Learn: using your loan

Credicorp offers two products to UK limited companies and LLPs: Credicorp Flex and Credicorp Slice. Both are forms of business borrowing, but they suit different patterns of need. Choosing well at the start saves you effort and cost over the life of the facility.

How they differ in shape

Think about whether your need is recurring or one-off. Flex is built around revolving access, so it tends to suit companies with fluctuating working-capital needs that rise and fall through a trading cycle. Slice is structured more like a defined facility for a known purpose. The exact mechanics, rate and term you are offered are always set out in your individual offer, not assumed here.

Questions to ask yourself

• Is this a single, sizeable purchase, or a series of smaller draws over time?
• Do you want the option to draw, repay and draw again, or a clear path to a zero balance?
• How predictable is the cash flow that will service it?

What stays the same

Whichever you choose, the borrowing is to your company, not to you personally, and we do not take personal guarantees from directors. Because we are an exempt business lender outside the FCA consumer-credit regime, the Financial Ombudsman Service and FSCS do not apply.

If you are unsure which product suits your situation, our team can talk it through before you commit. Read your offer carefully, as it is the document that governs your facility.

See also: Matching the borrowing to the need it funds, Credicorp Flex vs Credicorp Slice: choosing a product, Flex or Slice: which product should my company apply for?.

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Most difficulties with business borrowing come not from the borrowing itself but from a handful of avoidable habits. Knowing what they are makes them easy to sidestep.

Borrowing more than the need

It can be tempting to draw the full amount available rather than the amount the task requires. Drawing only what you need keeps the cost down and the facility healthy.

Treating it as set-and-forget

A facility rewards a little ongoing attention. Companies that never look at the balance until a problem appears tend to be the ones surprised by it. Regular reconciliation and a quick periodic review prevent that.

Leaving problems unspoken

• Waiting until a payment has failed before getting in touch.
• Letting outdated bank details cause a collection to bounce.
• Assuming a tight month will sort itself out.

Not reading the offer

Your offer is the document that governs everything: the rate shown in your offer, your agreed term, how interest accrues, and what happens on a late payment. Read it before accepting and refer back to it whenever you are unsure.

Credicorp lends only to UK limited companies and LLPs for business purposes, and the loan is to the company. As an exempt business lender we are outside the FCA consumer-credit regime, so the Financial Ombudsman Service and FSCS do not apply.

See also: Should you repay early or keep the facility running?, Matching the borrowing to the need it funds, Common mistakes to avoid with a Flex facility.

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If your company's cash flow improves, paying your loan off early is almost always a sensible move — and we make it simple. You can settle at any point during your term, and you will usually pay less than the original total because settling early stops further interest from accruing. An early-settlement charge of up to 28 days' interest may apply, though we waive it in many cases; the exact amount — if any — is shown in your settlement figure before you confirm. Here is how to do it and what you can expect to save.

Step one: ask for a settlement figure

You should never just guess the amount or pay your remaining instalments in one lump and hope it clears the balance. Instead, ask us for a settlement figure. This is the precise amount needed to close the loan completely as at a given date, taking into account what you have already paid and the interest rebate you are due. Because the figure depends on the exact date you pay, it is quoted with a short validity window. Our step-by-step guide to how to get a settlement figure shows you how to request one and how to read it.

What you save: the interest rebate

We charge simple interest over your term. When you repay early, you are no longer borrowing for the full original period, so you should not pay the full original interest. The settlement figure therefore includes an interest rebate — a reduction reflecting the time you are no longer borrowing for. In plain terms: pay the loan off halfway through and you avoid a meaningful chunk of the interest that would have accrued over the second half. The earlier you settle, the more of the remaining interest you save.

Settling early does carry an early-settlement charge of up to 28 days' interest — but we waive it automatically in many cases, including if your company is in financial difficulty, if settling early would not leave you better off, or in recognition of a consistent record of good standing. The exact charge, if any, is shown in your settlement figure before you confirm, so there are no surprises, and what you save on the remaining interest is still yours to keep. If you want the detail of how this works, read how the early-settlement charge works.

Step two: pay the settlement amount

Once you have your settlement figure and it is still within its validity window, pay the exact amount by the method we set out. Tips to keep it clean:

• Pay the precise figure quoted — not your usual instalment, and not a rounded number.
• Pay on or before the date the figure is valid to, so the rebate still applies as quoted.
• If the date slips, ask for a fresh figure rather than paying an out-of-date one.

After we receive and reconcile the payment, the loan is closed, any future Direct Debit collections stop, and you will be able to see the account marked as settled.

Partial early payments

You do not have to clear the whole balance to benefit. Paying down more than your scheduled instalment reduces the principal, which reduces the interest that accrues from then on. If you want to make a one-off overpayment rather than full settlement, tell us so we can apply it correctly and, if you wish, recalculate your remaining schedule.

Why it is worth doing

Short-term borrowing is relatively expensive by design — it is built for speed and short use, not to be carried for longer than you need. The single best way to reduce its cost is to repay it as soon as the company comfortably can. Because settling early stops further interest, it usually saves money even after any early-settlement charge. If you are ready, request your settlement figure today and pay it within its window — and if your reason for repaying early is that you are worried about affording the schedule, contact us first, because there may be better options than scrambling to clear it, and in genuine hardship the early-settlement charge does not apply.

See also: The 14-day withdrawal right (voluntary), Common mistakes to avoid with business borrowing, Choosing between Credicorp Flex and Credicorp Slice.

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Understanding the full cost of a facility before and during its life is one of the most empowering things a finance team can do. You do not need anything beyond your own offer and a little care to build an accurate picture.

Start with your offer

Your offer sets out the rate shown for your facility, your agreed term, how interest accrues for your product, and any fees. Those are the inputs. Rather than relying on rough memory, work from the actual figures in your own document, because they govern your facility.

Build the picture

• Note how interest accrues for your product, since Flex and Slice can differ.
• Lay the repayment schedule against your expected cash flow.
• Include any fees at the points your offer says they apply.
• Consider how drawdowns and early repayments would change the total.

Use it as a live tool

A forecast is most useful when you revisit it. If you draw more, repay early, or your circumstances change, update the picture so it stays true. Our worked-example and early-repayment guides explain the mechanics behind the numbers.

Credicorp lends only to UK limited companies and LLPs for business purposes. We will never quote you a figure here that should come from your own agreement. As an exempt business lender, we are outside the FCA consumer-credit regime, so the Financial Ombudsman Service and FSCS do not apply.

See also: How to compare the total cost of credit (the honest way), Daily interest vs APR: which is the honest comparison?, Keeping your company details current with us during the term.

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One of the most common and frustrating cashflow patterns for a trading business is having an order book full of profitable work while the current account shows very little cash. This almost always comes down to a mismatch in payment timing: you pay suppliers and staff promptly, but your customers pay you on 30, 60, or even 90-day terms. Short-term finance is specifically designed for this gap.

The timing mismatch explained

Suppose you complete a project in week one, invoice immediately, and your customer pays in week nine on standard 60-day terms. Meanwhile your supplier wants payment in week three and payroll runs in week four. The profit exists on paper but the cash has not arrived yet. This is a timing problem, not a profitability problem — and short-term finance is the right tool for a timing problem.

Matching the product to the gap

A revolving facility such as Credicorp Flex works well here: you draw at the point of need (week three, say), repay when the customer pays (week nine), and the facility resets for the next cycle. Because you only carry the balance for the weeks you actually need it, the cost reflects the genuine duration of the gap rather than a longer fixed term. For a single large invoice rather than a recurring pattern, Credicorp Slice — which spreads one bill over three or four weekly instalments at a flat 6% fee — may suit the occasion better.

