When will my first payment be taken after I'm funded?

When a loan is drawn down, the first repayment date is set relative to the funding date — the day cleared funds reach the company's account. You do not have to work it out or guess: the precise date is calculated for you, written into your Business Loan Agreement, and shown on your repayment schedule before anything is signed.

How the schedule works across the term

Credicorp business loans run over a short term, anywhere from 14 to 84 days. Across that term your schedule sets out every collection: the date of each one, the amount due, and how it reduces the balance. Whether the loan repays in a single payment at the end of the term or in instalments along the way, the full picture is laid out for you in advance.

Crucially, none of this is a surprise sprung after funding. Every date and every amount is presented on the schedule before you sign — if a figure or a date is not clear to you, that is the moment to ask, not after the money has landed. Once you sign, the schedule you saw is the schedule that runs.

If the first payment date does not suit your cash flow

Short-term business borrowing is about timing, so it matters that the first collection lands when the company can comfortably meet it. If the proposed date sits awkwardly — say it falls just before a big customer payment is due in, or before payroll clears — tell us. The best time is before you sign, while the schedule can still be shaped around the company's expected cash flow.

1. Before you sign. Raise it during the offer stage. We can often align the first collection with the company's expected income rather than the calendar default.
2. After funding, before the date falls due. If the timing only becomes a problem later, contact us ahead of the first collection. Use the Payment Extension Request form so we can look at moving the date or agreeing a short extension. We can usually help when we hear from you early — what we cannot do is unwind a collection we were never told about.

How collection works on the day

Most loans repay by Direct Debit on the dates shown in your schedule, collected automatically so you do not have to remember to act. You can also pay by debit card if you prefer to send a payment yourself — for example to clear a collection early or to top up after a shortfall. Card payments are normally applied the same working day, while Direct Debit and bank transfers can take longer to settle, so timing matters around a due date.

For the full breakdown of each method and how quickly it lands, see how long a payment takes to clear. If you are paying close to the deadline, a same-day debit card payment is the surest way to have it applied in time.

If funds are not available on the first collection

If a Direct Debit cannot be collected because the funds are not there on the day, it is treated as a missed payment until it is settled — there is nothing unusual or alarming about that, and the path back is straightforward. What matters most is talking to us early.

• If you know in advance the first collection will be tight, contact us before the date using the Payment Extension form — we can often move the date so the Direct Debit does not fail at all.
• If a collection has already failed, see what happens if my Direct Debit fails for exactly what we do next and how to clear it.
• If the company's wider position means keeping up will be a real struggle — not just a one-off timing issue — read I am struggling to pay, what should I do?. We can look at a payment arrangement, a short extension or a longer-term variation.

See also: Can I change the date my payment is taken?, Can I make a one-off extra payment without changing my Direct Debit?, Can I pay a Flex drawing from a different card or account?.