Because Credicorp Flex revolves, repayments do not run to a single fixed schedule the way a one-time loan does. Instead they follow a rhythm tied to what you have drawn and a regular monthly cycle date. Once you can see how those two things interact, the facility is easy to manage day to day. This page is about the repayment rhythm — for the cost of a drawing, the linked pages cover the actual charging.
The pieces that set your repayment
- Your drawn balance — the total you have taken and not yet repaid. Interest accrues on this, not on your whole limit. See how interest is charged on a Flex facility.
- Your cycle date — a fixed monthly point at which we look at your balance, add up the interest accrued that month, and set the minimum due for the cycle.
- Your minimum payment — calculated from the drawn balance at the cycle date. See how the Flex minimum payment is calculated.
How a single repayment is applied
Each cycle your minimum is split in a set order: the interest accrued during that cycle is cleared first, and whatever is left of the payment then reduces the principal. Because the principal falls, the interest in the next cycle is calculated on a smaller balance, so the minimum scales down as the balance does. Pay more than the minimum and a larger share goes straight against the principal, which shortens the run and lowers the total interest. There is no penalty for paying extra — see whether you can pay off a Flex drawing early.
The repay-and-redraw rhythm
The point of a revolving facility is that repayment frees the limit back up. As you repay, your drawn balance falls and the headroom you have repaid becomes available to draw again — without reapplying. So the natural rhythm is: draw to cover a gap, repay as trading income comes in, and have the headroom ready for the next gap. For the mechanics of that cycle, see how repaying Flex frees up your limit again.
What changes when you draw again
Drawing again mid-cycle does not reset your cycle date or create a separate repayment schedule. It increases your single drawn balance, so interest from that point accrues on the higher amount, and your next minimum — set at the upcoming cycle date — reflects the larger balance. Each drawing keeps its own cost ceiling, since the total-cost cap applies per drawing, but your monthly minimum is worked out from the combined balance you are carrying. In practice that means you can draw whenever you need to and still have one predictable monthly figure to plan around.
Staying ahead of it
The rhythm works best when repayments come from trading income rather than from drawing again to cover an earlier drawing. If your balance never really falls between cycles, that is a useful signal that the facility may be carrying more than short-term cash flow, and it is worth a conversation about whether a different structure fits the business better. You can see your exact balance, interest and next cycle date any time in your customer portal, or get in touch if you want to talk a repayment plan through.
Credicorp Flex is lending to a limited company or LLP for business purposes, not consumer credit. It sits outside FCA consumer-credit regulation under Article 60C of the FSMA Regulated Activities Order, and is not covered by the Financial Ombudsman Service or the FSCS.
See also: Can my company use Flex and Slice together?, Can I leave my Flex facility open but unused?, Can I have several Flex drawings running at the same time?.