Credicorp Flex — revolving business credit facility and drawdown line of credit for UK companies

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

1. Sign in to the customer portal.
2. Open the Flex panel — it shows your agreed limit, current drawn balance, and remaining headroom.
3. Type the amount you want to draw (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. 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.

The full mechanics — minimum repayments, the per-drawing cap, early repayment — are covered in our Credicorp Flex drawdowns & repayments guide. If you need help with a specific drawing, get in touch.

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.

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. Here is the short version:

• 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.

It is designed for companies whose cashflow is unpredictable — seasonal, project-driven, or with periodic supplier-deposit cycles. For a full walkthrough of how a drawing works day by day, see our Inside Credicorp Flex guide. To talk through whether a one-time loan or Flex fits better for your shape, the business loans calculator compares both.

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 to the customer portal.
2. Open the Flex panel and find the drawing you want to settle.
3. Click "Settle in full now". The portal shows the exact £ figure (drawn balance + any interest accrued to today).
4. 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.

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.