personal cap is a binding limit on drawings; you can adjust it any time.

For the full responsible-lending angle: setting and raising your Flex limit responsibly. To talk through your specific situation, contact us.

See also: Can I have several Flex drawings running at the same time?, Can I apply for Flex and Slice at the same time? and Can I consolidate two Credicorp facilities into one?.

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Your minimum monthly repayment on Credicorp Flex is calculated using a simple formula: it is the GREATER of (a) 10% of your drawn balance at the cycle date, or (b) £20.

Worked examples

• Drawn balance £1,000 → minimum payment = max(£100, £20) = £100.
• Drawn balance £150 → minimum payment = max(£15, £20) = £20.
• Drawn balance £50 → minimum payment = max(£5, £20) = £20 (the £20 floor).

How the minimum payment is applied

Each cycle's minimum payment is split: interest accrued during the cycle is paid first; whatever remains of the minimum is applied against the principal. So if a £1,000 drawn balance accrues £75 of interest over the cycle, the £100 minimum becomes £75 interest + £25 principal, bringing the next cycle's balance to £975. Next cycle's minimum becomes £97.50 (10% of £975), and so on — the minimum scales down as the balance does.

Paying more than the minimum

You can pay more than the minimum any time at no penalty. Larger payments reduce the principal faster, which means less interest in subsequent cycles. To pay the full balance and close the drawing, use "Settle in full" in the portal — the meter stops the same day.

For the full mechanics and worked drawings, see our Inside Credicorp Flex guide. To check your specific cycle, see your statement in the portal or ask us.

See also: How does Credicorp Flex work?, How to read your Flex statement, What happens if my company misses a Flex repayment?.

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One of the points of a revolving facility is speed: once Credicorp Flex is set up, you should not have to reapply each time you need cash. You request a drawing against your available limit and the funds are sent to your nominated business account.

What affects the timing

• Whether your facility is already approved and active. The first setup takes longer than later drawings.
• The time of day you request. Requests made within banking hours usually move faster than late-evening ones.
• Your bank's processing and payment-clearing windows, which sit outside our control.
• Whether we need to confirm anything with you before releasing funds.

How to keep it smooth

Keep your nominated business bank details up to date, make sure the person requesting has authority on the account, and respond promptly if our team asks for confirmation. Requesting in good time rather than at the last possible moment gives the most headroom against bank delays.

A note on certainty

Because Flex is business lending outside the consumer-credit regime, the usual consumer protections such as the Financial Ombudsman Service and FSCS do not apply. If a drawing has not arrived when you expected, contact our support team and we will trace it with you.

See also: What can I use a Flex drawing for?, Can I leave my Flex facility open but unused? and Common mistakes to avoid with a Flex facility.

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The defining feature of Credicorp Flex is that it revolves. Unlike a fixed-term loan, which you draw once and then repay down to nothing, Flex lets you repay and then draw again within your approved limit, without reapplying.

The repay-and-redraw cycle

• You draw funds, which reduces your available headroom.
• You make repayments, which reduce your balance.
• As your balance falls, your headroom is restored and becomes available to draw again.

Why this matters for cash flow

For a business with uneven income, this cycle is the whole point. You can draw to cover a gap, repay when customers pay you, and have the headroom ready again for the next gap. You pay charges on what is drawn at the rate in your offer, so clearing balances quickly keeps the running cost down.

Using it responsibly

The cycle works best when repayments genuinely come from trading income, not from drawing again to cover a previous drawing. If you find your balance never really falls, that is a sign the facility is carrying more than short-term cash flow, and it may be worth speaking to us about whether a different structure suits the business better.

See also: How redrawing works on a Credicorp Flex facility, How much of my Flex limit is still available? and Can I have several Flex drawings running at the same time?.

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Because Credicorp Flex revolves, repayments do not run to a single fixed schedule the way a one-time loan does. Instead they follow a rhythm tied to what you have drawn and a regular monthly cycle date. Once you can see how those two things interact, the facility is easy to manage day to day. This page is about the repayment rhythm — for the cost of a drawing, the linked pages cover the actual charging.

