Credicorp Flex is built to flex with your business, and its cost structure reflects that. Rather than a single fixed instalment plan, Flex lets you draw against your facility as you need to, and the charges relate to what you actually use.
How the cost is shaped
- Charges accrue in relation to the amounts you draw and the period for which they are outstanding.
- Any set-up cost, where one applies, is disclosed in your offer up front.
- Each accrual period is itemised on your statement so you can see how the cost built up.
Why this suits some businesses
If your need for funds rises and falls — seasonal trade, project-based work, fluctuating stock — paying in relation to what you draw can be more efficient than a flat schedule. You are not paying for headroom you are not using.
Where to read your figures
The exact basis for your Flex charges is in your offer and agreement. We avoid quoting figures here because they depend on your facility, your draws and your agreed term. Your statement then shows the cost as it actually accrues, period by period.
Remember
Flex is available to UK limited companies and LLPs for business purposes only, in the company's name, with no personal guarantee. It is exempt business lending, so the Financial Ombudsman Service and FSCS do not apply.
See also: How are Credicorp Slice charges structured?, What fees could apply to my Credicorp facility? and Can I leave my Flex facility open but unused?.