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The consequences
Missing a payment can bring a late fee, a mark on your credit file, and, if it persists, formal recovery or a claim on any security. The sooner you address it, the smaller the damage.
Why communication helps
Most lenders will work with a borrower who reaches out — a restructure, a short arrangement, an extended term. See can I change my repayments. Silence is what turns a wobble into a default.
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
Will one missed payment ruin my credit?
A single missed payment has an effect but is recoverable, especially if you resolve it quickly and communicate. A pattern of missed payments does far more damage.
What should I do if I'll miss a payment?
Contact the lender before the payment is due, not after. Most will offer a restructure or temporary arrangement to a borrower who communicates early.
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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.