What is a flex loan?

A flex loan is a type of credit that can seem pretty convenient. Like a personal line of credit, a flex loan lets you borrow money, repay some or all of your balance, and then borrow again up to your credit limit. But interest rates can be high, and there are other risks you should know about before you apply for a flex loan.

What is a flexible mortgage?

The term flexible mortgage refers to a residential mortgage loan that offers flexibility in the requirements to make monthly repayments. The flexible mortgage first appeared in Australia in the early 1990s (hence the US term Australian mortgage ), however it did not gain popularity until the late 1990s.

Do flex loans require a credit check?

Good credit and collateral may help qualify borrowers for favorable terms on a line of credit from a bank or credit union. But flex loans are unsecured and can be an option if you have rough credit or little to no credit history. Flex loan lenders may not require a credit check.

What are the benefits of flexible finance?

You’ll have more control with flexible finance than you will with traditional bank loans. You retain control of your business’s cash flow management, and you decide how to use funds for growth. Popular flexible finance options include solutions like invoice or order finance.