Before you sign anything, Credicorp shows you a clear cost summary that sets out every charge in pounds and pence. You will always know exactly what you will pay back in total — not just an interest rate — so you can compare options on a like-for-like basis.
What the cost summary includes
- Business Loan: the fixed sum you borrow, the total repayment amount, and the difference between the two — your total cost of credit — expressed as a single figure.
- Credicorp Flex: because you draw and repay flexibly, we show the cost per draw and the daily or monthly cost of any balance outstanding, so you can model your own usage.
- Credicorp Slice: a single flat 6% fee on the bill value, shown as a cash amount alongside your four weekly instalments. No other charges apply.
No rate-only quoting
We do not quote you a rate and leave you to calculate the rest. Every offer letter and dashboard confirmation states the total repayment figure prominently. If you draw multiple times on a Flex facility, each draw confirmation repeats the same breakdown for that specific draw.
Where to find it after you have accepted
Your account dashboard shows your current outstanding balance, the total you have paid to date, and — for fixed-term Business Loans — the total remaining. You can download a full statement at any time. If anything is unclear, our support team can walk you through the numbers before you commit.
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: Are there any fees to apply for a Credicorp facility?, Are there any hidden charges?.