The alternative SME lender, Fleximize, has announced that in the first half of this year, the amount it lent to clients was 211% higher than in the same period in 2014. The average loan size this year is now £29,000, which is 80% higher than last year, and the total lent by the company since its launch in 2014 is now over £10 million.
Fleximize says that mainstream banks are turning down over £1 billion of SME credit applications every quarter(1), but many of these belong to financially strong and viable enterprises which do not fit the strict criteria applied by many banks. By using a more in-depth analysis of a company’s financial performance and its customer feedback on online trading platforms such as Amazon and eBay, Fleximize can lend to many growing organisations that have been rejected by banks.
Fleximize has lent to companies across a variety of different sectors including Retail, Manufacturing, Construction, Information and Communication, and Wholesale.
Max Chmyshuk, Founder and Managing Partner at Fleximize, said: “We are delighted by our strong growth and are excited by our pipeline of new business. Around 30% of the total number of loans deposited have been to clients who have already had a loan from us, and this reflects the strong customer feedback we have received.
“We expect to continue on a steep growth trajectory, driven by our unique, flexible, customer-focused offering. The increasing popularity of alternative lending and the reluctance of many main stream banks to lend to thousands of SMEs is also supporting our success.”
Notes to editors
- Fleximize analysis of British Bankers Association data
About Fleximize Ltd
Fleximize is a UK-based direct funding company and web platform launched in January 2014. Our mission is to help small and medium-sized British businesses grow by providing them with flexible financing solutions tailored to their unique needs and preferences. We are striving to provide our clients with experience and service traditionally available only to larger corporates. Our dedicated relationship managers will guide and support clients from the moment they apply - no bouncing from person to person or waiting for hours on hold.
Fleximize Limited trading as Fleximize is registered in England and Wales with Company Registration Number 07117447. Registered Office & Trading Address: Holbrook House, 51 John Street, Ipswich, Suffolk, IP3 0AH.