You can arrange a standing order from your business bank account to cover scheduled repayments, but we recommend checking a few things first so the amounts and timing stay aligned with your agreement.
Standing order vs direct debit
Most Credicorp facilities collect repayments by direct debit, which pulls the exact contractual amount on the due date automatically. A standing order pushes a fixed sum you configure yourself. That means any change to your repayment schedule — for example a Flex draw altering your minimum payment — will not update the standing order automatically. You would need to amend it with your bank each time.
Setting up the standing order correctly
Use the sort code and account number shown in your facility agreement or your online account dashboard. Set the payment reference to your Credicorp account number so receipts are matched instantly. For a Business Loan, the amount and date are fixed for the term, making a standing order straightforward. For Credicorp Flex, the amount can vary month to month, so a standing order is only appropriate if you intend to overpay or pay a round figure above the minimum each period.
What happens if the standing order amount is wrong
If your standing order sends less than the amount due, the shortfall is treated the same as a partial payment — it will show as outstanding and may attract a late-payment notice. If it sends more, the excess is applied to your outstanding balance. Contact our team before changing any standing order instruction to avoid timing gaps.
We lend only to UK limited companies and LLPs, and the loan is to the company with no director personal guarantee. As business finance outside the consumer-credit regime, it is not covered by the Financial Ombudsman Service or FSCS.
See also: What happens if a repayment falls on a bank holiday?, Can I pay from a different bank account?, How do I get a payment receipt or confirmation?