Everything you
need to know
Transparent answers about how Flexi Credit works, what it costs, and whether it’s right for your business.
- 020 8432 9929
- support@multifi.co.uk
Transparent answers about how Flexi Credit works, what it costs, and whether it’s right for your business.
Top questions to help you understand
Flexi Credit is a structured, reloadable credit facility for established UK Limited companies:
When your outstanding balance drops below 66% of your original limit, your available credit can “reload”, subject to a short account check-up.
You only pay interest on what you draw.There are no platform fees, service fees, or early repayment penalties.
A traditional loan:
Flexi Credit:
The previous RCF model included platform fees charged on the full limit.
Flexi Credit removes platform and service fees entirely and introduces:
Flexi Credit is engineered for transparency, discipline, and long-term sustainability.
Once approved and onboarded, you have 30 days to draw funds up to your approved limit.
You may:
After 30 days, the draw window closes until a reload is approved.
Capital repayments begin 60 days from the start of the draw window, not from each individual transaction.
This provides breathing space before capital repayments start.
Capital is repaid over 6 months (amortising).
Each repayment reduces your outstanding balance.
Interest decreases as your balance reduces.
Interest:
Interest and any due capital are collected via Direct Debit.
Customers must maintain sufficient funds in their nominated account.
Yes. There are:
You only pay interest for the time funds were used.
You should contact us immediately. Missed payments may:
We aim to work constructively with customers who communicate early.
Reload means your available credit reopens within the same facility once your outstanding balance falls below 66% of your original credit limit.
It is not:
It is your existing facility becoming available again.
The threshold ensures:
No. Reload requires:
Approval remains subject to business assessment.
Yes (for brokers/partners). Commission is paid upfront for the initial drawdown and for every reload.
1.99% – 4.99% per month (risk-based).
Pricing reflects business strength.
The structure remains the same regardless of rate.
No. Flexi Credit has:
No.
MCAs often include:
Flexi Credit uses transparent monthly interest on drawn funds only.
Established UK Limited companies that:
Prohibited sectors include:
(Full AML list applies internally.)
Yes. Flexi Credit is unsecured, meaning:
No. Initial checks are soft searches. A hard search occurs only if proceeding to full approval.
Typically same day or next business day once agreements are signed.
Open Banking is an FCA-regulated, read-only connection to your business bank account.
It allows:
We cannot:
Access must remain active while you have:
If consent expires, reload or account activity may be suspended.
Access must remain active while you have:
If consent expires, reload or account activity may be suspended.
Yes. Payments are made directly to approved payees or you can drawdown credit into your business account during the initial 30-day funding period.
New payees undergo AML checks (typically within 24 hours).
Yes. UK payments: usually same day
International payments: 24–48 hours
Payments appear as “RCH Capital” with editable reference.
Existing agreements remain governed by their original terms.
They may:
Each case is reviewed individually.
Modulr FS Limited (FRN: 900573), authorised and regulated by the FCA as an Electronic Money Institution.
Funds are safeguarded under Electronic Money Regulations 2011.
Electronic money products are not covered by FSCS, but funds are safeguarded in segregated accounts in line with regulation.
If cancelled during funding period:
Businesses with highly erratic or non-trading periods may not be eligible.
No. Flexi Credit is designed for working capital and growth use cases.
Capital repayments begin 60 days from the start of your funding period, not from each individual draw. In practice, if you pay a supplier today, you typically have 60 days before your first repayment. For many businesses, that’s enough time to use the stock, sell it, receive payment, and repay from revenue rather than reserves.
Yes. When you make your first draw, you can choose to repay over 3, 4, 5, or 6 months. A shorter term means larger monthly repayments but less total interest; a longer term spreads the cost. Your chosen schedule is fixed for the duration of your facility; it applies to all draws, including any reloads. We recommend choosing 6 months unless you have a clear reason to repay faster. If you want to discuss the right option for your business, speak to our team before drawing.
Your repayment schedule is set at first draw and remains fixed for the lifetime of your facility. If your circumstances change significantly, contact us. Our team can review your account on a case-by-case basis. This is why we recommend taking time to choose the right schedule from the start.
Eligibility explained
multifi Flexi Credit is designed for established UK businesses that have already proven themselves — not startups seeking seed funding, and not large corporates with access to high-street lending.
The sweet spot is a UK SME that is trading well, has a clear working capital need, and would benefit from flexible, revolving credit without the friction of a traditional loan.
Typically, our customers are businesses with 10 to 250 employees, operating across manufacturing, wholesale and retail, professional services, e-commerce, transport and logistics, and business services.
Flexi Credit is not designed for startups, sole traders, or businesses with outstanding County Court Judgements.
