Lendly
Repayments
25 Aug 2026 · 3 min read

Late payments, in plain English

There is a three-day grace period, a single £25 fee, and a conversation long before anything else happens.

Life happens. Here is exactly what follows a late instalment.

Days 1 to 3

Nothing. Pay within three days of the due date and there is no fee.

After day 3

A single £25 fee is added to that instalment when you pay it. We never compound interest on arrears.

After 60 days

A loan more than 60 days overdue is marked as in default. Long before that, Duncan's team will have called you.

DF
Duncan Fraser
Lendly journal
Keep reading
Repayments
25 Sept 2026
Settling a business loan early: what it really costs
Paid sooner than expected? Settling early costs the remaining principal plus one month of interest. Nothing else.
Read more
Rates
2 Oct 2026
How we work out your rate (and why it is only four numbers)
Two facts about your business decide your band: how long it has traded and how much comes in each month. Here is the whole table.
Read more
Funding that keeps pace with your business
Check your rate in two minutes. Applying does not affect your credit score until you accept an offer.