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Loans for any budget
Business loans are a versatile tool that allow you to fund a range of business activities from financing equipment to covering unexpected bills. This makes it easier to manage your cash flow, as you can get the funds you need upfront and spread the cost of paying it back.
With Fleximize, you can apply to borrow between £10,000 and £500,000. The size of your loan will depend on your personal and business financial situation, as well as what you need your loan for. This could be anything from growth to operational demands.
To help you choose the right loan size for your business, we’ve produced a series of pages on some of the most common loan amounts you can borrow:
What loan amount should I get for my business?
When considering how much to borrow, try to match the amount of capital needed to your current and future business requirements. Uses could include:
- Taking advantage of growth opportunities
- Purchasing new equipment
- Investing in infrastructure
- Hiring more staff
Our funding solutions are bespoke, with applications reviewed individually based on your unique needs and circumstances.
With Fleximize, you can apply to borrow from £5,000 up to £250,000 as a business based in the UK, and up to £500,000 in England and Wales. When deciding how much to offer, we consider a wide range of factors including monthly revenue, credit history, and trading time.
We can lend a maximum of two months’ revenue. For example, if you typically generate £50,000 per month, you could apply for a £100,000 business loan.
Many of our customers choose to top this up after their first few successful repayments.
How business loans can boost your UK business
There are several advantages for your business when you find the right loan. Here’s why almost a third of SMEs seek external finance.
Benefits
Grow your business
With an upfront cash injection, you can accelerate the growth of your business without having to wait to accumulate funds through income generation and potentially miss an opportunity. With almost half of SMEs seeking loans to expand, common uses include:
- Moving into new premises
- Upgrading equipment
- Facilitating new marketing initiatives
Flexibility
Choose how you use your loan. Whilst you may be expected to present a business plan, you retain the freedom to adjust and modify your plans once the funding is deposited.
At Fleximize, there are no hidden fees or early repayment penalties. Your business can also benefit from repayment holidays or top-ups at any time during your loan term.
Control
A business loan lets you maintain control over your business, so you won’t need to look to investors for help.
Unlike equity finance options like angel investment or venture capital, as a business owner, you won’t give up shares in your business in exchange for funds.
Repayment holidays
When you’re running a business, sometimes client payments can get delayed, or there’s a cash flow problem.
That’s why we offer repayment holidays as standard after three successful loan repayments, allowing you to make interest-only payments for a short period to help with unexpected costs.
Accessibility
With unsecured loans, you don’t need to offer company or personal assets as security.
This makes funding accessible for small business owners who might not have many assets or would prefer not to offer them as collateral.
Things to consider
Application process
With forms and document submissions, applying for a loan can be quite time-intensive - particularly when working with traditional banks.
That’s why we’ve built a quick and easy application form that allows you to apply online in under five minutes.
Early repayment fees
Unlike most lenders, Fleximize doesn’t charge fees for repaying early. We never penalize customers for growing faster than expected, so you’ll only pay interest for the time you’ve had the loan at no extra cost.
What can you use a business loan for?
There are many reasons why you might want to take out a business loan. They are incredibly versatile, with popular uses including:
- Expanding operations
- Covering operating costs
- Funding market initiatives
- Boosting cash flow
- Consolidating debt
- Buying new equipment
- Hiring new employees
- Moving to new premises
- Buying another business
- Marketing
- Purchasing inventory
- Market expansion
- Managing running costs
Find out how businesses like yours have used our funding by exploring our customer success stories.
Loved by our customers
How can I get a £10K to £500K business loan?
Before applying for a business loan, you’ll need to ensure your finances are in order and you are prepared. Take some time to evaluate your business's financial health, strategic plans, and repayment capacity.
Applying for a business loan with Fleximize takes less than five minutes. All you need to do is send us some basic information about yourself, your company, and other directors. This should cover names, addresses, and the purpose of your loan.
We’ll also need a few documents that we can use to carry out our checks, including:
- Business bank statements from the last three to six months.
