To close your Creditcorp Flex facility, you first need to repay any outstanding drawn balance in full. Once the balance reaches zero, contact the Creditcorp 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?.