If your company is in genuine financial difficulty, the worst thing to do is go quiet. Tell us what is happening and we can look at forbearance, a set of supportive arrangements designed to help a business through a sustained problem rather than a one-off short month.
What support can look like
- A temporary reduction in scheduled payments while your business recovers.
- A revised arrangement spreading the balance differently over time.
- A short, agreed pause where appropriate.
The right option depends on what your company can realistically and sustainably afford, so we work with you rather than applying a one-size-fits-all answer.
What we'll ask about
To find a suitable arrangement we usually need a clear picture of your company's current position, including income, outgoings and the outlook for the coming months. The more openly you share this, the better we can tailor support.
How to start
Contact your account team and say plainly that the company is struggling. There is no benefit in waiting until a payment fails. Acting early gives us more room to help and keeps your facility in better standing.
Credicorp lends only to UK limited companies and LLPs for business purposes. As an exempt business lender we sit outside the FCA consumer-credit regime, so the Financial Ombudsman Service and FSCS do not apply, but we still aim to treat businesses in difficulty fairly and constructively.
See also: What forbearance options are available for business borrowers?, Can my company request a payment holiday?, What happens when payments resume after a pause?.