Fleximize offers business loans in the UK for SMEs. It also offers UK business loans with bad credit. It is a direct lender and not a loan broker. It offers business funding to various industries like construction, manufacturing and retail.
Fleximize Business Loan
- Fleximize offers two types of loans; Flexiloan and Flexiloan lite. Both loans have secured and unsecured loan options.
- Fleximize does not have hidden fees and there are no prepayment fees. You only pay interest for the time you have had the loan. Fleximize interest rates start from 0.9% per month.
- You can top up your loan and when you borrow a loan for the second time or get a lower interest rate or a cashback of £100.
Fleximize was started in 2014 and has so far lent out over £100 million to over 3000 UK businesses.
Eligibility for Fleximize Business Loan
To qualify for Fleximize business loan, your business should meet the following requirements:
- Have a minimum turnover of £60,000
- Have been trading for at least 6 months
- You qualify for a loan equal to a maximum of two months’ revenue
How to Apply for Fleximize Business Loan
To apply for Fleximize business loan, you need to complete an online application form. Fill in details about your business. You will need to provide banks statements for your business for the last 3 months of trading. You can upload these documents via the website.
After making the application and uploading the documents, Fleximize will make a decision within 24 hours. You will be allocated a relationship manager who will take you through the remaining process.
Fleximize will assess your application based on the information you have provided. It will also do a search from a credit reference bureau to evaluate your creditworthiness.
Once you are done, you will need to sign the finance agreement. If your loan application is approved, funds will be sent to your bank account within a few hours.
Fleximize Types of Loans
Fleximize offers two types of business loans; Flexiloan and Flexiloan lite:
- Flexiloan. Flexiloan is available to businesses that have been trading for more than 12 months. It offers a business loan of between £5,000 and £500,000 with a repayment period of between 12 to 48 months. Flexiloan has interest rates of between 0.9% and 2.9% per annum. It offers both secured and unsecured loans.
Flexiloan lite. It is available to businesses that have been trading for more than 6 months. It offers both secured and unsecured business loans. You can get a Flexiloan lite of between £5,000 and £500,000 with repayment terms of between 3 to 12 months. It offers interest rates of between 1.9% and 3.9% per annum.
Fleximize Interest Rates
Fleximize provides businesses loans at a fixed interest rate within the repayment period. Interest rates for Fleximize loans are determined by the rate you are offered, the amount you borrow and the terms of the loan, credit rating and how your business is performing. As such, the rate at which you will receive a business loan will greatly differ from the advertised APR.
However, interest rates start from 0.9% per month. If you borrow a loan for the second time, you are assured of a lower interest rate or a cashback of £100.
How to Repay Fleximize Loan
The easiest way to repay your Fleximize business loan is to set up a standing order. You can also repay the business loan through a debit card or a bank transfer.
Fleximize is a transparent business lender and does not have hidden fees. Also, you pay interest for the time you have had the loan. Therefore, if you repay your loan early, there are no prepayment fees.
Fleximize is a trusted business lender in the UK. Fleximize was named for the second time as the best business finance provider during the British Bank Awards in 2020. Fleximize has a rating of 4.9 out of 5 on Trustpilot. Therefore, it is a reputable business provider in the UK.
If you are looking for business funding and you want to use other alternative business funding, you can use companies like:
Conclusion of Fleximize Business Funding
If you are looking for working capital for your business in the UK, consider Fleximize business funding. You can get funding within 24 hours. You can get a business loan of between £5,000 and £500,000 and have it deposited into your account within 24 hours. Ultimately, it is an affordable business loan with interest rates starting from 0.9% and you can repay it earlier and reduce interest.