Our standard term loan, the Flexiloan, has had a refresh, with lower rates now starting at 10.8% per annum, suitable for almost any business for almost any purpose. Meanwhile, the brand-new Flexiloan Lite has been specifically designed for younger businesses who need a short-term cash injection. Both products are available on an unsecured and secured basis and businesses can borrow between £5,000 - £500,000.
The refreshed Flexiloan and brand new Flexiloan Lite have been introduced as a result of significant market research and have been designed around the needs of UK business owners trying to navigate the current economic climate. In addition, in order to continue championing small businesses during these turbulent times, we've opened up our Member Marketplace to all businesses across the UK, regardless of if they have a Fleximize loan or not. This means that any business in the UK can sign up for free to access discounts on industry-leading tools and services to help run their SME.
As part of our mission to bring transparency to the sector, we've also introduced our new Penalty-Free Promise to ensure that customers never overpay for a Fleximize business loan and are not penalized if they wish to repay in full early. Similarly, our new Loyalty Pledge rewards returning customers with preferential rates and wider business support.
Peter Tuvey, Co-Founder and CEO of Fleximize, said: 'We're keen to support the UK business community with their growth plans, now more than ever. The changes we've made to our products, including a significant drop in our interest rate, demonstrates how we're willing to adapt to ensure that our service is meeting the needs of UK business owners in practice. In addition, opening up our Member Marketplace to all UK business owners is just one of the many ways we're demonstrating that we're here to support SMEs for the long haul.'