Two changes at once. A longer standard term to lighten the monthly, and a calculator that shows what you’d actually repay before you apply.

We’ve moved Flexi Credit to a 12-month standard term, with six months still available where it suits the business. The reason is simple. Spread the same borrowing over twelve months instead of six, and the monthly repayment roughly halves, which is often the difference between a facility that fits the month and one that fights it. Nothing else about the product has changed shape.

Interest is charged on the drawn, reducing balance, from 1.99% a month, and there are no arrangement, service, or non-utilisation fees. Facilities run from £10,000 to £350,000, with a decision usually the same day through Open Banking. Once you’ve paid down to two-thirds of your limit, the facility reloads, so you can draw again without reapplying. Early repayment is available from 90 days after a drawdown, with no penalty for settling ahead.

The rate is only half the price

A headline rate tells you very little on its own. A low rate with a big arrangement fee can cost more than a higher rate with none, and lenders quote cost in ways that rarely line up: a monthly rate here, a factor rate there, a representative APR somewhere else. Four things decide what you actually pay. The headline rate, which is the easy part to compare. The arrangement fee, often a few per cent of the facility, which usually appears only in the final offer. How the interest is charged, on the balance as it falls or on the original amount throughout. And the total repayable, which is the only figure that pays your bills.

That last one is where flat-rate products quietly get expensive. They charge interest on the original balance every month, rather than on the balance as it comes down, so the real cost sits higher than the headline suggests. Add an upfront fee and the gap widens again.

See it before you apply

So we’ve put the number that matters in the open. The calculator shows the total repayable on Flexi Credit for any amount and term. On a £50,000 facility at 2.99% a month over twelve months, that’s £61,213, or about £4,852 a month after a 60-day interest-only start. Change the amount, the rate band or the term and the figures move with you.

It also compares. Drop in any other offer you’re weighing, and the tool compares the monthly rate and the arrangement fee, then puts the total repayable amount side by side. If you’re looking at a merchant cash advance, where the cost is hidden inside a factor rate, it converts that to an APR so you can compare them on the same basis.

Flexi Credit is built for established businesses that treat credit as a tool, not a last resort. If that’s you, we can show you the full cost and let you judge it. Run your own figures.

See the whole cost: multifi.co.uk/pricing-and-calculator