To be eligible, your business must meet all of the following:
Our initial eligibility check is a soft credit search only – it will not affect your credit score.
Meeting these criteria does not guarantee approval. All applications are subject to full credit and affordability assessment.
We support established SMEs across a broad range of sectors:
The following sectors are excluded:
Yes. Your business must have a minimum annual turnover of £50,000. There is no fixed upper limit.
Credit limits are assessed in the context of your business’s financial strength and cashflow patterns — a higher turnover does not automatically result in a higher limit.
Your business must have been actively trading for a minimum of one year.
This is not simply one year since incorporation — we require at least one year of meaningful trading activity, verified through Open Banking data.
Businesses with two or more years of consistent trading typically receive stronger assessment outcomes and faster decisions.
No. Flexi Credit is not available to startup businesses. We require a minimum of one year of trading history because our credit assessment is based on real business cashflow data.
If your business is under one year old, the British Business Bank’s Start Up Loans programme may be a suitable alternative in the meantime.
No. The initial check uses a soft credit search only. Soft searches are not visible to other lenders and do not impact your credit score.Soft search: zero credit score impact. Hard search: only if you proceed to full application, with your prior consent.
Being declined by another lender does not automatically disqualify you. We conduct our own independent credit and affordability assessment based on your current business data.
That said, if you have recently been declined elsewhere, we would encourage you to understand why before applying. Common reasons — such as outstanding CCJs, insufficient cashflow, or sector exclusions — will also affect your eligibility with multifi.
How Does It Work?
Flexi Credit is not a traditional term loan. It is a revolving credit facility — a pre-approved pot of money that you can draw from, repay, and draw from again without reapplying each time.
Unlike a term loan, which pays a fixed lump sum that is repaid on a set schedule, Flexi Credit gives you:
It behaves more like a business credit card or overdraft in terms of flexibility, but with a structured repayment schedule and transparent monthly interest.
A Merchant Cash Advance (MCA) advances a lump sum against your future card or invoice revenues, repaid as a percentage of daily sales. The key differences from Flexi Credit are:
With Flexi Credit:
Flexi Credit sits above MCA in the lending stack. It suits businesses that want structured, predictable monthly repayments rather than daily revenue-linked collections.
Business credit cards and Flexi Credit share some surface similarities — both are revolving, both let you draw and repay. However, they differ significantly in structure, cost, and purpose:
Flexi Credit is better suited to businesses that need larger amounts of working capital for specific purposes, repaid in a disciplined structure.
Revolving credit means the facility does not close after a single use. Once you have drawn funds and repaid enough of your balance, the credit becomes available to draw from again — without needing to apply for a new facility.
The cycle works as follows:
This cycle can repeat, giving your business ongoing access to working capital without the burden of repeated full applications.
Reload is the mechanism by which your credit becomes available again after you have repaid a portion of your drawn balance. It is not a new loan, a top-up, or a new agreement — it is your existing facility reopening.
Here is exactly how it works:
For brokers: initial draws and reload draws attract commission on capital. Both paid upfront.
Absolutely not. You are not obligated to use your full credit limit, and you will not be charged for any limit you leave undrawn. There is no non-utilisation fee.
If you are approved for £100,000 but only need £30,000, you draw £30,000 and pay interest only on that amount. You can draw in multiple tranches within your 30-day funding period, provided the total does not exceed your approved limit.
Flexi Credit is designed for legitimate business working capital purposes. Approved uses include:
Funds may not be used for:
multifi may request information about intended use of funds as part of the application or ongoing account monitoring process.
Pricing and Fees
Flexi Credit uses a simple monthly interest model. Your rate will be between 1.99% and 4.99% per month, set based on the strength of your business at the time of assessment. This is the only charge — there are no other fees of any kind.
To illustrate: if you draw £50,000 at 2.49% per month over 6 months, your total interest cost would be approximately £4,358. Because repayment is amortising, your interest charge decreases each month as your balance falls.
Interest accrues daily on your outstanding drawn balance. At the end of each calendar month, the total interest accrued is calculated and collected via Direct Debit on or after the 8th of the following month.
Because interest is calculated on the outstanding balance and not on the original drawn amount, your charge reduces every month as you make capital repayments. This is the amortising benefit.
Example at 2.49%/month on £50,000: Month 1 interest ≈ £1,245. By Month 6, with the balance substantially reduced, the interest charge falls to around £207.
There are no fees. The only charge is monthly interest on your outstanding balance, collected once per month on or after the 8th via Direct Debit. Capital repayments are collected on the same date. No other charges apply at any stage.
No. There are no hidden fees of any kind. multifi was founded on a principle of complete pricing transparency. The following fees, commonly charged by competitors, are all £0 with Flexi Credit:
The only cost is interest on the balance you draw, at your agreed monthly rate.
