At the end of your loan term, the facility closes cleanly. The final scheduled payment clears the outstanding balance in full, and the direct debit mandate lapses. There is nothing further you need to do.
Confirmation of closure
Once the final payment has cleared, we will send a written confirmation to your registered email address stating that the loan has been repaid in full. Keep this for your company records — it confirms you have no outstanding balance with us.
No automatic rollover
Your loan does not roll over or renew automatically. If you need further funding after the term ends, you are free to make a fresh application. At that point we will reassess based on your company's current trading position, so a history of on-time repayments with us can only help.
Early closure
If you repay before the scheduled end date, the loan closes at that point rather than on the original end date. The confirmation of full repayment is issued in the same way. For details of how early repayment is calculated, see the separate article on repaying early.
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: Can I repay my Credicorp business loan early?, Can I top up my existing Credicorp business loan?.