Managing debtor terms actively

Short-term finance is most efficient when used as a bridge, not a permanent substitute for collecting cash. Alongside borrowing, it is worth reviewing whether your invoice terms are as tight as your market will accept, whether you offer early-payment incentives on large invoices, and whether your credit control process chases promptly from day one of an overdue balance. Every day you shorten your average debtor period is a day less you need to borrow.

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 to make the most of a revolving credit facility, Warning signs your business may be overtrading.

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There is no universal rule for how much a business should borrow, but there are practical checks that help you stay on the right side of proportionate. The goal is that your borrowing serves the business — bridging gaps, funding opportunities — rather than becoming a structural part of how the business runs.

A simple proportionality check

Once a quarter, compare your total outstanding borrowing against your average monthly revenue. If your outstanding balance is consistently more than one to two months of revenue, it is worth asking whether the borrowing is doing productive work or whether it has drifted beyond the original purpose. This is not a hard limit — some businesses operate legitimately with higher leverage — but it is a useful prompt for a honest review.

Separate borrowing by purpose

Keeping a simple log of what each draw or loan was used for makes proportionality much easier to assess. If you took a Credicorp Flex draw in January to bridge a supplier invoice and it was repaid in February when the customer paid, that is textbook proportionate use. If a draw from six months ago is still partly outstanding and you are no longer sure what it funded, that is a signal to investigate before drawing again.

Let revenue growth lead borrowing growth

A facility limit that made sense when you were turning over £200,000 a year may feel tight at £400,000 — and that is a legitimate conversation to have with us. But the right sequence is: revenue grows, then you review whether the facility needs to grow to support that revenue. Borrowing ahead of revenue growth in the hope that growth will catch up is a riskier posture and one worth being cautious about.

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: Warning signs your business may be overtrading, When and why to consider refinancing a business loan.

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A revolving credit facility is not a lump sum sitting in reserve — it is a flexible tool that rewards active, disciplined use. With Credicorp Flex you can draw funds, repay them, and redraw up to your approved limit as often as your business needs. The companies that benefit most treat the facility like a precision instrument rather than a safety blanket.

Draw to the purpose, not to the limit

Before each draw, name the specific gap you are bridging — a supplier invoice due before a customer pays, a short stock purchase, a payroll date that falls awkwardly in the month. Drawing only what that purpose requires keeps your outstanding balance low, reduces cost, and preserves headroom for the next need. Habitually drawing to the maximum is a signal that the facility limit may be mismatched to your business or that underlying cashflow needs attention.

Repay as soon as the cash arrives

The revolving structure means every repayment restores your available balance. If a customer settles a large invoice, repaying the facility immediately — even partially — frees capacity for the next cycle. Building a simple rule into your accounts process (for example, allocating a percentage of each incoming payment to the facility) prevents balance creep and keeps borrowing genuinely short-term.

Review utilisation monthly

Set aside ten minutes each month to check three numbers: the average balance you carried, the highest single draw, and the total repaid. If your average balance is consistently close to your limit, speak to us about whether the limit needs adjusting or whether a term loan would suit a specific project better. If utilisation is very low, ask whether the facility is covering the right gap at all.

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: Matching finance to the right business need, Managing repayments alongside monthly cashflow.

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A loan repayment that falls on the wrong day of the month can create unnecessary pressure even when your business is profitable. The good news is that a small amount of planning — mapping repayments against your cashflow calendar — removes most of the friction.

Build a simple cashflow calendar

List the dates each month when money reliably lands: standing-order customers, direct-debit receipts, regular contract payments. Then list your fixed outgoings: rent, payroll, VAT, supplier direct debits. The gap between the two reveals the safest window for a repayment to fall. If your biggest customer pays on the 15th and your payroll runs on the 25th, a repayment date in the 16th-to-20th range is naturally lower risk than one on the 5th.

Keep a buffer, not just a balance

A common mistake is allowing the current account to drop to just above zero between a repayment and the next receipt. If a customer pays a day late, that leaves no margin. A practical rule of thumb is to maintain a buffer equivalent to at least one full repayment cycle in the account before the repayment date, so a single delayed receipt does not cause a missed payment.

Treat repayment as a fixed cost, not a variable one

When projecting cashflow for the month ahead, put the repayment figure in the same column as rent and payroll — non-negotiable, not to be shuffled. Businesses that treat loan repayments as discretionary tend to find they have committed those funds elsewhere by the time the due date arrives. Scheduling it as a first-priority outgoing protects your credit relationship and avoids unnecessary charges.

If a genuinely exceptional month makes a scheduled repayment difficult, speak to us early. We can discuss your situation; early communication is always better than a missed payment.

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: Matching finance to the right business need, Warning signs your business may be overtrading.

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Not every funding gap is the same shape, and using the wrong product for the wrong gap is one of the most common ways businesses make borrowing more expensive or more complicated than it needs to be. The starting point is asking one question: is this a one-off need, a recurring need, or a specific bill I want to spread?

One-off, defined need: consider a Business Loan

If you need a fixed sum for a specific purpose — buying equipment, funding a project, covering a one-off large expense — a short-term business loan gives you certainty. You receive the lump sum, repay it over the agreed fixed term, and the facility closes. There is no temptation to redraw, and the repayment schedule is predictable, making it straightforward to plan around.

Recurring or unpredictable gaps: consider Credicorp Flex

If your business regularly faces timing mismatches — customers paying on 60-day terms while suppliers want 14 days, or stock orders that arrive before invoice settlements — a revolving credit facility suits the pattern better. You draw when needed, repay when cash arrives, and keep the headroom available for the next cycle without applying each time.

A single large bill you want to smooth: consider Credicorp Slice

Credicorp Slice is designed for a specific bill — a trade invoice, a quarterly tax payment, a supplier demand — that you want to spread across three or four weekly instalments at a flat 6% fee. It is not a general-purpose facility; it is a straightforward way to smooth one defined cost without committing to a longer borrowing arrangement.

If you are unsure which product fits, describe the cashflow gap to our team and we will suggest the most proportionate option.

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 to make the most of a revolving credit facility, Keeping business borrowing proportionate to revenue.

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Some costs arrive as a single, large demand that the business has not had time to accumulate cash for — a quarterly VAT bill, a trade supplier invoice, a lump-sum renewal. Credicorp Slice is designed specifically for that shape of problem: one bill, spread into manageable weekly instalments, at a flat 6% fee with no hidden charges.

How it works in practice

You present the bill you want to spread. Credicorp pays the amount to you or directly to the recipient, and you repay across three or four equal weekly instalments. The total cost is the original bill plus 6% — that is the complete cost, regardless of whether you repay in three weeks or four. There are no additional fees for the shorter repayment schedule.

When Slice is the right choice

• You have a specific, identifiable bill rather than a general cashflow shortfall.
• You expect to have the repayment cash within three to four weeks from regular trading income.
• You do not want to open or draw on a revolving facility for a one-off need.
• The 6% flat fee is acceptable relative to the cost of missing or delaying the original payment.

When Slice is not the right choice

If the cost you want to spread is a symptom of a recurring cashflow gap rather than a one-off timing mismatch, Slice will provide short-term relief but the same problem will recur next quarter. In that case, a revolving facility such as Credicorp Flex — which you can draw and repay repeatedly — is a better structural fit. Similarly, if you need more than four weeks to repay, a short-term business loan over a fixed term may 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: Matching finance to the right business need, Managing repayments alongside monthly cashflow.

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Drawdown is the moment the money you have borrowed leaves us and lands in your company's bank account. It is the practical end of the application process: once your Business Loan Agreement is signed and final checks are clear, there is nothing more for you to do but watch for the payment to arrive. Here is what happens, how quickly, and what can hold things up.

