™
Paying it back early,
and why it pays.
Short-term credit is at its best when it is cleared the moment the cash arrives. This guide explains how early settlement works, the conditional early-settlement charge that may apply on the Business Bridging Loan, how the daily charge rewards paying ahead, how the 100% cost cap protects you, and the refund Slice can offer. Throughout, the company borrows, never you personally.
With some borrowing, paying off early is punished — there is an exit fee, or you owe the interest as if you had run the full term. Short company credit through Credicorp works the other way: the sooner you clear it, the less it costs, and nothing stands in the way of doing so.
Creditcorp is the growing name for the Credicorp group, and Credicorp Limited is the lender behind it. This page is a guide, not an application — repaying early, in full or in part, is done with the lender on its own site, credicorp.co.uk. The figures below are the lender's published product facts, which can change, so check the live pages before you commit.
As ever, the borrower is the company — a UK private limited company (Ltd), LLP or PLC — not the director who signs. No personal guarantee, no charge over a home, no personal credit check on a director. This is not a personal loan, a payday loan or sole-trader finance.
Early settlement — how it works
The most important thing to say plainly: early settlement is always permitted, and it usually saves you money.
If the company's cash comes in ahead of schedule — a customer pays sooner, a season lands well, a quiet patch ends — it can request a settlement figure and clear the balance. The point of a short-term facility is to bridge a gap, so closing it the moment the gap closes is exactly how it is meant to be used.
On the Business Bridging Loan, an early-settlement charge of up to 28 days’ interest may apply. It is calculated from your own loan’s daily rate — never invented — and it is the only charge for settling early. We waive it automatically in many cases: if the company is in financial difficulty, if settling early would not leave you better off, or in recognition of a consistent record of good standing. The figure you see in your settlement quote already reflects any waiver. Even after any charge, settling early usually means paying less than the original total.
Why paying ahead lowers the cost
On the Bridging Loan and Flex, the maths is on your side.
Interest on a Business Bridging Loan is 0.25% a day on the outstanding principal, and on Credicorp Flex it is 0.25% a day on the drawn balance. The word that matters is outstanding: the charge is on what you still owe today, not on what you originally borrowed.
So every repayment does two things at once. It shrinks the balance, and it shrinks the daily interest that balance attracts from then on. Pay a chunk off early and you are not just shortening the term — you are cutting the daily cost for every remaining day. Clear the balance entirely and the daily interest stops the same day. You can see the effect for your own numbers in the Bridging Loan cost calculator and the Flex facility cost calculator.
How the 100% cost cap works alongside
The cap and early repayment protect different things — together they cover both.
Every Credicorp product caps the total cost of credit at 100% of the amount borrowed. However the term runs, the company can never repay more than twice the principal in charges. That is the backstop for the worst case — a balance left to run.
Early repayment is the everyday case, and it usually keeps you far below that ceiling, because you stop interest accruing the moment you settle. In other words: the cap bounds the maximum, and paying ahead lowers the actual. We give the ceiling its own full explainer in the 100% cost cap.
Slice is different — the unused-fee refund
A flat fee instead of daily interest changes how early settlement helps.
How Slice charges
Credicorp Slice splits a supplier bill of £50 to £2,000 into three or four instalments over up to eight weeks, with the supplier paid in full today. Instead of daily interest, it uses a single flat fee of 6% of the bill, set out up front. There is no daily charge to switch off, so the saving comes from a different place.
What early settlement gives you
Where a Slice plan is settled early, the lender can refund the unused part of the flat fee — so paying ahead is still rewarded, just through a refund rather than by stopping a daily charge. The exact terms of any refund sit with the lender; confirm them on the Slice page before you commit. Like the others, Slice caps total cost at 100% of the amount.
A worked example
An illustration, not a real customer and not a quote — just to show the shape of it.
A small services company, trading as a UK limited company, takes a Business Bridging Loan to cover a payroll run while it waits on a confirmed client payment. The plan is a short fixed term, repaid in fortnightly instalments, with interest accruing at 0.25% a day on the outstanding principal.
Halfway through, the client pays earlier than expected. The company asks for a settlement figure — which shows the balance, interest accrued to the settlement date, and any early-settlement charge (or waiver) — and clears the remaining balance. From that day the daily interest stops, so the company pays for the days it actually used the money and no more — well inside the 100% cap, and with nothing left open. The agreement was with the company, so no personal guarantee was given and no charge sat over anyone’s home.
Early repayment questions
The questions directors ask most. For anything specific to your account, the lender's team are at credicorp.co.uk.
Is there a charge for repaying early?
Early settlement is always permitted on all Credicorp short-term products. On the Business Bridging Loan, an early-settlement charge of up to 28 days' interest may apply — it is waived in many cases, and the exact amount is always shown in your settlement figure before you confirm. Settling early still usually leaves you paying less than the original total, because you stop the remaining daily interest from accruing.
Why does paying ahead save money on a Bridging Loan or Flex?
Because interest is charged on the outstanding principal, day by day — not on the original amount. Every payment reduces the balance, and a smaller balance accrues less interest each day, so settling early genuinely lowers the total cost rather than just bringing the end date forward.
How does the 100% cost cap fit in?
The cap is a hard ceiling — the total cost of credit never exceeds 100% of the amount borrowed on any of the three products. Early repayment usually keeps you well below that ceiling, because you stop interest accruing. The cap protects the case where a balance runs the full term; paying ahead protects the everyday case.
Does Slice work the same way?
Slice is a little different. It uses a single flat fee of 6% rather than daily interest, so there is no daily charge to switch off. Instead, settling a Slice plan early can earn a refund of the unused part of the fee. The exact terms sit with the lender — check before you commit at credicorp.co.uk.
Where do I actually make an early repayment?
This site is the Creditcorp brand front door and does not handle accounts. Repaying early, in full or in part, is done through the lender — applying, drawing down and managing the account all happen on credicorp.co.uk.
Where to go next
To see how early repayment sits inside the wider picture, the 100% cost cap explains the ceiling in full, how business bridging loans work covers the product end to end, and a Bridging Loan vs a business overdraft weighs it against the alternative. The full terms for all three products are on the products page, and the whole series sits on the Learn hub.
Ready when you are
Applying, drawing down, repaying and managing your account all happen on the lender's site, credicorp.co.uk.