Requirements for Fleximize Business Loans (Flexiloan & Lite)

Fleximize offers highly flexible loans for UK SMEs. Understanding their eligibility criteria and relationship-focused application process is key.

Basic Eligibility Criteria for SMEs

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Business Type: Available to UK-registered Limited Companies and LLPs. Sole Traders and Partnerships may be considered on a case-by-case basis.

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Trading History: Businesses typically need a minimum trading history of 6 months for Flexiloan Lite and 12 months for the standard Flexiloan.

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Turnover: Minimum turnover requirements apply and vary by product (e.g., potentially £5,000+ monthly turnover for Flexiloan Lite). Fleximize assesses overall financial health.

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Creditworthiness: Fleximize considers the business's financial performance, credit history, and the directors' personal credit profiles, often taking a holistic view beyond just credit scores.

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UK Based Operation: The business must be based and operating in the UK.

Information & Documentation Needed:

Fleximize combines technology with a relationship approach; be prepared to provide:

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Company Details: Registered name, company number, address, director/owner details.

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Financial Information: Recent business bank statements (typically 3-6 months), latest filed accounts, and potentially management accounts or forecasts.

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Loan Purpose: A clear explanation of why the funding is needed and how it will be used.

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Security Details (for Flexiloan): If applying for the secured Flexiloan, details of the assets being offered as security will be required. Flexiloan Lite is unsecured.

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Personal Guarantees: Personal guarantees from directors are commonly required for limited company borrowing.

Application Process

Fleximize's process blends digital efficiency with human interaction:

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1. Online Application: Submit initial details via a simple form on the Fleximize website.

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2. Relationship Manager Contact: A dedicated relationship manager will typically contact you to discuss your needs in more detail and guide you on required documentation.

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3. Document Submission: Provide requested financial documents electronically.

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4. Underwriting & Decision: Fleximize's team assesses the application, considering both data and the business context. Decisions are often made within 24-48 hours of receiving all information.

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5. Offer & Funding: If approved, you receive a clear loan offer. Upon acceptance, funds are transferred quickly.

Loan Terms and Conditions

Key terms for Fleximize's loans:

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Interest Rates: Rates are fixed for the loan term and tailored based on the business's risk profile and the loan product (Flexiloan vs. Lite).

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Loan Amounts: Flexiloan Lite: £5k-£25k. Flexiloan: £25,001-£500k.

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Repayment Terms: Flexiloan Lite: Up to 36 months. Flexiloan: Up to 48 months.

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Flexibility Features: Penalty-free early repayments, top-up options, and potential repayment holidays are key differentiators.

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Security: Flexiloan Lite is unsecured. The standard Flexiloan may require security depending on the amount and circumstances. Personal guarantees are common.

Who Is Fleximize Best For?

Fleximize's loans are particularly well-suited for:

SMEs seeking genuine flexibility:

Businesses that anticipate needing top-ups or might face periods requiring repayment holidays value Fleximize's adaptable structure.

Learn more: The importance of flexibility in business loans

Established businesses with growth plans:

Companies with a trading history looking for substantial funding (£25k+) for expansion, investment, or acquisition can utilize the standard Flexiloan.

Learn more: Financing strategies for SME expansion

Businesses valuing relationships:

Owners who prefer working with a dedicated relationship manager who understands their business context, rather than purely automated processes.

Learn more: The role of relationship management in SME banking

Tips for a Successful Application

To enhance your chances of approval with Fleximize:

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Prepare Key Financials: Have recent bank statements and filed/management accounts ready to share with your relationship manager.

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Articulate Your Business Story: Be ready to discuss your business's performance, challenges, opportunities, and how the funding will be used.

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Check Credit Reports: Review both business and personal credit reports for directors to identify and address any potential issues.

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Demonstrate Repayment Capacity: Clearly show how the business will generate the revenue needed to comfortably meet the loan repayments.