The pieces that set your repayment

• Your drawn balance — the total you have taken and not yet repaid. Interest accrues on this, not on your whole limit. See how interest is charged on a Flex facility.
• Your cycle date — a fixed monthly point at which we look at your balance, add up the interest accrued that month, and set the minimum due for the cycle.
• Your minimum payment — calculated from the drawn balance at the cycle date. See how the Flex minimum payment is calculated.

How a single repayment is applied

Each cycle your minimum is split in a set order: the interest accrued during that cycle is cleared first, and whatever is left of the payment then reduces the principal. Because the principal falls, the interest in the next cycle is calculated on a smaller balance, so the minimum scales down as the balance does. Pay more than the minimum and a larger share goes straight against the principal, which shortens the run and lowers the total interest. There is no penalty for paying extra — see whether you can pay off a Flex drawing early.

The repay-and-redraw rhythm

The point of a revolving facility is that repayment frees the limit back up. As you repay, your drawn balance falls and the headroom you have repaid becomes available to draw again — without reapplying. So the natural rhythm is: draw to cover a gap, repay as trading income comes in, and have the headroom ready for the next gap. For the mechanics of that cycle, see how repaying Flex frees up your limit again.

What changes when you draw again

Drawing again mid-cycle does not reset your cycle date or create a separate repayment schedule. It increases your single drawn balance, so interest from that point accrues on the higher amount, and your next minimum — set at the upcoming cycle date — reflects the larger balance. Each drawing keeps its own cost ceiling, since the total-cost cap applies per drawing, but your monthly minimum is worked out from the combined balance you are carrying. In practice that means you can draw whenever you need to and still have one predictable monthly figure to plan around.

Staying ahead of it

The rhythm works best when repayments come from trading income rather than from drawing again to cover an earlier drawing. If your balance never really falls between cycles, that is a useful signal that the facility may be carrying more than short-term cash flow, and it is worth a conversation about whether a different structure fits the business better. You can see your exact balance, interest and next cycle date any time in your customer portal, or get in touch if you want to talk a repayment plan through.

Credicorp Flex is lending to a limited company or LLP for business purposes, not consumer credit. It sits outside FCA consumer-credit regulation under Article 60C of the FSMA Regulated Activities Order, and is not covered by the Financial Ombudsman Service or the FSCS.

See also: Can my company use Flex and Slice together?, Can I leave my Flex facility open but unused?, Can I have several Flex drawings running at the same time?.

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Credicorp Flex rewards businesses that match their borrowing to their cash cycle. The closer your repayments track your real income, the cheaper and calmer the facility is to run, because charges relate to what you have drawn and for how long.

Map your cash cycle first

• Note when money reliably comes in, such as customer payment dates or seasonal peaks.
• Note when money reliably goes out, such as payroll, rent, VAT, and supplier terms.
• Identify the gaps where outgoings land before income arrives. Those gaps are what Flex is for.

Time drawings and repayments deliberately

Draw close to when you actually need the money, not far in advance. Then schedule repayments to follow your incoming payments, so a customer settling an invoice flows straight into clearing the drawing it covered. Clearing balances as income arrives keeps the running cost down.

Build in a margin

Customers pay late and bills arrive early, so leave headroom rather than running your limit to the edge. A facility kept a little under full gives you room to absorb surprises. Review your balance, headroom, and the rate in your offer regularly so the facility stays a tool you control rather than one that controls you.

See also: How do repayments differ between Credicorp Flex and Credicorp Slice?, How repayments work on Credicorp Flex, Fixed vs flexible repayments: which suits your cash flow?.

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Your Credicorp Flex statement is the clearest picture of how your facility is doing. Getting comfortable with it helps you stay in control, spot issues early, and plan your next drawing or repayment with confidence.

