Once your company has cleared its Creditcorp loan in full, you should expect clear confirmation that the facility is closed. Keeping that record is useful for your bookkeeping and for any future application.
What happens at closure
After your final payment clears and the balance reaches zero, we mark the facility as repaid and update your account dashboard to reflect it. We confirm the closure to you so there is no doubt the obligation has ended.
- Final payment clears and the balance reaches zero
- The dashboard updates to show the facility repaid
- We confirm closure to you
What to keep
Retain your closure confirmation and final statement with your company records. They evidence that the loan is settled, which can help your accountant and supports any later borrowing.
Flex facilities
With Creditcorp Flex, reaching a zero balance does not always mean the facility is closed; it may remain open with headroom available unless you ask us to close it. If you want a Flex facility formally closed, tell our team and we will arrange it and confirm in writing.
Creditcorp lends only to UK limited companies and LLPs; as an exempt lender, the Financial Ombudsman Service and FSCS do not apply.
See also: How do I update my company's bank details?, How do I change the bank account my repayments come from?, How drawdown works on your Creditcorp loan.