When your facility is drawn, Creditcorp sets a fixed monthly repayment schedule for your company. Each instalment covers both the capital element and the cost of finance, so the total amount your company pays each month stays the same throughout the term — no surprises, no floating rate adjustments mid-term.
How instalments are calculated
Your repayment amount is agreed before funds are released. It is based on the facility size, the agreed term length, and the applicable cost of finance. As an illustrative example (not a quote), a company drawing £50,000 over 24 months might see instalments of around £2,400–£2,600 per month — the exact figure is set in your facility agreement. There is no variable interest component that can change after drawdown.
When does the first payment leave the account?
The first instalment is typically collected on the same calendar day each month, starting approximately 30 days after drawdown. Your facility agreement will state the exact collection date. Creditcorp collects by direct debit from the company bank account registered at application. If a collection date falls on a weekend or bank holiday, it moves to the next working day.
What happens if a payment is missed?
If a direct debit fails, Creditcorp will contact your company promptly. A short grace period is built in and we will attempt re-presentation. Persistent arrears may trigger a default clause and additional charges as set out in your facility agreement. If your company is experiencing difficulty, contact us before a payment is missed — early communication consistently leads to better outcomes.
We lend only to UK limited companies and LLPs, and the loan is to the company with no director personal guarantee required as standard. As business finance outside the consumer-credit regime, it is not covered by the Financial Ombudsman Service or FSCS.
See also: How does early repayment work?, How is my Creditcorp loan statement structured?.