Some companies hold more than one facility with us at the same time — for example a Credicorp Flex alongside a Credicorp Slice, or a second loan taken out after the first. A common question is whether those balances can be rolled together so there is a single payment to manage instead of two.
The short answer is that we can sometimes restructure two facilities into one, but it is a new lending decision — not a switch we flip in the background. Combining balances replaces your existing agreements with a fresh one, so we assess the company's affordability again and, if approved, issue a new Key Information Sheet (KIS) setting out the single new amount, rate, payment and total payable before anything changes.
What combining facilities actually involves
Pulling two balances into one is a form of debt consolidation — here, within Credicorp rather than across different lenders. In practice it usually means settling the two existing facilities and writing a single new agreement that covers the combined amount. That has knock-on effects worth understanding:
- The product may change. Flex and Slice behave very differently — a flexible limit you can redraw against versus a fixed advance that reduces to zero. A combined facility sits on one set of terms, so the redraw behaviour of a Flex, for instance, would not carry across in the same way.
- The term and payment reset. A new agreement means a new schedule. The single payment might be lower or higher than the two it replaces, depending on the term we agree.
- The total cost can move. Spreading a combined balance over a longer term reduces each payment but leaves more borrowing in place for longer, which increases the total interest paid across the life of the facility. We show both figures — the new payment and the new total payable — so you can weigh them.
How to ask
Tell us what you would like to do using the General Support Enquiry form. Let us know which two facilities you mean and why you want to combine them — usually it is to simplify a single monthly outlay or to free up cashflow. We will look at the company's current position, both existing balances and any other borrowing it holds, and tell you whether a single restructured facility is appropriate.
If it is, the new figures arrive in a Key Information Sheet for you to consider. Nothing on either account changes until the new Business Loan Agreement is signed.
When it might not be the right move
Combining is not automatically cheaper. If one facility is close to being repaid, folding it into a longer new term can cost more overall — so it is worth checking where each balance stands first. Two related requests are often a better fit:
- If you simply want to clear one facility, ask for a settlement figure on that balance and pay it off, leaving the other running as it is.
- If you want to borrow more rather than reshuffle what you already owe, that is a further advance — see topping up or extending an existing loan.
Things we cannot do
- We cannot merge two facilities without the full affordability assessment and fresh disclosure — there is no quick "join these accounts" button.
- We cannot fold another lender's debt into a Credicorp facility as part of this.
- We cannot guarantee a combined facility will reduce your total cost; that depends entirely on the amount and term we agree.
As with any further borrowing, the responsible answer is sometimes to leave well-functioning facilities as they are. If the reason for asking is that the current payments have become hard to meet, please look first at the options in our struggling-to-pay article — a Payment Arrangement or Hardship Variation is built for that situation and may serve the company better than a restructure. Free, independent help with business money worries is available from Business Debtline; see our note on free debt advice in the UK.
Credicorp lends only to UK limited companies and LLPs for business purposes. Your own offer and agreement set the exact terms for whichever facilities you hold.
See also: Can I borrow again after repaying my loan?, Can I change my repayment date?, Can I pay my loan off early?.