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What can usually be changed
Depending on the agreement, you may be able to extend the term (lowering the monthly payment), restructure the schedule, or agree a short payment holiday. Extending the term reduces the payment but raises total interest.
Why timing matters
Lenders are far more flexible with a borrower who reaches out early than one who has already missed payments. If cash flow is tightening, contact them before it becomes a default — good lenders prefer a workable plan.
What it means for you
Talk to your lender at the first sign of pressure. Credicorp lends to your company, not to you personally, and takes no personal guarantee. See business loans or apply online.
Frequently asked questions
Can I extend my loan term to lower payments?
Often yes, subject to the lender agreeing. It reduces the monthly payment and improves affordability, at the cost of more total interest over the longer term.
Will asking to change repayments hurt me?
Asking early, before any missed payment, is usually viewed positively. It shows you are managing the situation. Waiting until after a default narrows your options considerably.
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How does borrowing more later change my repayments?
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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.