When drawdown happens

We release funds after two things are true: you have signed the Business Loan Agreement, and our final verification has passed. We typically approve within an hour and fund the same business day. If you sign and clear checks in the morning of a working day, the money is usually with you that afternoon; sign late in the evening or over a weekend and it will normally reach you the next business day.

The exact timing of the credit appearing in your account depends partly on your own bank and the payment rails it uses. Most UK business accounts receive funds sent by Faster Payments within minutes to a couple of hours, but some banks batch incoming payments. We do our part promptly; the last leg is between the payment network and your bank.

Where the money goes

Funds are paid to the company's nominated business bank account — the same account we verified during your application. We do not pay loan proceeds to a personal account, to a director, or to a third party. This protects you: it keeps the borrowing clearly with the company, where the business purpose sits, and it reduces the room for fraud. We lend to the company, not to its director personally, and there is no personal guarantee, so the company's account is the right destination.

If the account we hold on file is wrong or out of date, drawdown cannot complete until it is corrected and re-verified, so check it before you sign. For a one-time Business Loan Agreement there is a single drawdown of the full sum — you receive the whole amount at once, not in instalments.

What can delay it

A handful of things commonly slow drawdown down:

• An unsigned or partially signed agreement — every required signature must be in place.
• Bank details that do not match the verified company account, or a recently changed account we have not re-checked.
• A final identity or anti-fraud check that needs a quick confirmation from you.
• Sending late in the day, at a weekend or on a bank holiday, when payment networks and banks process less quickly.

If we need anything from you at this stage we will contact you using the details on your account. Remember that we will never ask you to move money to a "safe account" or send funds anywhere to "release" your loan — genuine drawdown only ever pays money to you, never asks you to pay first.

After the money lands

Your repayment schedule starts from the dates set out in your agreement and on your Key Information Sheet (KIS). Repayments are weekly or fortnightly, collected from the company account by Direct Debit. Keep enough cleared funds in the account on each collection date.

You can see your balance, your schedule and your documents at any time by signing in to your customer portal — for a walkthrough, see how to access your customer portal. If you want to understand exactly what changes once the agreement is live — your obligations, your cooling-off options and how servicing works — read after you sign the Business Loan Agreement. Both are good first stops in the days right after drawdown.

In short: drawdown is fast, it is a single payment to your company's verified account, and the clock on your schedule starts from there. If anything looks wrong with the amount or the timing, contact us straight away rather than waiting.

See also: The 14-day withdrawal right (voluntary), Common mistakes to avoid with business borrowing, Choosing between Credicorp Flex and Credicorp Slice.

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One of the most common questions we get from active borrowers is simply: how is the interest worked out? The good news is that it is straightforward. We charge simple interest on what you borrow, not compound interest, and every figure that applies to your own loan is set out in advance on your Key Information Sheet (KIS) and in your Business Loan Agreement. Here is the method, worked through with an example so you can follow the logic.

Simple interest, not compound

Compound interest charges you interest on interest — the balance grows on itself over time. We do not do that. With simple interest, the charge is based on the original amount you borrowed (the principal) over the agreed term. Because our loans are short — between 14 and 84 days — and because the figures are fixed up front, you know the total amount payable and the total cost of credit before you ever sign. There are no surprises layered on later.

A worked example (illustrative only)

To show the shape of the maths, suppose a company borrows £200 over a short term and the simple interest charge for that term came to, say, £20. The total amount payable would be the principal plus the interest: £200 + £20 = £220. If repayments were fortnightly across the term, you would divide that £220 across the agreed number of instalments. That is the whole method: principal, plus a fixed interest charge, repaid on a schedule.

This is an illustration, not a quote — your figures are on your KIS. The £200 and the £20 above are made-up round numbers chosen only to make the arithmetic clear. They are not Credicorp's price and they are not an offer. The amount you borrow, your term, your interest charge and your exact instalments are personal to your loan and appear on your own Key Information Sheet.

Why we don't lead with an APR

You will not see us headline a consumer-style APR figure. APR is an annualised percentage designed mainly for long-running consumer credit; stretching it across a loan that may last only a few weeks can distort the picture and make a short, transparent cost look stranger than it is. Instead we show you the things that actually tell you what the loan costs: the amount borrowed, the term, the total amount payable, the total cost of credit, a simple annualised rate for comparison, and the full repayment schedule. We explain the reasoning more fully in daily interest vs APR.

Reading it on your own documents

The single most reliable way to know your interest is to read your KIS. It lays out, in plain English, every number that applies to you — so you are never guessing from a general example like the one above. If you are not sure which line is which, our guide to how to read a Key Information Sheet takes you through it field by field.

A few practical points worth knowing:

• The interest is calculated on the amount you actually draw down, over your actual term.
• Because it is simple interest, repaying early generally reduces what you pay — there is no compounding to unwind. An early-settlement charge of up to 28 days' interest may apply; it is shown in your settlement figure before you confirm.
• Your instalments are fixed and shown on the schedule, so you can plan cash flow precisely.

If your real figures ever look different from what you expected, do not work from a generic example — open your KIS, or sign in to your portal, and check the actual numbers. And if anything still does not add up, contact us and we will talk it through.

See also: The 14-day withdrawal right (voluntary), Common mistakes to avoid with business borrowing, Choosing between Credicorp Flex and Credicorp Slice.

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If you have borrowed from us before, you will know our live product as a one-time loan: a fixed sum, drawn down once, repaid on a set schedule. We are also introducing a second kind of product — a running-credit facility — that works differently. Here is the difference between the two, so you know what each is for. One important note first: the running-credit facility is being introduced and is not necessarily available to everyone yet, so for what is actually on offer to you right now, see our business loans page.

The one-time loan

Our established product is a short-term Business Bridging Loan under a Business Loan Agreement. The shape of it is simple: you agree a fixed amount, you receive that whole amount in a single drawdown to the company's bank account, and you repay it over an agreed term — between 14 and 84 days — in weekly or fortnightly instalments. When you have repaid it, the agreement is complete. If you want to borrow again, that is a fresh decision and a new agreement.

This structure suits a specific, one-off need: a known gap to bridge, a single bill to cover, a particular opportunity with a clear cost. You know exactly what you are borrowing, exactly what it will cost, and exactly when it ends — all set out on your Key Information Sheet (KIS) before you sign.

The running-credit facility

A running-credit facility — governed by a Revolving Credit Facility Agreement rather than a Business Loan Agreement — works more like a flexible limit than a single lump. The defining feature is that you can draw, repay and redraw:

• You are approved up to an agreed credit limit.
• You draw what you need, when you need it, rather than taking the whole amount at once.
• As you repay, that headroom becomes available to draw again, up to the limit.

That makes it suited to recurring or unpredictable short-term needs — where the amount and timing vary — rather than a single fixed requirement. Instead of taking out a new loan each time, you draw against the facility as the need arises.

The key differences at a glance

Put simply:

• Drawdown: one-time loan = a single drawdown of a fixed sum; facility = multiple draws up to a limit.
• Repayment: loan = a fixed schedule to a defined end date; facility = you repay and can redraw the available headroom.
• The contract: a Business Loan Agreement for the one-time loan; a Revolving Credit Facility Agreement for the facility.
• Best for: loan = a known one-off need; facility = recurring or variable short-term needs.

Because these are genuinely different contracts with different mechanics, it is worth understanding which one you are entering. Our guide to loan agreement vs facility agreement compares the two documents directly and is the right place to go before signing either.

