Business Loans

Much like a personal loan, a typical business loan involves borrowing a sum of money upfront from a lender. The key difference is that the money is borrowed on behalf of a business, although you may be personally liable. You will then repay the loan amount, including any interest, over an agreed length of time. Timeframes can range from a few months to several years. At Fleximize, our terms run from 3 to 48 months.

Business loans are usually split into two key categories: unsecured and secured.

Unsecured business loans don’t require personal or company assets such as property to be provided as collateral. Instead, most lenders will ask for a personal guarantee from the business owner and any other shareholders or company executives. Secured business loans, on the other hand, are secured against an asset. This can help you access larger amounts of funding at better rates because the lender’s risk is reduced.

The best business loan for you will depend on details such as how much you want to borrow, your asset base, and personal preference.

As no two businesses are the same, we offer loans with unsecured and secured options and plenty more flexibility built-in, including repayment holidays, top-ups, and penalty-free early repayments.

Are there other types of business funding?

Every business is unique in its financial requirements. Your suitability for a particular type of funding could be impacted by your industry, company size, location, trading length, and other factors. Thankfully, there are many options available in the UK. These include:

• Government support including grants and R&D tax relief
• Equity funding such as angel investment or venture capitalism
• Crowdfunding or peer-to-peer lending
• Specialist business loans including options for construction, retail, e-commerce, and manufacturing
• You can read more about your options in our guide to alternative finance.

Around 45% of UK SMEs have leveraged external finance to help their business thrive. If you’re thinking of joining them, business loans can offer great benefits:

• Fuel growth: Need a financial boost for a long-term project or an immediate opportunity? An SME loan can help you grow and achieve your goals.
• Boost cashflow: Most businesses face ups and downs. Getting a business loan could help you keep things running through those quieter periods.
• Fast solution: With digital lenders streamlining the process, you could receive your loan the very same day you apply. That means spending less time collecting paperwork and more time growing your business.
• Tailored to you: With an increasing amount of funding options available to UK SMEs, you can choose from secured and unsecured options with repayment terms that suit you.

It’s important to do your research before applying for any kind of finance. Here are a couple of points to consider with business loans:

• The cost of borrowing: You’ll need to budget for repayments, interest, and any additional fees. Some lenders charge for arranging the loan, as well as early repayment fees if you settle ahead of time – but we don’t.
• The application process: Getting a business loan with traditional providers can involve complicated application processes and lengthy wait times. Thankfully, you can apply online with Fleximize in minutes and get a decision in as little as 24 hours.

Customers use our products to fund a range of long- and short-term priorities, including:

• Refurbishing or extending business premises, such as hotels and restaurants
• Buying new equipment, such as vehicles, technology, or software programs
• Hiring staff to meet increased demands or create new opportunities
• Buying stock to fulfil large orders, diversify products, or take advantage of discounts
• Covering urgent or unexpected costs, like tax or repair bills
• Bridging gaps in lengthy payment terms

Discover how businesses like yours have used our funding by exploring our customer case studies.

Business funding amounts vary from lender to lender. With Fleximize, you can apply to borrow between £5,000 and £500,000, depending on your monthly revenue.

We can lend up to a maximum of two months’ revenue. So, if you generate £50,000 in a typical month, you could borrow up to £100,000 initially. You can apply to top this up following a few successful repayments, as many of our customers do.

If you have been trading for longer than 12 months, you can repay your loan over a term of 3 to 36 months on an unsecured basis, or 3 to 48 months on a secured basis.

If you’ve been trading for 6 months or more, we can provide funds through the Flexiloan Lite with a repayment term of up to 12 months. Once you have more successful trading time under your belt, the flexibility of our products means you could refinance with the Flexiloan if you require further funding.

Let us know what you'd like your monthly repayments to be, and we'll look to arrange a term that works for you.

We offer business loans with interest rates starting from 0.9% per month. There are no nasty hidden fees to worry about, but we’ll explain any costs to ensure you’re happy before proceeding. Unlike other lenders, we don’t charge early repayment fees either, so you could pay less interest overall by repaying ahead of schedule.

You can see an estimate of what your business loan could cost by using our business loan calculator. When you’re ready to get in touch, we can give you a tailored quote.