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What it means
Drawdown is when agreed finance becomes cash in your account. A term loan is usually drawn in one lump; a revolving facility is drawn in parts, whenever you need funds.
Why it matters for your company
Having a facility approved is not the same as drawing it. On a revolving facility you pay only on the drawn balance, so drawing when you actually need the money — not before — keeps the cost down.
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 approval the same as drawdown?
No. Approval means the finance is available; drawdown is when you take it. On a facility, the interest clock only starts on what you have drawn.
Can I draw a loan in stages?
A term loan is usually drawn in one lump, but a revolving facility lets you draw in parts as needed, which reduces cost by charging only on the drawn balance.
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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.