2 min read
How to approach it
The moment you can see a repayment being hard, get in touch — don't wait for a missed payment. Explain the situation plainly, share the numbers, and propose something realistic: a short payment holiday, a temporary reduction, or restructuring to a longer term. Bring a cash-flow forecast so the lender can see your thinking.
Why openness works
Lenders would far rather keep a customer on a workable plan than force a default. Engaging early signals good faith and keeps options open; going quiet closes them. A responsible lender like Credicorp works with customers in genuine difficulty. Take free debt advice alongside so you go in informed — and never borrow more just to make a repayment.
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
When should I contact my lender about difficulty?
As early as possible — ideally before you miss a payment. Early contact keeps the most options open and signals good faith. Waiting until you've defaulted narrows what the lender can do to help.
Will telling my lender make things worse?
No — silence makes things worse. Lenders generally prefer a customer who engages openly and proposes a plan. It leads to better outcomes, like payment holidays or restructuring, than a default they discover themselves.
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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.