Introducing Credicorp Slice: pay a business bill in three or four instalments
Today we are introducing Credicorp Slice: a way for a UK limited company or limited liability partnership to spread the cost of a one-off bill across three or four equal instalments. We settle your supplier in full on the day Slice is approved; you repay us in equal instalments over the next three or four weeks.
What Slice is for
Slice is designed for a single, concrete bill that the company would otherwise pay in one go: a supplier invoice, a tax bill, a one-off repair, a deposit on equipment. It is not a credit facility you draw on for a stretch of months; it is a short, fixed schedule tied to a specific bill. Amounts run from £50 to £2,000. The fee is six per cent of the bill, flat — no compounding, no APR sleight of hand.
If you borrow £600 over four instalments, the fee is £36 and the total to repay is £636 across four weekly £159 instalments. The full schedule, the bill amount, the fee, and the total are all visible on the marketing page’s live calculator before you ever apply, and again on the Slice Agreement before you sign.
Why we built it
Customers told us, repeatedly, that the same monthly business loan does not fit every situation. Sometimes a supplier needs paying this week, but the business’s own receivables are due next week — and a thirty-day rolling facility is the wrong shape for that. Slice is shaped exactly to a bill: pay the supplier today, smooth the cost across the few weeks it takes for the cash to come back in. A one-off bill, a one-off fee, a one-off schedule.
How we lend it
Slice is regulated business credit under the same Article 60B Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 framework as our existing business loans — that is, lending to a body corporate for business purposes. The borrower is the company; there is no personal guarantee from the director. As with our standard loans, this is not consumer credit, and after our internal complaints process the route of escalation is the courts; the Financial Ombudsman Service and the Financial Services Compensation Scheme do not cover this lending.
What about paying it off early?
If you settle a Slice early, we refund you the unused portion of the fee on a pro-rata basis: every instalment you skip past saves you its share of the fee. That number is shown in your portal under “My Slices” the moment the early-settlement quote is requested. We will never charge a settlement penalty on top.
What we won’t do
We will not Slice a non-business bill, a personal purchase, a gambling debt, a regulated consumer-credit balance, or anything we judge to be outside the spirit of small-business cashflow help. We also won’t roll a Slice into another one. If a company is in genuine difficulty repaying, we will work to a sensible arrangement under the same forbearance approach we use for our standard business loans — see feedback and complaints if anything is going wrong.
What this means for our regulatory posture
Adding Slice does not change our regulatory status. We are still a body-corporate lender outside FCA consumer-credit regulation under Article 60B. The Slice Agreement is currently in solicitor review (LR-R12-slice-01 in our public legal-review tracker), and Slice will go fully public once that review confirms the agreement does what we say it does and meets the standards we want to be held to.
If you would like to read the agreement in advance, see the Slice Agreement (sample). Pricing, eligibility and protections all live on the Slice product page, including a live calculator so you can model any bill amount before you apply.
