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How they differ
A term loan is a one-off lump sum with a set repayment plan. A facility is revolving — you draw what you need, repay, and reuse the headroom, charged only on the drawn balance.
Which to choose
For a defined one-off cost, a loan is simpler. For recurring or unpredictable needs, a facility flexes with you and can cost less because you pay only on usage. Match the product to the shape of the need.
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
Is a facility cheaper than a loan?
For an on-off need, often, because you pay only on the drawn balance. For a steady, fully drawn amount the cost is similar. It depends on how you use it.
Which should I choose?
A loan for a defined one-off cost, a facility for recurring or unpredictable needs. Many businesses use both, matched to their purposes.
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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.