The key things to look for

• Your balance. The total amount currently drawn and not yet repaid.
• Your available headroom. Your approved limit minus the balance, which is how much you can still draw.
• Drawings and repayments. The movements over the period so you can see what went out and what came back.
• Charges. What has been applied to the drawn balance, calculated at the rate set in your offer.

How to use it

Read your statement as a check, not just a record. Is the balance trending down as you intended? Is your headroom where you expect? Are the charges in line with how much you have had drawn and for how long? Answering these each period keeps the facility working the way you planned.

If something looks wrong

If a figure does not match your own records, contact our support team and we will go through it with you. It is always easier to resolve a query promptly than to let it carry forward across several periods.

See also: How much of my Flex limit is still available?, Can my company use Flex and Slice together?, How repaying Flex frees up your limit again.

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A common worry with a revolving facility is that paying off what you have drawn might "use it up" or shut it down. With Credicorp Flex it does the opposite: clearing a drawing refreshes the credit available to you, and the facility stays open. Here is what actually happens.

Clearing a drawing frees the limit

When you fully repay a drawing, that portion of your agreed limit becomes available to draw again. That is the whole point of a revolving line — you can draw, repay, and redraw against the same limit as your cash flow rises and falls, without reapplying each time. Repaying is what keeps the line useful, not what ends it.

The facility stays open

The facility itself remains open after a drawing is cleared, with no fee or maintenance charge for simply holding it. An unused Flex line costs you nothing while it sits there: interest is only ever charged on a balance you have actually drawn — see how interest is charged on a Flex facility. So there is no cost penalty for paying a drawing off and leaving the line ready for next time.

A clean line can be increased

Keeping a facility open and well-run works in your favour. A Flex line with a clean repayment history is exactly the kind of account we periodically review for a limit increase — see how your Flex limit is set and raised. Clearing drawings promptly is part of building that record.

If you do want to close it

The facility only closes when you ask us to close it. If you would like to, you can request closure once any drawn balance is settled — start from your customer portal or the General Support Enquiry form, and we will confirm in writing. Closing a Flex facility is not the same as closing your whole Credicorp account; for that, see how to close your Credicorp account.

Paying a drawing off early

You can settle a drawing in full at any time, with no fee and no minimum interest charge, which stops that drawing's interest the same day — see can I pay off a Flex drawing early. Once it is settled, the limit it used is free again, and the facility carries on.

See also: Can my company use Flex and Slice together?, Can I leave my Flex facility open but unused?, Can I have several Flex drawings running at the same time?.

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Seasonal businesses live with a feast-and-famine cash cycle: strong trading in some months and thin trading in others, often with stock or staffing costs landing before the busy season arrives. Credicorp Flex is built for exactly that kind of uneven rhythm.

Why the revolving shape helps

• You can draw ahead of a peak to fund stock, staff, or marketing.
• You repay as the season delivers income, restoring your headroom.
• You then have the facility ready again for the next cycle without reapplying.

Examples of seasonal pressure

A hospitality company gearing up for summer, a retailer stocking for a festive peak, or a landscaping firm carrying staff through quieter winter months all face the same pattern: spend now, earn later. Flex lets you bridge that gap and then clear the balance when the season pays off.

Plan the whole cycle

The key is to plan a full year, not just the next peak. Know when your quiet months fall and make sure your repayment plan accounts for them. Borrow against the season you can see coming, repay from its income, and keep some headroom for the lean stretch. Check the rate and terms in your offer against your seasonal calendar before committing.

See also: Is Flex secured, and do directors need to give a guarantee?, Does Flex affect my company's credit profile?, Who is eligible for Credicorp Flex?.

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A common and reasonable worry when a company borrows is whether a director will be personally on the hook. For Credicorp Flex, the answer is straightforward: we do not take personal guarantees from directors. The facility is granted to the company on the basis of the company's own position.

What this means

• The agreement is between Credicorp and your limited company or LLP.
• Directors are not asked to personally guarantee the company's Flex borrowing.
• We assess the company when deciding whether to offer a facility and on what terms.

