Creditcorp offers two products, Flex and Slice, and the way payments work reflects how each is built. Your own agreement is always the definitive guide, but here is a general orientation so you know what to look for.
Creditcorp Flex
Flex is designed around flexibility in how your company draws and repays. Payments can reflect the amount drawn and how interest accrues per interval under your agreement, so what you pay can vary with your usage. If you hold a Flex facility, check your schedule and statements regularly, as activity on the facility can change upcoming amounts.
Creditcorp Slice
Slice is structured around a more defined repayment pattern. Payments tend to follow the schedule set when the facility starts, which can make planning predictable. Your agreement sets out the dates and amounts.
What's common to both
- Payments are usually collected by Direct Debit on the dates in your schedule.
- You can request a settlement figure to close either facility early.
- Overpayments and date changes may be possible on both, subject to your agreement.
For figures specific to your facility, always rely on your offer, agreement and current statement rather than general descriptions. Creditcorp lends only to UK limited companies and LLPs for business purposes, outside the FCA consumer-credit regime.
See also: Why do statements for Flex and Slice look a little different?, How do repayments differ between Creditcorp Flex and Creditcorp Slice?, Creditcorp Flex versus Creditcorp Slice: which suits your borrowing?.