Because Credicorp Flex is granted to your company rather than to an individual, the people who can apply for it, request drawings, and manage repayments are those with authority to act on the company's behalf.
Who typically has authority
- Directors of a limited company.
- Designated members of an LLP.
- Anyone the company has formally authorised to operate the facility and the nominated bank account.
Keeping authority clear
It is worth being clear internally about who can request a drawing and who signs off larger amounts. Even though no personal guarantee is involved, drawings commit the company, so a simple internal control, such as requiring two people to agree on bigger draws, protects the business from mistakes or misuse.
Keeping us updated
If your directors or authorised people change, let us know so our records match who can genuinely act for the company. Keeping authorised contacts current also means we can reach the right person quickly if a repayment or a drawing needs attention. If you are unsure who in your business should hold this responsibility, our support team can talk it through.
See also: Can I manage more than one facility from a single account?, Using Flex to manage supplier and stock costs and What happens at the end of a Flex term.