Why we work this way

Lending to the company, and assessing the company, keeps the borrowing where it belongs: within the business. It lets directors run the company without putting their personal position behind everyday working-capital decisions.

Responsibility still matters

No personal guarantee does not mean no responsibility. Drawings commit the company, and the company is expected to repay them under the terms in its offer. Directors should manage the facility prudently, keep within the limit, and repay on schedule. If your company's circumstances change, contact our support team early. As business lending, Flex sits outside the consumer-credit regime, so FOS and FSCS do not apply.

See also: Do you take a personal guarantee from directors?, Does Flex affect my company's credit profile?, Who is eligible for Credicorp Flex?.

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If your facility is working well, you may want a higher limit. That is a reasonable thing to ask for, and a good repayment record genuinely helps. The important word is responsibly: a higher limit should give your business more breathing room, never set up a problem.

How a limit increase is considered

An increase is assessed the same way as the original facility — it is affordability-led. We look at whether the business can comfortably support the larger limit, drawing on your trading picture and your history of repaying on time. A consistent record of using the facility well is exactly the evidence that supports more headroom. See how a Flex limit is set and raised.

Using more headroom well

• Keep drawing what you need and paying it down — that pattern is what supports future increases.
• Keep your business bank connection or statements current so the assessment sees an up-to-date picture.
• If your needs have genuinely grown beyond short-term working capital, a mainstream SME facility may suit better; we will say so honestly.

If at any point repayments feel tight, the responsible move is to talk to us early rather than draw more — see setting up a repayment arrangement. Because this is lending to a company for business purposes, it sits outside FCA consumer-credit regulation under Article 60B FSMA RAO 2001 and is not covered by the Financial Ombudsman Service or the FSCS.

See also: Can my company use Flex and Slice together?, Can I leave my Flex facility open but unused?, Can I have several Flex drawings running at the same time?.

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Flex and Slice are both short-term business products with the same transparent, capped pricing — but they are shaped for different needs. The quickest way to tell them apart is one question: do you have an ongoing need you will dip into more than once, or one specific bill you would rather spread than pay all at once?

The core difference

Credicorp Flex is a revolving credit limit. You agree a limit with us, draw from it whenever you need to, pay it down as cash comes in, and redraw as the limit frees up. It is built for cash flow that ebbs and flows. See how Credicorp Flex works.

Credicorp Slice spreads one specific eligible business bill. You bring us a single supplier invoice, VAT bill, or utility bill; we pay it in full today; you repay us over a fixed set of scheduled instalments. It starts and finishes around that one bill. See what Credicorp Slice is.

When Flex fits

• Your cash-flow needs are recurring or unpredictable — seasonal swings, project cycles, periodic supplier deposits.
• You expect to dip in and out rather than borrow once: covering stock, a wages gap, or an unexpected cost as it lands.
• You would rather hold a standing limit that is there when you need it and costs nothing while unused.

When Slice fits

• You have one known bill — a supplier invoice, a VAT payment, a utility or insurance renewal — that you would rather not pay in a single lump.
• You want that bill paid in full today so your supplier relationship stays clean, then to repay over a few instalments.
• You prefer an arrangement that ends: a fixed number of instalments, then you are done, with no balance to keep managing.

How each is priced

With both products you only pay for what you use, and every figure is shown in full before you commit — nothing is hidden until after.

• Flex charges interest only on the balance you have actually drawn; the unused part of your limit costs you nothing. The total cost of any single drawing is capped at 100% of that drawing. See how Flex charges show per drawing.
• Slice has one cost for the bill you are spreading, shown up front, with the total capped at 100% of the bill. See how Slice pricing is shown before you commit.

In short: Flex caps cost per drawing, Slice caps cost per bill, and with both you will see the full cost on screen before you agree to anything.

