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What triggers acceleration
Loan agreements list events of default: missed payments, a covenant breach, insolvency, or false information at application. Any of these can let the lender demand the whole balance immediately.
Staying in control
Keep payments current, understand your covenants, and be accurate at application. If a breach is looming, tell the lender before it happens — a waiver or amendment is often possible when you engage early.
What it means for you
Credicorp lends to your company, not to you personally, and takes no personal guarantee. See business loans or apply online.
Frequently asked questions
Can a lender call in a loan I am paying on time?
Not on a whim. Acceleration needs an event of default under the agreement — a missed payment, covenant breach, insolvency or misrepresentation.
What is loan acceleration?
It is the lender declaring the full outstanding balance immediately due, triggered by a breach of the loan terms.
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What actually happens if my company defaults on a business loan?
On default the lender contacts you, may add default interest, reports it to the credit bureaux and can…
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What do I do if I cannot make a business loan repayment?
Contact the lender before the payment is due, explain the position and propose a realistic plan — lenders far…
Read →Does an early repayment charge apply to overpayments?
It depends on the agreement — many allow a free overpayment allowance each year, charging only above it,…
Read →Funding for UK limited companies
Credicorp lends to your company, not to you personally — short-term working capital with no personal guarantee. See what your business could access.