People often compare Credicorp Flex with a business overdraft because both let a company draw funds flexibly rather than taking one fixed lump. They share that revolving feel, but there are meaningful differences worth understanding.
What they have in common
- You draw what you need against an approved limit rather than a single lump sum.
- Repaying restores your available headroom to draw again.
- Both suit short-term, fluctuating cash needs rather than long-term capital.
Where they differ
An overdraft is tied to your bank account and is usually repayable on demand, which can make it less predictable if the bank reviews it. Flex is a standalone facility from Credicorp with terms set out in your offer, separate from your day-to-day banking. That separation can give clearer terms and keep your bank arrangements distinct from your borrowing.
Which to choose
If you already have a reliable overdraft that meets your needs, you may not need Flex. If you want a dedicated business facility with defined terms, or your bank has reduced your overdraft, Flex can be a useful alternative or complement. Remember Flex is business lending outside the consumer-credit regime, so FOS and FSCS do not apply, and compare the rate in your offer against your overdraft cost.
See also: Can my company use Flex and Slice together?, How quickly can I access Flex funds after a drawing?, How do repayments differ between Credicorp Flex and Credicorp Slice?.