Which is right for you

Neither product is better in the abstract — they answer different questions. If your company has a single, defined need with a clear end, a one-time loan gives you certainty: fixed amount, fixed cost, fixed end date. If your company has a pattern of short, recurring needs and wants flexibility rather than repeated applications, a running-credit facility may fit better, once it is available to you.

Whichever you consider, the same discipline applies: read the KIS, understand the total cost, and only borrow what the company can afford to repay. And because the running-credit facility is still being rolled out, always check https://credicorp.co.uk/business-loans/ for the products, amounts, terms and costs currently offered to your company before you make a decision. For a side-by-side comparison of the revolving facility, see Flex vs a one-off Business Loan.

See also: The 14-day withdrawal right (voluntary), Common mistakes to avoid with business borrowing, Choosing between Credicorp Flex and Credicorp Slice.

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Your customer portal is the home for everything to do with your loan: your balance, your repayment schedule, your documents and your account details, all in one secure place. Here is how to sign in, how to add our app to your phone so you can reach it in a tap, and what you can actually do once you are in.

Signing in

To get started, go to the customer portal and sign in with the credentials linked to your account — the email address we hold for you and your password. If it is your first visit, follow the prompts to set your password and confirm your identity. If you have forgotten your password, use the reset link on the sign-in screen; we will send a secure reset to your registered email rather than ever asking you for your password directly.

A quick security note: we will never phone, text or email you asking you to read out your password or a one-time code. If anyone does, it is not us. Always reach the portal by typing the address yourself or using your saved app, not by following a link in an unexpected message.

Add the app to your phone

For day-to-day access, the easiest route on a mobile is our progressive web app. It works straight from your phone's browser — there is nothing to download from an app store. Open the app page on your phone, then use your browser's "Add to Home Screen" option (in the share menu on iPhone, or the browser menu on Android). That places a Credicorp icon on your home screen that opens straight into your account, so you can check a balance or a payment date in seconds without hunting for the web address.

Because it is a web app, it always loads the latest version, it does not take up much space, and it keeps you signed in securely on your own device. You can of course still use the full portal from a desktop or laptop whenever you prefer a bigger screen.

What you can do once you are in

The portal and app give you self-service control over the things you are most likely to need:

• See your current balance and exactly what is left to pay.
• View your full repayment schedule and upcoming collection dates.
• Download your loan documents and statements.
• Check the bank details and contact information we hold for you.
• Find the right place to ask for a settlement figure or to get in touch.

Having this to hand means you are never in the dark about where your loan stands, and you do not have to call us for routine information.

If you cannot get in

If sign-in is not working, first check you are using the email address registered to the account and that your password reset has come through (look in spam too). If you have changed email or lost access to your registered address, contact us so we can verify you and update your details securely — we will not simply switch a contact address on request without checking it is really you.

The portal is designed to save you time and give you confidence that the numbers you are looking at are the real, current ones. Sign in once, add the app to your home screen, and you will have your loan at your fingertips for the rest of its term.

See also: How to download your statements, How do I reset my password?, Where is your mobile app?.

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A short-term business loan does its job when each repayment lands on a day your company can comfortably cover it. The borrowing is for a genuine business purpose and you know the schedule in advance, so the real skill is not the borrowing — it is fitting the repayments around the money actually coming in. This guide is a practical, step-by-step way to do that: map the schedule against expected income, keep a small buffer, line the collection day up with your cash-in days, and know exactly what to do early if a month starts to look tight. The aim is simple — pay on time, every time, without it ever catching you out.

Start with your schedule, not your hopes

Your repayment schedule is fixed and written into your Business Loan Agreement before you sign — every collection date and amount is set out in advance, and repeated on each statement. That certainty is the thing to build around. Pull up the schedule (your signed-in portal and your Key Information Sheet are the source of truth for your exact dates) and write each instalment into the same place you track everything else the company has to pay — your cash-flow forecast, a spreadsheet, or your accounting software. If you are not sure which dates apply to you, when is my payment due explains where to find them and how weekends and bank holidays are treated.

How to budget each repayment in

The method below works whether your loan repays weekly, fortnightly or monthly. Take it in order — each step builds on the one before it.

1. Map every repayment against expected income. For each collection date on your schedule, look at what the company reliably expects to receive in the days just before it — invoices due, card takings, retainers, scheduled transfers. The test for each instalment is plain: is there enough cleared income landing before this date to cover it, on top of the other bills due that week? Do this for the whole term, not just the next payment, so a quiet month later on does not take you by surprise.
2. Build a buffer so one late payer does not derail you. Income rarely arrives exactly when promised, so never plan for a repayment to be covered by a single invoice landing on the day. Keep a small cash reserve — even a few instalments' worth — sitting in the account the Direct Debit collects from, so a customer who pays a week late does not turn into a missed payment for you. A buffer is the difference between a wobble you absorb quietly and a failed collection that costs a fee.
3. Line the collection day up with your cash-in days. If your money tends to arrive at a particular point in the month — payroll-day takings, a monthly retainer, the day a big customer always settles — it is far easier to pay if the collection falls just after that, not just before. You do not have to work the date out under pressure: if the scheduled day sits awkwardly against your cash flow, tell us, ideally before you sign or otherwise before the collection falls due, and we can often move it. When is my payment due covers how the dates are set.
4. Keep the collection account funded and watch it. Most loans collect by Direct Debit, so the single most important habit is making sure cleared funds are sitting in that account before each date — not in transit, not in a different account you mean to move over later. Check the account a couple of days ahead of every collection while the term runs. If you spot a shortfall early, you have time to do something about it; if you only notice on the day, you usually do not.
5. Look ahead, and act early the moment a month looks tight. Because you mapped the whole term in step one, you will usually see a difficult month coming weeks before it arrives — a seasonal dip, a contract ending, a big outgoing landing the same week as an instalment. That early warning is the whole point. Do not wait to see whether it works itself out: a payment you can see coming and tell us about in advance is far easier to handle than one that fails. The next section is exactly what to do.

If a month looks tight: talk to us before a miss

The most useful thing you can ever do is contact us before a payment is missed. A failed Direct Debit can cost your company a bank fee and triggers our missed-payment fee, so heading one off saves money as well as worry — and asking for help never counts against your company's future eligibility. We would far rather agree a workable plan than chase a missed payment. The quickest routes are the request forms on our main site:

• Request a payment extension — move a due date when you just need a little more time.
• Set up a payment arrangement — agree a manageable plan across several collections.
• Ask for a hardship variation — a payment freeze, reduced payments or a longer plan if the company is genuinely struggling.

We review requests within one working day, and Direct Debit collections are paused while a request is open, so getting in early genuinely buys you breathing room. For the full picture of the options and how each one works, see help if you are struggling to make a payment.

Get free, independent advice if money is tight across the board

If the pressure is wider than this one loan — several creditors, a tax bill, or the company's overall position — independent advice is often worth more than working each creditor out one at a time, and the leading services are genuinely free. Business Debtline (businessdebtline.org, 0800 197 6026) gives free, independent advice to the self-employed and small businesses. If it is a director's own personal finances under strain rather than the company's, free help is available from StepChange, Citizens Advice, National Debtline and the government-backed MoneyHelper. You do not need our permission to seek advice, and a paid debt firm will not get you a better outcome than a free one. For the full list and what "free" really means, see where can I get free, independent debt advice in the UK.

Why this is worth the effort

Short-term borrowing is built for speed and short use, so the cheapest way to use it well is to pay it down on schedule without stress. A schedule mapped against real income, a modest buffer, a collection day that suits your cash flow, and the habit of acting early all add up to the same thing: repayments that land softly instead of landing hard. And if your reason for worrying is that the schedule itself feels too tight, do not wait — contact us first, because there is almost always a better path than scrambling, and in genuine hardship we will work with you.

