The credit cycle is a structuralized vision of management, at the same time independent and integrated to the business of credit concession. An efficient management of the credit cycle can generate good results for the company. The Losango Promotions of Vendas Ltda, a financier who works with credit, also has its credit cycle with all its stages. Recently, in the year of 2005, the company had an increase in the insolvency numbers. This report intends to describe what it is the credit cycle, as its functions and to study the reasons of the insolvency of the Losango. Observe if the imperfection in the management was in some point of the cycle, or if the Losango followed a trend of the economic and financial market.