Credicorp

Will I be charged a fee if I miss a payment?

The fees and charges that can apply to your account — including anything relating to missed payments — are set out in your Business Loan Agreement. We will never apply a charge that is not in your agreement.

Whatever happens to your account, the total cost of credit is capped at 100% of the original principal, so charges can never push the amount you repay above twice what you borrowed.

If you are worried about missing a payment, contact us first. Agreeing a payment extension or arrangement in advance is almost always better than letting a payment fail — and if money is tight, see what to do if you are struggling to pay.

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Payment extension The fees and charges that can apply to your account — including anything relating to missed payments — are set out in your Business Loan Agreement. We will never apply a charge that is not in your agreement. What to do if you are struggling to pay The fees and charges that can apply to your account — including anything relating to missed payments — are set out in your Business Loan Agreement. We will never apply a charge that is not in your agreement. Can I pay my business loan off early in the UK? Yes. You can pay a UK business loan off early at any time. Request a settlement figure and we will confirm the amount needed, including any… How long does a loan payment take to clear in the UK? How long a UK business loan payment takes to clear: card payments usually show the same working day; Direct Debit and bank transfers can take up to three… What does APR mean on a UK business loan, and how is the cost shown? What APR means on a UK business loan: APR is a regulated consumer-credit measure. For business lending we show the total cost of credit and a simple… How can I make a payment on my UK business loan? How to make a payment on a UK business loan: online through the portal, by debit card over the phone, or by Direct Debit so payments are taken… Can I top up or extend my existing business loan in the UK? A business loan top up or term extension is a new lending decision, not an automatic change. We assess the company's affordability afresh and, if… What happens if my Direct Debit fails on a UK business loan? A failed Direct Debit on a UK business loan is treated as a missed payment. Contact us early to arrange a replacement and prevent fees or an impact on…

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