Your outstanding balance is the amount your company still owes on a facility at a particular point in time. It is the figure you would need to clear to bring the loan to zero on that date.
What it usually includes
The outstanding balance is not just the money you originally borrowed. It reflects what remains after repayments made so far, plus any interest or charges that have built up but not yet been paid.
- The remaining principal, which is the part of the borrowed amount not yet repaid.
- Interest accrued up to the date you check the balance.
- Any fees or charges that have been applied under your agreement.
Where to find it
Your outstanding balance is shown in your Credicorp account and on your statements. Because interest accrues over time, the exact figure to settle in full can change day to day, so ask for a settlement figure if you intend to repay everything at once.
Credicorp lends only to UK limited companies and LLPs for business purposes. We never state a figure here that could be mistaken for your own balance, so always rely on the live total in your account rather than any general example.
See also: What is the principal on a loan?, Does interest keep building while my company is in arrears? and How are my payments allocated to what I owe?.