No. There is no setup fee, arrangement fee, or origination fee at any stage. You pay nothing to apply, nothing to receive your funds, and nothing to activate your account. The only cost is interest on what you draw.
You are free to repay early at any time. There are no early repayment penalties, no settlement fees, and no charges for closing your balance ahead of schedule. Because interest accrues daily on your outstanding balance, early repayment directly reduces the total interest you pay. You benefit from every pound you repay, whenever you repay it.
No. There are zero penalties for early repayment, under any circumstances. This is an absolute, not a conditional commitment. Early repayment is actively encouraged: it reduces your interest cost, demonstrates strong financial management, and may improve your position at the point of reload.
Repayments
Repayments consist of two components collected together each month via Direct Debit:
Because your balance reduces each month, your interest charge decreases progressively. Your total monthly payment is highest in Month 1 and reduces each month through to Month 6.
Your repayment date is set automatically by the system based on 60 days from the start of your funding period. You do not choose this date, and it cannot be changed after activation.
Repayments are monthly. You will make six repayments in total over the 6-month repayment term. The first repayment begins 60 days from the start of your funding period, providing a deliberate breathing space before capital collections begin.
If a Direct Debit payment fails or is returned unpaid, please contact us immediately. We aim to work constructively with customers who communicate early and proactively.
The consequences of a missed payment can include:
If you believe you may have difficulty making an upcoming payment, please contact us before the payment date. Early communication gives us the greatest opportunity to support you.
Yes. You can make additional repayments at any time, above and beyond your scheduled Direct Debit amount. There are no restrictions on overpayments and no penalties for paying more than your monthly minimum.
Making additional repayments reduces your outstanding balance, which reduces your daily interest accrual, your total cost of credit, and may bring you to the 66% reload threshold sooner. Contact our team or use the platform to arrange additional payments.
There is no automatic payment holiday or pause facility within Flexi Credit. Repayments are collected on a fixed monthly schedule.
If you are experiencing genuine financial difficulty and believe you need a short-term repayment break, contact us directly and as early as possible. We may be able to agree an arrangement in appropriate circumstances, but this is handled case by case and is not a standard product feature.
Your monthly repayment is a fixed scheduled amount — capital divided by 6, plus monthly interest. There is no ‘minimum payment’ option as you would find with a credit card. You must make your full scheduled monthly repayment each month. You may pay more at any time, but you cannot pay less without contacting us to discuss your circumstances.
Applying & Onboarding
The application process has been designed to be as fast and friction-free as possible. The steps from start to funded are:
85% of multifi applications receive a decision within 24 hours. Complex cases — involving unusual business structures, additional AML checks, or manual payee approvals — may take longer.
You can help speed up your application by:
In most cases, the application is largely automated and requires minimal document upload. Core requirements are:
In some cases we may additionally request:
If you cannot connect via Open Banking, PDF bank statements (12 months) may be accepted in some circumstances. Contact us to discuss.
Yes. Open Banking is a core part of our application process. It provides a secure, real-time view of your business bank account transaction history, which is the primary data source for our credit assessment.
The connection is read-only — we cannot move money, make payments, or change your account settings in any way. You do not share your banking password with multifi at any point.
If your bank does not support Open Banking or if you have a non-standard banking arrangement, contact us and we will discuss alternatives.
Yes. Open Banking is regulated by the FCA and uses the same underlying security infrastructure as major UK banks.
Key security facts:
Once your application is approved and your credit agreement and personal guarantee are signed, your Flexi Credit facility is activated:
Accessing Funds
Once your facility is active, log into the multifi platform and:
You can draw multiple times within your 30-day funding period, provided the cumulative total does not exceed your approved limit.
Draws to your own business bank account are typically available the same day, or the next business day at the latest.
Draws to third-party payees:
New payees require an AML check before the first payment, which typically takes up to 24 hours. Once approved, subsequent payments to that payee process without delay.
Payments appear on the recipient’s statement as ‘RCH Capital’ with an editable reference.
Yes, this is a core feature of Flexi Credit. Within your 30-day funding period you can draw multiple times up to your credit limit. After the funding period closes, you can access funds again through the reload mechanism once your balance falls to 66% or below of your original limit.
This makes Flexi Credit genuinely revolving, designed to support your business across multiple cashflow cycles, not just as a one-time transaction.
Your credit limit is set at application based on your business’s financial profile, cashflow, and risk assessment. There is no automatic limit increase. Any change requires a new credit assessment.
The best time to request a limit reassessment is at the point of a reload, when your account is reviewed anyway. Consistent repayment behaviour, growing turnover, and healthy cashflow are the factors most likely to support a limit increase. Contact our team to discuss your options.
