Fleximize review: flexible unsecured and secured business loans

Fleximize is an Ipswich-based business lender, founded in 2013, known for flexible term loans that come with top-ups and repayment holidays built in. It offers unsecured and secured loans to UK SMEs, from short working capital facilities to five-year loans. Smart Funding Solutions is an independent broker, so we can compare a Fleximize offer with the many other unsecured and secured lenders on our panel.

01About Fleximize

Fleximize launched in 2013 and is based in Ipswich, Suffolk. It lends from its own balance sheet through its FlexiLoan products and also runs a market scan with partner lenders, so a business that does not fit its own criteria may still be pointed towards another option. Its site sums up the approach as finding the best loan out there even if it is not a Fleximize one.

The flexibility in the name is the selling point. Fleximize says top-ups and repayment holidays are available as standard on its loans, and it encourages early repayment, so borrowers who repay sooner pay less interest overall. Decisions are promised within 24 hours.

02What Fleximize funds

Product	What it is for	Typical size	Typical term
FlexiLoan	Growth, equipment, stock and general working capital for established firms	£10,000 to £1,000,000	12 to 60 months
FlexiLoan Lite	Shorter-term cash flow needs for younger businesses	£10,000 to £1,000,000	3 to 12 months
Secured business loan	Larger or better-priced borrowing backed by property, vehicles or equipment	£10,000 to £1,000,000	3 to 60 months

The FlexiLoan is an unsecured business loan, while FlexiLoan Lite works more like a short-term business loan. On the secured loan, Fleximize says the maximum is linked to about two months of revenue, up to the £1 million cap, and that it takes an equitable charge, which is usually quicker to put in place than a full legal charge. It also says there is no loan-to-value limit on secured terms of up to 24 months, and it can sometimes lend more than the asset is worth.

03Who Fleximize suits (and who it may not)

Fleximize's published criteria are:

• FlexiLoan: at least 12 months of trading
• FlexiLoan Lite: at least 6 months of trading
• Secured loan: a limited company or LLP based in England or Wales, trading for at least 6 months with monthly turnover of at least £5,000

That makes it a good fit for a growing company whose income moves around and who values the option to pause or top up, such as a marketing agency with lumpy project income, a wholesaler with seasonal stock needs or a construction firm waiting on stage payments. Sole traders can use the unsecured products but not the secured loan.

Fleximize is less likely to suit very new businesses with under six months of trading, businesses in Scotland or Northern Ireland wanting the secured loan, or firms that need long-term property finance over many years.

04What Fleximize looks at

Typical information for a Fleximize application includes:

• Business bank statements showing turnover and cash flow
• Recent accounts or management figures for larger loans
• Details of directors and shareholders
• An up-to-date position on tax, including any HMRC arrears
• For secured loans, details of the property, vehicle or equipment offered

On the secured loan, Fleximize requires a personal guarantee from at least one director or shareholder holding a quarter or more of the company. A personal guarantee is also normal on its unsecured loans, as it is across most of this market. Our guide to personal guarantees explains what that commitment means.

05Pros and cons

Pros

• Top-ups and repayment holidays available as standard
• Encourages early repayment, so you pay less interest if you clear the loan sooner
• Wide range of sizes, from £10,000 up to £1 million
• Decisions within 24 hours
• FlexiLoan Lite opens the door for businesses with only six months of trading

Cons

• Personal guarantees are standard
• The secured loan is limited to companies and LLPs in England and Wales
• Maximum secured terms of five years are short for property-backed borrowing
• Strong businesses with good security may find cheaper money from a bank

06Applying through a broker vs going direct

You can apply on Fleximize's website, and it may also show you alternatives from its own partner lenders. A whole-of-market broker goes further, comparing Fleximize with the high street, government-backed schemes and specialist lenders it does not work with.

We search the market across 300+ lenders, present your application once and set offers side by side so you can compare total cost, flexibility and security. Smart Funding Solutions is an independent broker and is not part of Fleximize, which is one of the lenders on our panel. It is free to enquire; any broker fee is disclosed separately before you proceed. Get started with our instant quotes tool to compare lenders in minutes.

07Alternatives to Fleximize

• iwoca: well suited to smaller, fast working capital needs and flexible credit you can draw on.
• Momenta Finance: offers both secured and unsecured business loans, a useful like-for-like comparison.
• Swishfund: another secured and unsecured lender worth comparing, particularly for working capital loans.

If you are weighing up whether to offer security, read our comparison of secured vs unsecured business loans.