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Business Bridging Loan cost.
Move the two figures and see the interest, the one-time fee and the total your company would repay. Based on Credicorp Limited's published terms; an illustration, not a quote.
- Interest (0.25%/day on principal)—
- Establishment fee (one-time)—
- Total cost of credit—
- Total to repay—
—
Figures use the published rate of 0.25% per day on the outstanding principal, a £5 one-time establishment fee, and the 100% cost cap (the total cost of credit never exceeds the amount borrowed). Repaid on schedule; actual cost depends on the amount, term and timing of repayments.
How the Bridging Loan is priced
Two things make up the cost: daily interest on the principal, and a single £5 establishment fee. There is no compounding and no monthly add-on. Because every Credicorp product carries a 100% cost cap, the total you repay can never be more than twice what you borrowed, however the term plays out.
For a fuller walk-through of what drives short-term pricing, read how short-term business finance is priced, and flat fees vs APR for why annualised rates can mislead over a few weeks.