See also: The 14-day withdrawal right (voluntary), Common mistakes to avoid with business borrowing, Choosing between Credicorp Flex and Credicorp Slice.

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Whether you need a statement for your accountant, your bookkeeping, a finance application or your own records, getting one is quick. The fastest route is self-service through your customer portal; if you would rather we send one, or you need a particular format, you can request it through our forms. Both routes are below.

Download it yourself in the portal

The simplest way to get a statement is to download it directly. Sign in to your customer portal, go to the statements or documents area, choose the period you need, and download. The file is generated on demand and reflects your account as it stands, so the figures are current. You can download as many times as you like, at any time of day, without waiting for us to send anything.

Self-service has real advantages: there is no delay, you control exactly which dates the statement covers, and you can re-download a fresh copy whenever your records need updating. For most needs — handing figures to your accountant, reconciling your books, keeping a tidy paper trail — this is all you will need.

What a statement shows

Your statement sets out the activity on your loan account so the position is clear at a glance. Typically that includes:

• The original amount advanced and the agreed term.
• Each repayment received, with its date.
• Interest applied in line with your agreement.
• The current outstanding balance.

Because we charge simple interest with the figures fixed up front, the statement should line up neatly with the repayment schedule on your Key Information Sheet (KIS) and your Business Loan Agreement. If something does not match what you expected, the statement is the document to check it against — and then to raise with us if it still looks off.

Request a statement another way

If you cannot get into the portal, need a statement covering an unusual period, or require it in a specific format, you can ask us to produce one. Use the Request a Statement of Account form — tell us the account, the period you need and where to send it. We will verify the request is genuinely from you before we send anything containing your financial information, which protects your company's data.

This route is also the right one if you need an accessible format, such as large print, or if a third party such as your accountant needs to receive a copy directly with your authority. Just be specific about what you need so we can get it right first time.

Keeping statements safe

Statements contain information about your company's borrowing, so treat them like any other financial record: store them securely, and be careful who you share them with. We will only ever send your statement to you through verified, secure means — we will not email sensitive documents to an address we have not confirmed belongs to you, and we will never ask you to "confirm" your full security details to release a statement. If you receive a statement you did not request, or a message pressuring you to act on one, contact us to check it is genuine.

In short: for speed, download it yourself in the portal; for anything out of the ordinary, ask through our forms and we will sort it out securely.

See also: How often are statements issued, and can I get one on request?, How to download your loan documents, How to access your customer portal.

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When Credicorp makes your company an offer, that document is the agreement that will govern the facility. It is worth reading it slowly and fully before anyone with authority accepts on the company's behalf. Nothing on this help site overrides what your own offer says.

What to look for

• The rate shown in your offer and how it is expressed.
• Your agreed term and the repayment schedule that flows from it.
• Any fees, when they apply, and whether they are one-off or recurring.
• How and when interest accrues for the product you have chosen.
• What happens if a payment is missed or late.

Confirm the basics are right

Check the legal name of the borrowing entity, the company registration number, and the registered office. The borrower must be a UK limited company or LLP, and the borrowing must be for business purposes. Make sure the figures and dates match what you discussed.

Who can accept

Acceptance should come from someone authorised to bind the company. The loan is to the company, and we do not take personal guarantees from directors.

If something is unclear

Ask before you sign, not after. We would always rather answer a question up front. Remember that as an exempt business lender we sit outside the FCA consumer-credit regime, so the Financial Ombudsman Service and FSCS do not apply to this agreement.

See also: Forecasting what your borrowing will cost over the term, Common mistakes to avoid with business borrowing, Should you repay early or keep the facility running?.

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Reconciling your facility statements against your own books is a small monthly task that pays off all year. It catches errors early, keeps your management accounts accurate and makes year end far less painful.

Work statement by statement

When each statement becomes available in your customer portal, download it and compare it line by line with what your accounting system records for the same period. Match drawdowns, repayments, interest and any fees against your entries.

What to check each time

• Every drawdown on the statement appears in your books, and vice versa.
• Each repayment collected matches a corresponding entry.
• Interest and fees are coded the way your accountant expects.
• The closing balance on the statement agrees with your ledger.

When something does not match

Investigate promptly while the period is fresh. Most discrepancies are simple timing differences or a missed entry on your side. If you believe a statement is wrong, contact us with the specific lines in question rather than waiting.

Keep the trail

File each reconciled statement so you can evidence the position later. Credicorp lends only to UK limited companies and LLPs, and as an exempt business lender we sit outside the FCA consumer-credit regime, so the Financial Ombudsman Service and FSCS do not apply. Clean records are your own best protection.

See also: Should I borrow to take a supplier's early-payment discount?, Matching the borrowing to the need it funds, What is an early repayment charge?.

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Business borrowing is straightforward to account for when the paperwork is kept tidy as you go. Leaving it until year end usually means hunting for documents and reconstructing what happened. A few minutes of housekeeping each month avoids that.

What to keep

• Your signed offer document, which sets out the terms of the facility.
• Statements for every period, downloaded from your customer portal.
• A record of each drawdown and what it was used for.
• Confirmation of repayments as they are collected.

Why it matters

Interest, fees and balances need to land correctly in your accounts. Clear records make it easy for your accountant to split the elements your offer describes and to present the liability accurately. They also help if you are ever asked to evidence how funds were used for business purposes.

Make it routine

Download each statement when it becomes available rather than in a batch later. Reconcile repayments against your bank feed promptly so nothing drifts. If you use bookkeeping software, set up a consistent way to code facility transactions.

Credicorp lends only to UK limited companies and LLPs. As an exempt business lender, we sit outside the FCA consumer-credit regime, so the Financial Ombudsman Service and FSCS do not apply, which makes your own clear records all the more worthwhile.

See also: Keeping records of your complaint, Should you repay early or keep the facility running? and Can someone else pay on behalf of the company?.

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Over the life of a facility, a company's details often change. A new registered office, a change of directors, updated contact people, or a new bank account are all routine, but they only stay routine if we know about them. Keeping your records current with us prevents avoidable confusion.

What to keep us informed about

• Changes to your company's registered office or trading address.
• New contact people responsible for the facility.
• Changes to the bank account we collect from.
• Significant changes to the company's structure or status.

Why it matters

Statements, notices and important communications need to reach the right place and the right person. If a payment instruction points at a closed account, or a notice goes to someone who has left, problems can build quietly. Current details keep everything visible.

How to update

Many details can be updated through your customer portal, including bank details, which we treat as a controlled, verified change. For anything you cannot change yourself, contact us directly.

Credicorp lends only to UK limited companies and LLPs. The facility is to your company, and we do not take personal guarantees from directors. As an exempt business lender, we sit outside the FCA consumer-credit regime, so the Financial Ombudsman Service and FSCS do not apply.

See also: What to do if your cash flow tightens during the term, Matching the borrowing to the need it funds, Forecasting what your borrowing will cost over the term.

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As your company grows, more than one person may touch the borrowing facility. Setting up clear access and simple internal controls keeps things both efficient and safe, so the convenience of self-service never becomes a weak point.

Decide who needs access, and to what

Not everyone who works in finance needs the ability to do everything. Separate the people who view statements and reconcile from the people authorised to request drawdowns or change bank details. Match portal access to what each role genuinely needs.

Sensible internal controls

• Keep an up-to-date list of who has access and why.
• Remove access promptly when someone changes role or leaves.
• Treat changes to bank details as a controlled, verified step.
• Review the access list periodically rather than never.

Authorisation still matters

Accepting an offer, and other commitments that bind the company, should come from someone authorised to do so. Day-to-day administration can be delegated, but the company should always know who can commit it.