How they compare to other options

Flex is not the only way to cover a known cost, and Slice is not the only way to spread spending:

• If you have a single, fixed cost to clear over a set term rather than an ongoing need, compare Flex with a one-off Business Loan: Flex vs a one-off Business Loan.
• If you are weighing Slice against open-ended, repeated card spending, compare the two: Slice vs a business credit card.

Can I hold more than one?

Yes. Flex and Slice are separate products, and many companies use both — a standing Flex limit for everyday cash-flow swings, plus Slice when a specific large bill is better spread. Holding one does not rule out the other; each is assessed and applied for in its own right.

Both products are lending to a limited company or LLP for business purposes, with the company as the borrower and no personal guarantee. Because of that, they sit outside FCA consumer-credit regulation under Article 60B FSMA RAO 2001 and are not covered by the Financial Ombudsman Service or the FSCS.

See also: Can my company use Flex and Slice together?, Can I leave my Flex facility open but unused?, Can I have several Flex drawings running at the same time?.

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Stock and supplier payments are some of the most common reasons UK companies feel cash-flow pressure. You often have to pay for goods before you have sold them, or settle a supplier invoice well before your own customers pay you. Credicorp Flex can help bridge that timing gap.

Where Flex can help

• Buying stock in larger, more cost-effective quantities ahead of demand.
• Paying a key supplier promptly to keep a good relationship or secure early-payment terms.
• Smoothing the gap between paying for goods and being paid for the finished sale.

The discipline that makes it work

Stock financing only works if the stock actually sells. Draw against goods you are confident you can move, and plan to repay the drawing from the sales it generates. Tie each drawing to a clear, expected return rather than buying speculatively and hoping.

Keep the facility flexible

Because Flex revolves, repaying after a sale restores your headroom for the next purchasing cycle. Avoid letting stock drawings stack up faster than they clear, since charges apply to what stays drawn at the rate in your offer. Used with discipline, Flex turns awkward supplier timing into a manageable, repeatable cycle.

See also: Who in my company can manage the Flex facility?, Funding everyday working capital for your company, How Flex charges show up, per drawing.

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A Flex drawing is money your company takes from its approved facility for use in the business. Because Credicorp lends only for business purposes, the funds need to support the running, growth, or working capital of the company.

Common, sensible uses

• Bridging a gap between issuing invoices and being paid.
• Buying stock or raw materials ahead of a busy period.
• Covering payroll, rent, or supplier bills during a slow month.
• Funding a small piece of equipment or a one-off project cost.
• Meeting a tax or VAT bill where cash flow is temporarily tight.

What it is not for

Flex must not be used for personal or household spending by a director or employee. It is not a substitute for long-term capital where a fixed-term facility would suit the need better, and it should not be drawn simply to sit idle in an account, since charges apply to what you draw.

Borrow what the business can repay

Only draw what your company genuinely needs and can comfortably repay from trading. If you are funding a large, defined purchase with a clear payback period, compare Flex against a one-off business loan or Credicorp Slice first. Drawing thoughtfully keeps your facility working for you rather than against you — you can see how the Credicorp Flex facility is priced and structured on the product page.

See also: How quickly can I access Flex funds after a drawing?, Can I manage more than one facility from a single account? and Common mistakes to avoid with a Flex facility.

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Credicorp Flex is available to UK-registered limited companies and LLPs. We do not lend to sole traders, partnerships without limited liability status, or individuals. Lending is to the company as a legal entity, not to any individual director or member.

Trading history and turnover

Applicants are expected to have a demonstrable trading history — typically evidenced by filed accounts, bank statements or management accounts. Newly incorporated companies with very little trading activity are unlikely to meet the eligibility threshold for a Flex facility, though we assess each application on its own merits. There is no hard minimum turnover figure published, as limit sizing depends on the full picture of the business.

Financial health

Credicorp reviews the company's financial position as part of the application — including cash flow, existing liabilities and the directors' conduct of the business. A company in formal insolvency proceedings or with significant unresolved County Court Judgements is unlikely to be eligible. If your company has gone through a difficult period but has since stabilised, it is worth applying and explaining the context.

