Fleximize launches five-year product following record Q1 performance

Digital lender Fleximize has launched a new five-year Flexiloan product, as part of a wider overhaul to increase funding affordability and accessibility for SMEs.

The product offers loans from £10,000-£500,000 for businesses that have been trading for at least one year.

Interest rates range between 0.9%-1.9% per month, depending on the strength of the business.

Fleximize has also loosened criteria on its unsecured 36-month product to cater to more businesses based on current credit requirements.

As part of this, the lender has changed the loan purpose requirement to include working capital — previously, the product was limited to medium- to long-term growth purposes only. 

In addition, the revamped 36-month option now requires financials to be dated within the last 12 months for loans less than £150,000, and six months for loans over £150,000.

The new products will be rolled out exclusively to Fleximize’s preferred broker panel for an initial trial period in April.

The proposition changes follow the lender’s record-breaking performance in Q1 2022, which saw an 86% increase in funding deployed, compared to the same quarter last year.

Peter Tuvey, co-founder and CEO at Fleximize (pictured above), said: “Since Fleximize began, our team has formed invaluable relationships with its introducer network that enable us to continually improve our products and processes to better help their clients.

“Reflecting on our 2022 success to date, it’s clear these figures are the direct result of incorporating brokers’ feedback into our decision making, allowing us to fully understand the changing needs of SMEs in the UK. 

“Having recently secured a new funding line, Fleximize is poised to expand its reach and funding to even more businesses.”

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