Credicorp lends only to UK limited companies and LLPs for business purposes. The facility is to the company, and we do not take personal guarantees from directors. As an exempt business lender, we are outside the FCA consumer-credit regime, so the Financial Ombudsman Service and FSCS do not apply.

See also: Managing who can access your company account, Keeping your company details current with us during the term, Keeping clean records of your facility for your accountant.

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One of the most useful habits in managing business borrowing well is matching the facility to the thing it funds. Borrowing that outlives the value it created tends to feel like a drag; borrowing that is too short for the need it serves creates avoidable pressure on cash flow.

The principle

Short-lived needs, such as covering a seasonal stock build or bridging a known receivable, usually sit best against shorter, self-clearing borrowing. Longer-lived investments that generate value over an extended period can reasonably be supported over a longer term. The aim is for the repayments to be serviced by the cash the spending helps produce.

Putting it into practice

• Ask what the money buys, and roughly how long that benefit lasts.
• Ask when the cash to repay it will actually arrive.
• Choose the term in your offer with both answers in mind.

How our products fit

Credicorp Flex tends to suit recurring, shorter-cycle working-capital needs, while Credicorp Slice suits a defined purpose. The rate and term you receive are set out in your own offer.

Credicorp lends only to UK limited companies and LLPs for business purposes. Because we are an exempt business lender, the Financial Ombudsman Service and FSCS do not apply, so reading your agreement carefully matters all the more.

See also: Working capital vs growth finance: matching finance to purpose, Common mistakes to avoid with business borrowing and Keeping your company details current with us during the term.

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If your company's revenue rises and falls predictably across the year, borrowing can smooth the troughs so you can stock up, staff up or pay suppliers ahead of the peak. Used with a plan, it turns a lumpy cash position into a manageable one.

Map the year first

Before you draw anything, sketch out when cash typically tightens and when it recovers. The clearer that map, the easier it is to time a drawdown for when you genuinely need it and to plan repayments for when income arrives.

Borrow into the build, repay out of the peak

• Draw to fund the preparation that the busy period requires.
• Schedule repayments to land when your seasonal income comes through.
• Aim to bring the balance down before the next quiet stretch begins.

Why Flex often suits seasonality

Because Credicorp Flex is revolving, it can mirror a seasonal cycle, rising as you prepare and falling as you collect. Credicorp Slice may suit a one-off seasonal investment instead. The rate and term you receive are set out in your own offer.

Credicorp lends only to UK limited companies and LLPs for business purposes, and the loan is to the company, not its directors. As an exempt business lender, we are outside the FCA consumer-credit regime, so the Financial Ombudsman Service and FSCS do not apply.

See also: How to budget loan repayments into your cash flow, Choosing between Credicorp Flex and Credicorp Slice, How do I manage a seasonal dip in trading?.

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The closing stretch of a facility is worth a moment of planning rather than letting it simply arrive. A tidy ending leaves your company's record clean and keeps your future options open.

Know your closing position

Check your offer and recent statements so you understand exactly what brings the balance to zero and by when. Confirm the final repayment date and amount, and make sure the funding account will be ready on the day.

Plan for what follows

• Decide whether your company will have a continuing need afterwards.
• If you might want to borrow again, see our guidance on top-up eligibility.
• Give yourself time so any next step is a considered choice, not a rushed one.

Close it cleanly

Once the final payment clears, download your final statement and file it with your records. Reconcile it against your books so the liability closes out accurately in your accounts. A clean close is the easiest thing for your accountant and for any future review.

Keep the relationship warm

A facility that ends well is the best foundation for the next one. Credicorp lends only to UK limited companies and LLPs for business purposes, and the loan is to the company, not its directors. As an exempt business lender, we are outside the FCA consumer-credit regime, so the Financial Ombudsman Service and FSCS do not apply.

See also: What is a maturity date?, Keeping clean records of your facility for your accountant, What happens at the end of a Flex term.

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A rollover is what happens when, instead of repaying a loan at the end of its term, the borrowing is extended into a new period. It can sound like breathing room, and occasionally it is — but it also adds cost, and leaning on it repeatedly is a warning sign rather than a solution. We allow rollovers only within a cap, and we would much rather help you find a sustainable path than let a short-term loan quietly become a long-term burden. Here is what a rollover is, why we limit it, and what to do instead if you are struggling.

What a rollover actually is

Our loans are short by design — 14 to 84 days. A rollover means the loan is not cleared on schedule and is instead carried forward into a further term. The principal keeps working, and because borrowing continues, more interest accrues over the extended period. In other words, rolling over does not make the debt cheaper or smaller; it keeps you borrowing for longer and therefore paying more in total. That can be a reasonable, deliberate choice in a one-off cash-flow pinch — but only with eyes open to the extra cost.

Why we cap rollovers

We deliberately limit how many times a loan can be rolled over. We do this because a short-term product that rolls again and again stops being short-term: the costs stack up, and the borrower can end up paying far more than the original advance while never actually reducing what they owe. Capping rollovers is a guard rail. It protects your company from drifting into a cycle of extensions, and it forces a more honest conversation at the point where rolling over again would do more harm than good. We are not trying to trap you in repeat borrowing — quite the opposite.

If you are struggling, use hardship instead

This is the part that matters most. If you are thinking about a rollover because the company genuinely cannot make the repayment, a rollover is usually the wrong answer. Extending the loan adds cost on top of a problem you are already finding hard — it can make next month worse. The right route is to tell us early and use our support process.

We have a proper framework for this. Read our hardship and forbearance process to see how we can help — which may include adjusting your arrangements in a way that actually eases the pressure rather than compounding it. And if a payment is coming up that you know you cannot meet, do not wait for it to fail: what to do if you can't make a payment walks you through the immediate steps. Contacting us early almost always leads to better options than a rollover does.

Free, independent help

You do not have to work it out alone, and you do not have to rely only on us. Free, independent debt advice for businesses is available from:

• Business Debtline — businessdebtline.org, 0800 197 6026.
• The FSB — fsb.org.uk.
• HMRC Time to Pay for tax arrears — gov.uk.
• A licensed insolvency practitioner — r3.org.uk.

To sum up: a rollover extends a loan and adds cost, we cap how often it can be used on purpose, and it is not a substitute for dealing with real difficulty. If you can comfortably repay, repay — ideally early. If you cannot, talk to us about hardship support rather than rolling over. That is the route that actually helps.

See also: The 14-day withdrawal right (voluntary), Common mistakes to avoid with business borrowing, Choosing between Credicorp Flex and Credicorp Slice.

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The companies that find business borrowing easiest are usually the ones that treat repayments as a fixed, scheduled part of their finance routine rather than a monthly decision. A small amount of setup makes the whole facility quieter to manage.

Build it into the calendar

Note your repayment dates in whatever your team already uses to track obligations, and set a reminder a few days ahead. That buffer gives you time to make sure the funds are in the right account before the date arrives.

Keep the funding account ready

• Make sure the bank account we collect from holds enough on each due date.
• If your bank details change, update them in good time through your customer portal.
• Reconcile each repayment against your statement so your records stay clean.

Give one person ownership

Even in a small company, it helps to make one named person responsible for watching the facility. They do not have to do everything, but a single owner means nothing slips between roles.

If a payment will be tight

Tell us early rather than letting a payment fail quietly. We can have a constructive conversation far more easily before a due date than after. The facility is to your company, and we do not take personal guarantees from directors, but staying ahead of problems protects the relationship and the company's record.

See also: Keeping your company details current with us during the term, How to budget loan repayments into your cash flow, Keeping clean records of your facility for your accountant.

