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Paying suppliers in instalments.
Sometimes a supplier needs paying in full now, but it suits the business to spread the cost. This guide explains how Credicorp Slice does exactly that: the supplier is settled today, and the company repays over a short, fixed plan for a flat fee.
What spreading a supplier bill means
Two timelines, decoupled: the supplier is paid today; the company repays over the following weeks.
Credicorp Slice is built around a single supplier invoice. You choose the bill, Credicorp settles it with the supplier in full straight away, and your company then repays Credicorp over a short plan of three or four instalments. The supplier sees a bill paid on time; the company gets a few weeks to spread the cost. Unlike a bridging loan, the money does not pass through your account — it goes to the supplier — and unlike a revolving facility, it is tied to one specific bill rather than a general limit.
The cost is a flat fee on the bill, not daily interest. That makes the total knowable from the start: you see the fee, you see the instalment amounts, and there is nothing to accrue. Because the borrower is the company, this is body-corporate credit and sits outside the FCA consumer-credit regime — see lending and regulation.
How it works, step by step
- Choose the bill. Pick the supplier invoice you want to spread, between £50 and £2,000.
- The supplier is paid today. Credicorp settles the invoice in full now, so the supplier relationship is unaffected.
- Repay over a plan. Your company repays in three or four instalments over up to eight weeks, by Direct Debit on dates you choose.
- Settle early if you wish. Early repayment is free, and the unused portion of the fee is refunded.
Because the dates are yours to set within the plan, you can line the instalments up with the days money usually lands in the business — after a customer pays, say, rather than before.
Credicorp Slice, in figures
The operator's published terms. Confirm the live figures before you use it — see credicorp.co.uk/credicorp-slice.
| Term | Value |
|---|---|
| Bill amount | £50 – £2,000 |
| Instalments | 3 or 4, over up to 8 weeks |
| Fee | 6% of the bill, flat and one-time |
| Late fee | £12 per missed instalment, capped |
| Cost cap | 100% of the bill |
| Early repayment | Free; unused fee refunded |
| Collection | Direct Debit on dates you choose |
| Personal guarantee | None |
| Borrower | The company |
Worked examples
Illustrations at the published 6% flat fee, repaid on schedule. These are made-up examples, not real customers.
| Bill | Instalments | Flat fee (6%) | Total to repay | Each instalment |
|---|---|---|---|---|
| £600 | 4 | £36.00 | £636.00 | £159.00 |
| £900 | 3 | £54.00 | £954.00 | £318.00 |
| £1,500 | 4 | £90.00 | £1,590.00 | £397.50 |
| £250 | 3 | £15.00 | £265.00 | £88.33 |
The 6% fee is flat and one-time, with no daily interest. The total cost is capped at 100% of the bill. A missed instalment carries a £12 late fee, which is itself capped. Settling early refunds the unused part of the fee.
What a flat fee changes
A flat fee behaves differently from daily interest, and the difference is worth understanding before you choose.
With daily interest, the cost grows the longer you hold the money — repay early and you pay less. A flat fee, by contrast, is set once on the bill and does not grow day by day. The whole cost of a Slice plan is therefore knowable the moment you take it: a 6% fee on the bill, full stop. There is nothing accruing in the background, and nothing to recalculate if you settle on the published schedule. That certainty is the trade-off — you gain a fixed, visible cost in exchange for the daily flexibility that a bridging loan's interest gives you.
Two features soften the edges. Early repayment is free and refunds the unused portion of the fee, so settling ahead of plan is never penalised. And while a missed instalment carries a £12 late fee, that fee is itself capped, and the whole cost — fee, late charges and all — can never exceed 100% of the bill. The intention is that the cost stays proportionate even if a plan does not run perfectly. To see how a flat fee compares with an interest rate over a given period, our guide to how short-term finance is priced is a useful companion.
When spreading a bill fits
Fits well
- A single supplier invoice you can pay, but would rather not pay all at once.
- A bill due before the income that will cover it arrives.
- A situation where keeping the supplier paid on time matters to the relationship.
Fits poorly
- A general, recurring need rather than one bill — a revolving facility suits that.
- A lump sum you need in your own account — a bridging loan does that.
- Money you are owed by customers that you want to draw against — that is invoice finance, which works the opposite way round and which Credicorp does not offer.
It is worth being clear that Slice and invoice finance point in opposite directions. Slice helps you pay a supplier over time; invoice finance helps you get paid sooner on invoices you have issued. Our invoice finance guide covers the latter.