If your company has an active Credicorp facility and needs additional funds, you can request a top-up or further draw without applying from scratch. The process is lighter-touch than a new application because your company is already on file, but it does involve a credit refresh to confirm your current position.
Flex facility: drawing against available headroom
If your facility is a Credicorp Flex revolving account, drawing further funds is straightforward provided your outstanding balance is below your approved limit. Log in to the client portal, navigate to your facility, and submit a draw request for the amount needed. Funds are typically released within one working day once the request is approved. The draw increases your outstanding balance and therefore your daily accrual from that point forward.
Term loan top-up
For a fixed-term facility, a top-up is treated as an incremental credit decision. Your company's current trading data, Companies House filings, and repayment conduct on the existing loan are all reviewed. If approved, the additional amount is disbursed and a revised repayment schedule is issued. As an illustrative example (not a quote), a company mid-way through a £40,000 term loan might be approved for a further £20,000 under a blended new schedule — the exact terms depend on the refresh decision. Early repayment conduct is viewed positively at this stage.
What to prepare before requesting
- Up-to-date management accounts or recent bank statements (typically the last three months).
- A brief note on the purpose of the additional funds — this supports faster processing.
- Confirmation that the company's registered details and directors have not changed since original application.
We lend only to UK limited companies and LLPs, and the loan is to the company with no director personal guarantee required as standard. As business finance outside the consumer-credit regime, it is not covered by the Financial Ombudsman Service or FSCS.
See also: What is Credicorp Flex and how does it accrue?, How does early repayment work?.