What we do not assess

Because the facility is to the company, we do not carry out personal credit checks on individual directors in the way a consumer lender would. The focus is on the business's own financial standing. There is no director personal guarantee required for a Credicorp Flex facility.

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 does Credicorp Flex work?, Can I increase my Credicorp Flex credit limit?.

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Credicorp Flex is a facility — an agreed limit you can use over time — so it has a term, like any facility. Here is what to expect as that term comes to an end, and what your options are.

In the run-up to the end of the term

We will contact you before the facility reaches the end of its agreed period, so nothing comes as a surprise. At that point the picture is simple: any drawings you still have outstanding need to be repaid in line with their terms, and the facility itself can be reviewed.

Your options

• Clear your drawings and let it close. If you no longer need the facility, repay any outstanding balance and it simply comes to an end. There is no penalty for not renewing.
• Review for renewal. If the facility is useful and the business can comfortably support it, it can be reviewed for continuation. As with any lending, that review is affordability-led and considers your track record — see how a Flex limit is set and raised.

If money is tight as the term ends, talk to us early rather than letting a payment fail — see setting up a repayment arrangement. For how clearing a drawing affects the facility while it is live, see does clearing a drawing close the facility. Because this is lending to a company for business purposes, it sits outside FCA consumer-credit regulation under Article 60B FSMA RAO 2001 and is not covered by the Financial Ombudsman Service or the FSCS.

See also: Can my company use Flex and Slice together?, Can I leave my Flex facility open but unused?, Can I have several Flex drawings running at the same time?.

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If you hold a Credicorp Flex facility but do not draw from it, no interest accrues — interest is charged only on amounts you have actually drawn. However, your facility agreement may include a standing facility fee or commitment charge for maintaining the limit, regardless of drawdown activity. Review your agreement for the specific terms that apply to your facility.

Why keep an undrawn facility open?

Many businesses keep a Flex facility open as a contingency — the credit line is there if needed, even when cash flow is comfortable. This avoids the delay of applying for finance at short notice during a busy or pressured period. The facility is ready to draw the moment it is needed.

Inactivity and facility reviews

If your facility is unused for an extended period, Credicorp may contact you to confirm you still wish to maintain it. In some cases, a prolonged period of inactivity may lead to a limit review or a request to provide updated financial information. This is to ensure the facility remains appropriately sized for your company's current position.

Reducing or closing an unused facility

If you decide you no longer need the facility — or want to reduce the limit — you can request this through your account at any time, provided there is no outstanding drawn balance. Closing the facility with a zero balance is straightforward and incurs no early-termination penalty in most cases; your agreement will confirm the precise terms.

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 interest charged on Credicorp Flex?, How do I close my Credicorp Flex facility?.

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If your company misses a Flex repayment, the most important thing is to act early. Cash-flow pressure is common in business, and we would far rather hear from you before a payment is missed than discover it afterwards.

What may follow a missed payment

• We will contact you to let you know and to understand what is happening.
• Charges may continue to apply to the outstanding balance under the terms in your agreement.
• Your ability to draw further may be paused while the balance is brought back in order.
• Persistent non-payment can affect how the company's borrowing is viewed.

What to do

Contact our support team as soon as you see a problem coming. If your business is under genuine financial strain, tell us, and we will talk through the options available for your situation. The earlier we know, the more room there is to find a workable path.

The protection position

Because Flex is business lending to a limited company or LLP, it falls outside the FCA consumer-credit regime, so the Financial Ombudsman Service and FSCS do not apply. That makes open, early communication with us all the more valuable when something goes wrong.

See also: How to plan Flex repayments around your cash flow, When does Flex suit a business?, Who in my company can manage the Flex facility?.

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Applying for Credicorp Flex is quicker when you have the company's details to hand. Because we lend to UK limited companies and LLPs, the information centres on the business rather than on you personally.

