Late payment is one of the biggest pressures on UK limited companies. You have done the work, raised the invoice, and now you are waiting, sometimes well beyond your agreed terms. Meanwhile your own bills keep their original dates. The problem is rarely that the business is unprofitable; it is that your cash is sitting on someone else's balance sheet.
Using finance to stay operational
A Credicorp facility can release funds against the income you are expecting, so wages, suppliers and tax are paid on time while you chase what you are owed. You repay over your agreed term at the rate shown in your offer, ideally as the outstanding invoices come in.
Pair finance with collection discipline
- Send invoices the day the work completes, with clear due dates.
- Set automatic reminders before and after the due date.
- Know your rights on statutory interest for overdue commercial debts.
- Flag persistently late payers and review whether to keep extending them credit.
A short-term bridge, not a substitute
Finance helps you absorb the wait, but it does not fix a customer who never intends to pay. Treat it as breathing room while you tighten collections, not as a reason to ignore a bad debtor.
Credicorp lends only to UK limited companies and LLPs for business purposes, never to individuals or sole traders, and we take no personal guarantees. As an exempt lender we are outside the FCA consumer-credit regime, so the Financial Ombudsman Service and FSCS do not apply.
See also: Bridging while you wait for a grant or R&D tax credit, A big customer has paid us late — what does that mean for our loan?, Funding everyday working capital for your company.