Payments

How do payments work on a Credicorp Flex facility?

Credicorp Flex is a revolving facility: you draw funds when you need them and repay as your cash flow allows, within an agreed limit. That means payments work a little differently from a fixed-term loan.

Repaying what you have drawn

You repay against what you have actually drawn, not a fixed instalment on a fixed total. As you repay, headroom frees up for you to draw again if needed. Collections reflect your usage, so they can vary period to period. See Flex and Slice payment differences and how Flex and Slice repayments differ.

Why the collection amount can change

Because a Flex collection depends on your drawings and the facility's charging, the amount can differ from one collection to the next — which is a normal feature of the product, not an error. See why did my Direct Debit amount change and how Flex charges are structured.

Reading it on your statement

A Flex statement records the drawings, repayments and charges for the period. See reading a Credicorp Flex statement.

Credicorp lends to companies rather than to you personally, so this is business finance outside the consumer-credit regime. That does not change the practical steps below.

See also: Flex and Slice payment differences, How Flex and Slice repayments differ, Reading a Credicorp Flex statement.

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