What helps your application

• Your company's registered name and Companies House number.
• Confirmation that you have authority to apply on the company's behalf, for example as a director or designated member.
• Your nominated business bank account details for drawings and repayments.
• A clear sense of what the business needs the facility for and how it trades.
• Any recent financial information we ask for to help set an appropriate limit.

Why we ask

We use this to confirm the company is eligible, to understand its position, and to set a limit and terms that are realistic for how it trades. The terms you are offered, including the rate, are shown in your offer once we have assessed the application.

If something is missing

You can still start, and our team will tell you what else is needed. Responding quickly to any follow-up requests is the single biggest thing that keeps an application moving. Remember this is business lending outside the consumer-credit regime, so FOS and FSCS protections do not apply.

See also: Who is eligible for Credicorp Flex?, What can I use a Flex drawing for?, What information should I have ready before I start?.

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Credicorp Flex is a revolving facility: you have an approved limit, you draw what you need, and the limit replenishes as you repay. That shape suits some businesses far better than others. Here is how to tell whether it fits yours.

Signs Flex is a good fit

• Your income arrives unevenly, for example through seasonal trade or long payment terms from customers.
• You face frequent small, short-lived cash gaps rather than one big funding need.
• You want the option to borrow again without reapplying each time.
• You value only paying for what you actually draw, not for a lump sum sitting unused.

When something else may fit better

If you need a single, large amount for a defined project with a clear repayment horizon, a one-off business loan or Credicorp Slice may be a cleaner match. Revolving facilities reward discipline; if you would be tempted to keep the limit fully drawn permanently, a fixed structure can be easier to plan around.

Match the tool to the cash flow

The honest test is whether your need is recurring and variable or single and fixed. Flex is built for the first. Look at the rate and terms shown in your offer alongside how you actually trade before you decide.

See also: What happens if my company misses a Flex repayment?, How to plan Flex repayments around your cash flow, How does Credicorp Flex work?.

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Because Credicorp Flex is granted to your company rather than to an individual, the people who can apply for it, request drawings, and manage repayments are those with authority to act on the company's behalf.

Who typically has authority

• Directors of a limited company.
• Designated members of an LLP.
• Anyone the company has formally authorised to operate the facility and the nominated bank account.

Keeping authority clear

It is worth being clear internally about who can request a drawing and who signs off larger amounts. Even though no personal guarantee is involved, drawings commit the company, so a simple internal control, such as requiring two people to agree on bigger draws, protects the business from mistakes or misuse.

Keeping us updated

If your directors or authorised people change, let us know so our records match who can genuinely act for the company. Keeping authorised contacts current also means we can reach the right person quickly if a repayment or a drawing needs attention. If you are unsure who in your business should hold this responsibility, our support team can talk it through.

See also: Can I manage more than one facility from a single account?, Using Flex to manage supplier and stock costs and What happens at the end of a Flex term.

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Credicorp Flex is a business borrowing facility. We lend only to UK-incorporated limited companies and limited liability partnerships (LLPs), and only where the borrowing is for genuine business purposes. The agreement is with the company, not with you personally.

The basic requirements

• You must be a UK limited company or LLP registered at Companies House.
• The funds must be used for the business, not for personal or household spending.
• Someone with authority to bind the company must apply on its behalf, such as a director or designated member.
• We assess the company's circumstances when deciding whether to offer a facility and on what terms.

Who we cannot lend to

We do not lend to individuals, consumers, or sole traders. Because Flex is business lending to incorporated entities, it sits outside the FCA consumer-credit regime. That means there is no Financial Ombudsman Service route and no Financial Services Compensation Scheme cover attached to it.

What about directors

We do not take personal guarantees from directors for Flex. The facility is granted to the company on the basis of the company's position. If you are unsure whether your business qualifies, you can apply and we will tell you, or contact our support team before you start.

See also: What information do I need to apply for Flex?, Credicorp Flex vs Credicorp Slice: how to choose, Who can hold a Credicorp account?.

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