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A credit facility limit is not set in stone. It is calibrated to your business at a point in time, and as your trading volume, revenue, and track record evolve, the limit that was right at origination may no longer reflect what you actually need — or what you can comfortably service.

Signs your limit may be too low

• You are regularly hitting the ceiling of your facility and having to delay purchases or payments as a result.
• You have turned down a contract or delayed a decision because the facility headroom was not sufficient to support it.
• Your average monthly revenue has grown materially — by 50% or more — since the facility was agreed.
• You find yourself juggling multiple short-term arrangements because one facility is not large enough, creating unnecessary administrative complexity.

Signs your limit may be too high

A limit that is much larger than you ever use is not inherently a problem, but it can be a prompt to ask whether you are paying for access you do not need, or whether the facility is sitting unused because the original business case for it has changed. There is no virtue in a large limit for its own sake.

How to approach a limit review

Gather twelve months of bank statements and management accounts that show the gap between your peak and trough balances — this gives us a clear picture of the actual cashflow cycle you are managing. A specific narrative also helps: if you want to increase a limit to support a new contract or a new supplier relationship, saying so directly is more persuasive than a general request. We will assess what your business can comfortably service, not just what you have asked for.

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: Keeping business borrowing proportionate to revenue, How to make the most of a revolving credit facility.

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When your company has spare cash, you face a genuine trade-off: use it to reduce or clear borrowing, or keep it available for the business. There is no single right answer, but a clear way of thinking about it makes the decision easier to defend.

Weigh the cost against the use

On one side is the cost of carrying the borrowing, as set out in your offer. On the other is what that cash could do if you held it, whether that is funding growth, covering a known upcoming cost, or simply keeping a comfortable buffer. The better choice is usually whichever produces more value for the company.

Questions to ask

• Do you have a near-term need that this cash is the natural home for?
• How comfortable is your cash buffer if you part with it?
• What does early repayment actually save, per your agreement?

Check the mechanics first

Before repaying early, confirm how it works for your product and what, if anything, it saves. Your offer is the governing document, and our early-repayment guidance explains the process. Flex and Slice can behave differently here.

Credicorp lends only to UK limited companies and LLPs for business purposes. As an exempt business lender, we are outside the FCA consumer-credit regime, so the Financial Ombudsman Service and FSCS do not apply.

See also: Should I borrow to take a supplier's early-payment discount?, What is an early repayment charge (ERC)? and Common mistakes to avoid with business borrowing.

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When you take out a loan with us, you have a 14-day window in which you can change your mind and withdraw from the agreement. We want to be clear about what this is from the outset: it is a voluntary policy we choose to offer, not a statutory consumer cooling-off right. Lending to a company is outside FCA consumer-credit regulation, so the consumer cancellation rules do not apply here — but we think a short reflection period is fair, so we give you one anyway.

Why it is voluntary, not statutory

The 14-day cooling-off period that many people associate with personal borrowing comes from consumer law. Our loans are made to UK limited companies and LLPs for business purposes, and a company is not an individual under Article 60B FSMA RAO 2001, so that consumer regime does not cover this product. That means the withdrawal window described here exists because we offer it as a matter of policy, and it is governed by the terms of your Business Loan Agreement — not because any statute requires it. We would rather be straight about that than imply a legal protection that is not in play.

When the window runs

The 14-day period starts the day after you sign your Business Loan Agreement and runs for fourteen calendar days. You can withdraw at any point inside that window. Withdrawing means unwinding the loan: you repay the principal we advanced, and the agreement is treated as not having gone ahead. Because we charge simple interest, the cost of using the window is small — you repay the principal plus the interest accrued to that day — and it is explained to you when you ask. Withdrawal is not an early settlement, so the early-settlement charge does not apply: there is no penalty for changing your mind.

How to use it

If you decide to withdraw within the 14 days:

• Tell us promptly, in writing where possible, so the date is clear.
• Be ready to repay the amount that was advanced to the company.
• Ask us for the figure you need to return — we will set out exactly what to pay and how.

If instead the loan has served its purpose and you simply want to clear it ahead of schedule outside this window, that is also fine and usually saves you money. The mechanics are the same kind of thing — you ask for a settlement figure and pay it — and we cover that route in early repayment: how to do it and what you save. Many borrowers find that the more useful option once they are past the first couple of weeks.

Know what you signed

The withdrawal window, your repayment schedule and the total cost of credit are all summarised before you commit on your Key Information Sheet (KIS). If you want a refresher on what that pre-contract summary contains and what protections and terms it sets out, read what the Key Information Sheet covers. Read it alongside this page and you will have both your obligations and your options in one view.

A final reassurance: using the withdrawal window is not held against you, and it does not affect any future application on its own. We offer it precisely so that you can take the loan with confidence, knowing there is a short, no-penalty path back if your circumstances change in the first two weeks. If you are weighing it up, contact us — we would far rather talk it through than have you feel locked in.

See also: Common mistakes to avoid with business borrowing, Choosing between Credicorp Flex and Credicorp Slice, Should you repay early or keep the facility running?.

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If your company has borrowed from us before and is wondering whether it can borrow again, the honest answer is: possibly, but it is never automatic. A top-up — a further advance once you have a loan running, or a new loan after one has finished — is treated as a fresh lending decision every time. Here is what that means, what helps your chances, and how to go about it.

A top-up is a new decision, not an extension

It is tempting to think of a top-up as just adding more to an existing loan, like topping up a tank. We do not see it that way, and neither should you. Each time you ask to borrow more, we make a new assessment: a new affordability check on the company and a new Key Information Sheet (KIS) setting out the amount, term and full cost of the new borrowing. You are entering a new agreement on its own terms, with its own figures, not simply enlarging an old one. That is fairer to you, because it means each decision reflects the company's situation at the time — and it means you always see the cost before you commit.

What we look at

Because it is a fresh decision, we assess a top-up much as we assess any application. We look at the company: its turnover, its business bank-account history, and its business credit file with agencies such as Experian Business, Creditsafe and Equifax Business. We are checking that the company can comfortably afford the new repayments on top of anything it is already paying. We do not assess the director's personal income, and we do not record the borrowing on the director's personal consumer credit file. Our wider guide to what we look at when we decide sets this out in full, and it applies to top-ups just as it does to first applications.

Good standing helps

While nothing is guaranteed, being a borrower in good standing genuinely helps. That means:

• Repayments made on time, with Direct Debits collecting successfully.
• The company's finances in good shape since the last decision.
• Borrowing that stays within what the business can afford.

A clean track record with us is a useful signal, but it sits alongside the current affordability picture — it does not override it. If the company's circumstances have weakened, a strong history will not, on its own, make unaffordable borrowing affordable, and we will not pretend otherwise.

How and when to ask

If you want to explore a top-up, the best starting point is to make sure your current loan is on track and your details are up to date, then approach us about borrowing again. We will run the new checks and, if we can lend, issue a new KIS for you to review. Take the same care you took the first time: read the new figures, check the new schedule, and only proceed if the company can afford it.

It is also worth re-reading after you sign the Business Loan Agreement, because a top-up means signing a fresh agreement with fresh obligations — the same care that applied the first time applies again. For the current amounts, terms and costs on offer, see https://credicorp.co.uk/business-loans/.

One last point of caution. If the reason you want to borrow again is that you are struggling to repay what you already owe, a top-up is usually the wrong tool — adding borrowing to cover borrowing tends to make things harder, not easier. In that situation, talk to us about support instead. But where a healthy company simply has a new, affordable need, a top-up can be a sensible next step — assessed fresh, and on clear terms.

See also: The 14-day withdrawal right (voluntary), Common mistakes to avoid with business borrowing, Choosing between Credicorp Flex and Credicorp Slice.

