Credicorp Flex is designed to flex with your trading. As your company repays capital, it can restore available headroom under your limit, which you may then draw again. This makes Flex useful for businesses with uneven cash flow rather than a single one-off need.
What redrawing means
Redrawing is taking funds again from a Flex facility after you have repaid some of what you previously drew, up to your agreed limit. It is not new borrowing in the sense of a fresh application; it uses the limit you already hold.
- Repaying capital can free up headroom
- You can draw again up to your agreed limit
- Interest reflects what is drawn at any given time
What to check first
Available headroom is shown on your dashboard. Redraws are subject to your facility remaining in good standing and to the terms in your agreement, and we may review availability if your circumstances change. Slice does not work this way; it is a fixed advance.
Keeping control
Because Flex lets you draw repeatedly, it pays to draw only what your company needs at the time. Drawing less keeps interest lower, since it is charged on what you have actually drawn.
Credicorp lends only to UK limited companies and LLPs for business purposes.
See also: How much of my Flex limit is still available?, How repaying Flex frees up your limit again, How drawdown works on your Credicorp loan.