Working capital to replace overdraft facility that had been withdrawn
Construction
£
15,000
What is a Flex Loan
A flex loan, also known as a flexible loan or line of credit, is a type of borrowing arrangement that provides borrowers with a revolving credit line. It's similar to a credit card in that you're approved for a certain credit limit, but instead of using a card to make purchases, you can access the funds through various means like cheques, online transfers, or electronic transfers.
How does a Flex Loan work
The key feature of a flex loan is its flexibility. Borrowers can access funds as needed up to their credit limit and only pay interest on the amount they've borrowed. As they repay the borrowed amount, those funds become available to borrow again, similar to how a credit card's available balance replenishes as you pay off the balance.
Flex loans are commonly used by individuals and businesses to manage cash flow fluctuations, cover unexpected expenses, or finance short-term needs. They provide a convenient and versatile way to access credit without having to reapply for a loan every time funds are required. However, it's important to manage flex loans responsibly to avoid accumulating excessive debt.
The benefits of a Flex Loan
Flexible usage: use the funds for different needs, whether planned or unexpected.
On-demand access: instantly access money up to your credit limit when required.
Interest on borrowed amount: you only pay interest on the amount you borrow.
Revolving credit: repaid funds become available again for future use.
Customisable repayment: no fixed monthly payments; repay at your pace.
Quick financial support: ideal for emergencies and short-term needs.
Convenient access: easily access funds through various methods.
Client Success Stories