Managing My Account
Once your application is approved and your agreement is signed, you will receive a link to create login credentials for the multifi platform.
All draws, repayments, and interest charges are visible in your multifi platform dashboard. You can view your current outstanding balance, available credit, full-draw history, and repayments. The platform is designed to give you complete visibility to plan your cashflow with confidence.
Yes. Transaction history can be exported in CSV format directly from the platform, allowing you to import your multifi transactions into your accounting software or share records with your accountant.
Account suspension can occur for the following reasons:
You will be notified by email with details of why your account has been suspended and what action is required to reinstate it.
Account suspension prevents further draws but does not change your repayment obligations. Your repayment schedule remains in place.
Contact information and approved payees can be updated within the multifi platform. For more significant changes, registered address, director changes, or nominated bank account, contact our team directly at support@multifi.co.uk.
Changes to director details or business ownership may trigger a compliance review and could temporarily affect account activity while the review is completed. We will process such changes as quickly as possible.
Trust & Security
Yes. multifi operates under FCA regulatory oversight in two respects:
Credit regulation:
Payment services and electronic money:
This dual regulatory structure means both the credit product and the underlying payment infrastructure are subject to FCA oversight.
Yes. Data security is a foundational element of how multifi operates. Key elements of our approach:
multifi complies fully with the UK General Data Protection Regulation (UK GDPR) and the Data Protection Act 2018. In practice this means:
For full details of how we handle your data, please read our Privacy Policy at multifi.co.uk/privacy.
Yes. multifi is the trading name of Kactus Technologies Limited, a UK registered company (Company No. 13693616). We have deployed over £150 million in credit to UK SMEs since our launch and are a member of the National Association of Commercial Finance Brokers (NACFB).
You can verify our credentials through the following official channels:
If you have any concerns about the legitimacy of a communication purporting to be from multifi, contact us at support@multifi.co.uk before taking any action.
multifi will never ask for your bank login credentials, passwords, or one-time authentication codes. If anyone claiming to be from multifi makes such a request, do not comply. Contact us immediately.
Product Detail & Edge Cases
Once approved and onboarded, you have 30 days, known as the funding period, to draw funds up to your approved credit limit. During this window you may draw once, multiple times, partially, or to your full limit. After 30 days the draw window closes until a reload is approved.
Capital repayments begin 60 days from the start of your funding period, not from the date of each individual draw. This provides a deliberate breathing space of up to two months before capital collections start. Interest accrues from the moment you draw and is collected monthly on or after the 8th.
Existing multifi Revolving Credit Facility (RCF) agreements remain governed by their original terms and are not automatically converted to Flexi Credit. Existing customers may continue under their legacy structure, or may be invited to transition to Flexi Credit at renewal subject to a fresh credit assessment. Each case is reviewed individually.
If your Direct Debit mandate is cancelled, your account will be suspended and further draws will be blocked until a new mandate is in place. Contact us immediately to set up a replacement mandate. Do not attempt to set up a new Direct Debit independently, it must be linked correctly to your account.
Businesses with seasonal trading patterns can apply. However, highly seasonal businesses, where there are extended periods of near-zero trading, may find the affordability assessment more challenging, as we assess your capacity to service monthly repayments throughout the full 6-month repayment period.
If your business is seasonal, it may help to time your application and draw ahead of your busiest period, ensuring you have capacity to repay during slower months.
No. Flexi Credit is a working capital product designed to support business operations and growth. It is not intended for debt refinancing or consolidation, and using it for this purpose would be outside the permitted use of the product. If you need help restructuring existing debt, we recommend speaking with a qualified financial advisor.
Broker & Partner Questions
To become an authorised multifi broker partner, contact partnerships@multifi.co.uk.
Regulatory & Payment Infrastructure
Payment services and the underlying account infrastructure are provided by Modulr FS Limited, registered in England and Wales (Company No. 09897919), authorised and regulated by the FCA as an Electronic Money Institution (FRN: 900573). Kactus Technologies Limited, trading as multifi, acts as a distributor of Modulr FS Limited for the purposes of providing payment and account services to customers.
Electronic money products — including accounts held with Modulr FS Limited — are not covered by the Financial Services Compensation Scheme (FSCS). This is standard across all electronic money institutions and is not specific to multifi.
However, your funds are protected by statutory safeguarding. Under the Electronic Money Regulations 2011, Modulr FS Limited is required to hold funds in segregated accounts, separate from its own funds. In the unlikely event of Modulr FS Limited becoming insolvent, your funds are ringfenced from claims by other creditors.
For more information on how your funds are safeguarded, please see the relevant section of our terms and conditions at multifi.co.uk.
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