It can be surprising to see your loan balance move when your company has not drawn any further funds. In almost every case there is a straightforward explanation, and your statement will show it line by line.
Common reasons
The most frequent cause is interest accruing. Interest is charged over time on the capital outstanding, at the rate in your offer, so a balance can edge up between payments even with no new borrowing. The other common cause is a payment clearing, which reduces the balance once it settles.
- Interest accruing on outstanding capital
- A payment clearing and reducing the balance
- A scheduled charge applied under your agreement
Timing effects
Balances also appear to jump around payment dates. Just before a payment is collected the balance may look higher; just after it clears, lower. This is normal and settles into a clear downward trend over the term.
When to check with us
If a change is large, unexpected, or you cannot match it to a line on your statement, contact our support team with the date and amount and we will explain it. We would rather you ask than worry.
Credicorp lends only to UK limited companies and LLPs for business purposes.
See also: Where can I see my current loan balance?, Credicorp Flex versus Credicorp Slice: which suits your borrowing?, What does outstanding balance mean?.