# What happens at the end of a Bridging Loan term?

What happens when a Credicorp Business Bridging Loan reaches its term date — repayment, what to do if not fully repaid, extensions, and the consequences of non-repayment.

**Site:** [creditcorp.co.uk/learn/what-happens-at-term-end/](https://creditcorp.co.uk/learn/what-happens-at-term-end/)

Creditcorp is the growing name for the Credicorp group. Credicorp Limited is the lender behind it — short-term working capital for incorporated UK businesses. No personal guarantee on any product. This page is a guide; applications go to [credicorp.co.uk](https://credicorp.co.uk/).

## Contents

- What happens on the repayment date
- What if the company cannot repay in full?
- The consequences of not repaying
- How to handle repayment at term end
- Term end questions
- Related guides
- If the term date is approaching — plan now.

## Step-by-step guide

**Step 1: Plan the repayment well before the term date**

Several days before the repayment date, confirm that the necessary funds will be in the company's nominated bank account on the due date. Check the exact repayment amount — principal plus accrued interest to the term date — in the loan documentation or at credicorp.co.uk. Repaying a few days early is always an option and saves the interest for those days.

**Step 2: If repayment is not possible, contact Credicorp early**

If the company cannot repay in full by the term date, contact Credicorp at credicorp.co.uk as early as possible — before the date, not after. Early communication gives the most options: extension, partial repayment, or a restructured plan. Waiting until after the default removes most of these options and creates additional risk to the company's credit record.

**Step 3: Understand the consequences before deciding not to act**

A missed repayment without communication can lead to: continuing daily interest on the outstanding balance, formal default, and potentially a CCJ against the company. The CCJ stays on the company's credit record for six years and makes future borrowing significantly harder. The director is not personally affected (no personal guarantee), but the company is.

**Step 4: After repayment, confirm closure and consider next steps**

Once the loan is repaid in full, confirm with Credicorp that the account has closed and the balance is zero. If the company has a future borrowing need, it can apply again at credicorp.co.uk — a clean repayment history strengthens the next application. This site is the brand front door and does not take applications.

## Frequently asked questions

**What happens on the repayment date of a Bridging Loan?**

On the agreed repayment date, the outstanding principal plus any accrued interest and fees is due in full. Credicorp will typically attempt to collect the repayment from the company's nominated account. If the full amount is in the account, the facility closes — confirmation is issued and the balance clears to zero. The company is no longer a borrower and can apply for a new facility if needed.

**What if the company cannot repay in full on the term date?**

Contact Credicorp at credicorp.co.uk as soon as possible — before the term date if possible. Lenders generally prefer early communication over a missed repayment with no notice. Options may include a short extension of the term, a restructured repayment plan, or partial repayment with a revised schedule for the remainder. What is available depends on the company's position at the time. Contacting the lender proactively is always better than missing the date without warning.

**Can a Bridging Loan be extended?**

Extension is at the lender's discretion and is assessed at the time of the request. It is not guaranteed, but it is an option that Credicorp can consider. A company that has been communicating well throughout the term, has a clear reason for needing more time, and has a credible plan for repayment is in a better position to request an extension than one that misses the date without contact. Contact Credicorp directly at credicorp.co.uk.

**What are the consequences of not repaying on time?**

Failing to repay by the agreed date is a default. Interest continues to accrue on the outstanding balance. The lender may take steps to enforce the debt — including registering a County Court Judgement (CCJ) against the company, which would appear on the company's credit record for six years. This does not affect the director personally (there is no personal guarantee on Credicorp products), but it affects the company's future ability to borrow from any lender.

**Will the 100% cost cap still apply if the loan runs over its term date?**

The 100% total cost cap applies to the total charges on the facility — the interest and fees can never exceed 100% of the amount originally borrowed, regardless of how long the loan runs. At the standard Credicorp daily rate of 0.25%/day, this ceiling is not reached until around 400 days. If a loan runs over term because of a default situation, the cap continues to apply — the company will never owe more in total charges than the original principal.

## About Creditcorp / Credicorp

Credicorp Limited is a UK short-term business lender. Products: Business Bridging Loan (14–84 days, 0.25%/day), Credicorp Flex (revolving credit, 0.25%/day on drawn balance), Credicorp Slice (invoice-backed, flat fee). Incorporated UK companies and LLPs only. No personal guarantee. No debenture. Same-day decisions. Total charges capped at 100% of principal.

- [Apply or get a quote](https://credicorp.co.uk/)
- [Products overview](https://credicorp.co.uk/products/)
- [Eligibility](https://credicorp.co.uk/eligibility/)
- [All learn guides](https://creditcorp.co.uk/learn/)