This paper examines the Late Payment Directive of the European Union and seeks to answer the question of whether the provisions of the Directive can be applied to loan contracts. The paper first describes and analyses the Late Payment Directive and provides a comprehensive analysis of relevant arguments and legal sources. It then argues that the Late Payment Directive should be applied to loan contracts and facility agreements, even if this is not explicitly foreseen in the Directive. The paper finally highlights the inconsistencies that emerge when such contracts are excluded from the Directive.