- Your most recent set of management accounts.
- Revenue summary.
These can be uploaded during the application process, or join the 6 million UK users using Open Banking and share your statements with us securely online in just a few clicks.
Eligibility
Your eligibility will depend on your personal financial situation as well as that of your business. To apply for a loan with us, you will need to meet the following criteria:
- You’re based in the UK
- You’ve been trading for at least 6 months
- You have a minimum monthly turnover of £5,000
- We can lend from £10,000 to limited companies, and over £25,000 to non-limited businesses.
No matter where in the UK you’re based, we can help you find the funds you need. We offer up to £250K business loans in Scotland and Northern Ireland and up to £500K in the rest of the country.
Application
Applying for a business loan with Fleximize is a quick, easy, fuss-free process:
- Apply online with documents in just a few minutes
- Get a tailored decision from your Relationship Manager
- Receive your funds in as little as 24 hours once accepted
Try our business loan calculator to find out how much it will cost.
Why Fleximize can be a good fit for your business
With a host of different lenders available, it’s important to find one you can trust to meet your needs.
As a multi-award-winning digital business lender, we have lent hundreds of millions of pounds to thousands of SMEs across the UK. Here’s why you should choose Fleximize for your next business loan:
- We’re flexible. Choose from £10,000 loans to a £500,000 business loan with flexible terms of up to 60 months. Get top-ups and repayment holidays as standard, and no penalties for repaying early.
- We’re fast. Apply online in less than five minutes and get a decision in under 24 hours.
- We’re personal. Fintech-powered but relationship-led, our bespoke approach gives you funding tailored to your needs and a dedicated contact throughout.
- We’re trusted. We’re the UK’s best business loan provider and rated excellent on Trustpilot.
- We’re understanding. Funding is just one part of running a business, which is why we offer gold membership perks to our Member Marketplace to anyone who takes out a loan with us.
We want your business to succeed just as much as you do. Driven by our Loyalty Pledge, that’s why two-thirds of our customers return to us for more funding once their initial loan is settled.
If you want to know more about how we can support your business, give our friendly team a call and you'll get straight through to someone who can help, like Ryan. Or, if you're ready to apply, get started by clicking the button below.
0207
100 0110
Your common questions answered
Choosing the right loan term will depend on what you plan to use it for. Standard repayment terms are as follows:
- Short-term: 3 to 24 months
- Mid-term: Up to 5 years
- Long-term: Up to 10 years
Typically you should aim to borrow only what you need, and over the shortest timeframe feasible for your business. This reduces your risk and lowers the amount of interest you’ll need to pay.
However, this will depend on the purpose of the loan and how long you need the funds.
For instance, smaller loans to cover VAT may be taken out over three months as payments are billed quarterly. In contrast, customers applying for a larger loan for growth purposes will likely need longer payment terms to prevent monthly payments from affecting their cash flow.
At Fleximize, we offer terms of 3 to 60 months and calculate your interest on your reducing balance, not the total loan amount.
Business loan amounts can vary between lenders. With Fleximize, you can apply to borrow up to £250K upfront if you choose an unsecured business loan.
With security, this increases to a £500K business loan depending on the value of your assets. We also offer quick and easy top-ups after your first few successful repayments.
You can apply to borrow up to two months’ revenue. For example, if your average monthly revenue is £50,000, you will be eligible for a £100,000 loan.
Interest rates on UK business loans will vary across the industry, but at Fleximize, our rates start from just 0.9% per month.
We charge interest only on your reducing balance, not the total loan amount. With our Penalty-Free Promise, you can make overpayments at any time. This way, you’ll save on interest if you want to make overpayments without settling in full.
For example, if you take out a £50,000 loan at 0.9% over 18 months, interest would be £450.00 in month one but £26.95 in your final month. Check out our Business Loan Calculator for further details.
Do you have a question that you can't see? Check out our FAQ page.
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