One of the points of a revolving facility is speed: once Credicorp Flex is set up, you should not have to reapply each time you need cash. You request a drawing against your available limit and the funds are sent to your nominated business account.
What affects the timing
- Whether your facility is already approved and active. The first setup takes longer than later drawings.
- The time of day you request. Requests made within banking hours usually move faster than late-evening ones.
- Your bank's processing and payment-clearing windows, which sit outside our control.
- Whether we need to confirm anything with you before releasing funds.
How to keep it smooth
Keep your nominated business bank details up to date, make sure the person requesting has authority on the account, and respond promptly if our team asks for confirmation. Requesting in good time rather than at the last possible moment gives the most headroom against bank delays.
A note on certainty
Because Flex is business lending outside the consumer-credit regime, the usual consumer protections such as the Financial Ombudsman Service and FSCS do not apply. If a drawing has not arrived when you expected, contact our support team and we will trace it with you.
See also: What can I use a Flex drawing for?, Can I leave my Flex facility open but unused? and Common mistakes to avoid with a Flex facility.