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Sometimes a company needs to change the bank account it uses for its loan — perhaps you have switched business banks, opened a new account, or restructured how the business manages its money. Updating the account we collect repayments from (or, where relevant, pay funds to) is straightforward, but because it touches your money we treat it carefully. Here is how to make the change safely, and why we verify it.

How to request a change

To update the bank details we hold, make the request using the Update Your Contact Details form. Tell us which account you want to change — the collection account, the payout account, or both — and give us the new account details. Submitting it in writing this way gives us a clear, dated record and is more secure than a verbal change over the phone.

Please do not simply cancel your existing Direct Debit and assume the new account will take over. Cancelling a Direct Debit without a new instruction in place can cause a missed collection, which can affect your account standing. Let us set up the change properly so collections continue without a gap.

Why we verify changes

We will always verify a request to change your bank details before we act on it. That means confirming that the request genuinely comes from an authorised person at your company, and checking the new account belongs to the business. This is not us being difficult — it is one of the most important protections we offer. Bank-detail changes are a classic target for fraud, because if a criminal can redirect a payment or impersonate you, real money moves. Verifying the change keeps your company's funds where they belong.

Our verification when we speak to you is explained in how do you verify it is really me on the phone. The same principle applies to any change of details: we confirm identity first, then act.

Never act on an unfamiliar request

This protection runs both ways, and it is worth being blunt about it. We will never phone, text or email you out of the blue telling you our bank details have changed and that you must now send your repayment somewhere new. Genuine collection details do not change on a surprise message. If you ever receive a request like that — supposedly from us — asking you to pay a new account, treat it as a scam:

• Do not pay or change anything based on the message.
• Contact us through the channels you already know to check.
• Report it if you believe it is fraudulent.

Equally, if anyone contacts you claiming to be a supplier, a director or a colleague and asks you to change where company money goes, verify it independently before acting. The same caution that protects your loan account protects your whole business.

After the change

Once we have verified and applied your new details, future collections will use the updated account from the next eligible date, and you will be able to see the change reflected on your account. If a collection is due very soon, ask us whether it will come from the old or new account so there is no confusion. As always, keep enough cleared funds in the correct account on each collection date.

Changing your bank details is a routine thing to need — just do it through our forms, expect us to verify it, and stay alert to anyone who tries to rush you. For the full guide including Direct Debit update steps, see how to update your business bank account details. If in doubt about any message that claims to be from us, stop and check with us first.

See also: The 14-day withdrawal right (voluntary), Common mistakes to avoid with business borrowing, Choosing between Credicorp Flex and Credicorp Slice.

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Credicorp Flex gives your company revolving access to funds, which is genuinely useful for smoothing the gaps in a trading cycle. The flexibility that makes it valuable can also make it easy to lean on permanently, so a little self-discipline keeps the facility working for you rather than the other way round.

Treat it as a buffer, not a baseline

The healthiest pattern with revolving borrowing is one where the balance rises and falls. If the balance only ever climbs, that is a signal worth examining, because it may mean the facility is filling a structural gap rather than a temporary one.

Practical habits

• Draw what the specific need requires, not the maximum available.
• Repay actively when cash comes in, rather than waiting for a due date.
• Review the balance against your trading cycle every so often.

Watch the trend, not just the day

A single month's balance tells you little. The shape over several months tells you whether the facility is doing its job. Your statements and customer portal give you the view you need.

Credicorp lends only to UK limited companies and LLPs for business purposes. Interest accrues as set out in your offer. Because we are an exempt business lender, the Financial Ombudsman Service and FSCS do not apply.

See also: Choosing between Credicorp Flex and Credicorp Slice, Common mistakes to avoid with business borrowing, What to do if your cash flow tightens during the term.

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Overtrading is a surprisingly common problem for growing businesses: the order book is full, revenue is rising, yet the current account is permanently under strain. It happens because growth consumes cash faster than profit generates it — and borrowing can mask the problem rather than solve it if used without a plan.

Early warning signs to watch for

• You are consistently using the full limit of any credit facility, with little or no headroom between draws.
• Debtor days are lengthening — customers are taking longer to pay, but you are still committing to new supplier costs.
• You are taking on new contracts before completing and collecting payment on existing ones.
• Profit margins are thinning as you discount to win volume, while fixed costs grow to support that volume.
• You rely on a new borrowing draw to meet payroll or a supplier payment that was supposed to be covered by trading income.

Why borrowing alone does not fix overtrading

A credit facility bridges timing gaps — it is not a substitute for working capital generated by the business itself. If your model requires permanent, maximum-utilisation borrowing to function, the underlying cashflow needs structural attention: tighter debtor terms, better invoice timing, or a review of whether growth pace is sustainable. A Credicorp Flex facility is well suited to bridging genuine timing gaps; it is less suited to funding an operation that is structurally undercapitalised.

What to do if you recognise the signs

Start with a cashflow forecast, not a profit-and-loss view. Map the next 13 weeks of expected receipts and payments in detail. If the picture shows repeated shortfalls, consider whether slower, better-margined growth is more sustainable than faster, cash-hungry growth. Your accountant or a business adviser can help you work through the numbers objectively.

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: Managing repayments alongside monthly cashflow, Keeping business borrowing proportionate to revenue.

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Even well-run companies hit a stretch where cash is tighter than planned. A late customer, a quiet month or an unexpected cost can all put pressure on a repayment date. The single most useful thing you can do is act early, while you still have options.

Look ahead, not just at today

As soon as you can see a due date that might be difficult, map the next few weeks of expected money in and out. Knowing the shape of the squeeze lets you tell whether it is a short blip or something more structural, and that shapes what you do next.

Talk to us early

• Contact us before a payment is due, not after it has failed.
• Be straight about what has changed and what you expect.
• Bring your latest view of the company's cash position.

A conversation ahead of a due date is far more productive than one after a missed payment. We would always rather work with you while there is room to manoeuvre.

What we will not do

The facility is to your company, and we do not take personal guarantees from directors. That said, missed payments can affect the company's record and the relationship, so staying ahead of them protects you. As an exempt business lender we sit outside the FCA consumer-credit regime, so the Financial Ombudsman Service and FSCS do not apply.

See also: What if my company's difficulty is permanent, not temporary?, Keeping your company details current with us during the term, Can I pause payments if my company hits a cash-flow gap?.

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Refinancing means replacing an existing borrowing arrangement with a new one, usually to improve terms, consolidate multiple debts, or free up cashflow at a difficult moment. It is a legitimate tool, but it works best when used proactively rather than reactively.

Good reasons to refinance

• Your business has grown and your profile has improved. If revenue, profitability, and trading history are materially stronger than when you first borrowed, you may qualify for better terms. Refinancing to reflect your current position rather than the one you were in at origination is sensible housekeeping.
• You have multiple short-term facilities creating administrative complexity. Consolidating two or three separate arrangements into one can simplify repayment scheduling and reduce the risk of a missed date through oversight.
• A project is taking longer to generate returns than planned. If a term loan was sized around a completion date that has moved, refinancing to extend the term — rather than missing repayments — is the right conversation to have early.

Reasons to be cautious

Refinancing to buy time on a business that is structurally struggling is usually a postponement, not a solution. If each refinance is larger than the last and the underlying cashflow has not improved, the debt is growing faster than the business's ability to service it. In that situation, an honest conversation with your accountant about the fundamentals is more useful than another facility.

How to approach a refinancing conversation

Come prepared with up-to-date management accounts, a clear statement of what the existing facility was used for, and a specific explanation of what the new arrangement would achieve. Lenders — including us — make better decisions and faster ones when the purpose is clear.

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: Keeping business borrowing proportionate to revenue, How to make the most of a revolving credit facility.

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