Fleximize, as the name suggests, is one of the most flexible business lenders in the UK – but does it have good reviews?
Offering loans of up to twice the monthly income of an SME or sole trader, with a range of options for repayment breaks or early settlement, this lender typically approves applications and releases funds within 48 hours.
With an excellent online reputation, Fleximize has been delighting business customers for many years now. This may not be the cheapest lender on the market, but it’s certainly one of the most welcoming for anybody that meets the minimum trading length criteria.
Fleximize business loans and finance
- Pros and cons
- Business loans
- Merchant cash advance
- Business credit cards
- Asset finance
- Invoice finance
- Commercial mortgages
- Business vehicle finance
- Fleximize key information
- Fleximize reviews
- Business eligibility criteria
- Business finance alternatives
- Additional considerations
Pros and cons of Fleximize for business finance
|✓ Fast underwriting and approval process||✗ Must have been trading for at least six months|
|✓ Borrow up to twice your monthly turnover||✗ Interest rates can be a little higher than some competitors|
|✓ Payment holidays available, and no early repayment fees|
|Excellent online reviews|
Fleximize offers two types of business loan, both of which provide borrowing of up to twice an SME or sole trader’s monthly income. These loans can be taken out on a secured or unsecured basis. Fleximize earns its name by offering regular repayment holidays during lean trading periods, no early repayment fees, and the ability to top up your loan after three successful payments.
Borrow up to £250,000 (unsecured) or £500,000 (secured), with repayment terms between three months and a year. You need to have been trading for at least six months to qualify for this loan.
Borrow up to £250,000 (unsecured) or £500,000 (secured), with repayment terms between one and three years. You need to have been trading for at least a year to qualify for this loan.
Merchant cash advance
✗ Not available from Fleximize. See merchant cash advance.
Business credit cards
✗ Not available from Fleximize. See best business credit cards.
✗ Not available from Fleximize. See best asset finance.
✗ Not available from Fleximize. See invoice factoring.
✗ Not available from Fleximize. See commercial mortgages.
Business vehicle finance
✗ Not available from Fleximize. See business vehicle finance.
Fleximize key information
|Phone number||020 7100 0110|
|Number of branches||N/A|
|Review platform||Score||Number of votes|
|Smart Money People||4.93/5||298|
|Average score||4.915/5||1,042 total votes|
Business eligibility criteria
Fleximize does not assign a minimum turnover for loans, though how much you can borrow will be limited according to your income.
A business that has been trading for six months to a year will only qualify for a Fleximize Lite loan. Businesses that have been trading for a year or longer can apply for a full Fleximize loan.
SMEs and sole traders in England and Wales can apply for any kind of borrowing through Fleximize. Customers in Scotland and Northern Ireland are restricted to unsecured borrowing.
Business finance alternatives
As the name suggests, Fleximize is one of the most flexible lenders out there. You may need to pay more in interest from this lender, though. Compare the offering of Fleximize against other, more traditional business loan providers.
The criteria surrounding Flexiloan’s full, five-year lending has recently been relaxed a little to accommodate more customers.
Fleximize offers repayment holidays on loans, can be topped up after three successful repayments, and will not charge early repayment penalties if you wish to settle your balance ahead of the scheduled term.
Call Fleximize on 020 7100 0110 to discuss your options, or fill in the very brief online quote form to receive an instant quote.
The maximum sum Fleximize will offer on an unsecured loan is £250,000, and for a secured loan the cap is £500,000. However, be aware that Fleximize will only loan up to twice your monthly revenue, so you’ll need to bring in £250,000 per month to borrow the maximum amount.
Fleximize offers secured and unsecured loans. If you are willing to secure your loan you will qualify for greater borrowing, and this may help your application if you have a substandard credit history, but secured loans always carry a degree of risk.
Interest on your loan will be assigned upon agreement, and charged monthly. Interest rates with Flexiloan begin at 0.9% but can rise as high as 3.9% monthly. The latter interest rate on a three-year loan could lead to an interest rate over 140% if you take your borrowing to term.
Fleximize do their best to approve all loan applications, and may be willing to look beyond a poor credit score, but you will need to show the lender that you will be capable of repaying the borrowing.