If your small business could benefit from extra cash flow without the long-term commitment of a loan, then FlexiPay could be right for you. 

FlexiPay is a line of credit and business credit card designed to give small businesses more flexibility with their finances. There’s no interest or annual fee, just a simple flat fee on each transaction.

Thousands of businesses are already using FlexiPay. Here are 10 ways FlexiPay can help your business. 

1. Spread costs

VAT, rent and other quarterly bills can create pinch points in your cash flow, which can put the squeeze on other areas of your business. FlexiPay breaks down these costs into three equal monthly instalments, helping to spread those peaks into a more manageable, smooth cash flow that puts you in control.

2. Make everyday purchases on the go

From train tickets to team lunches, your FlexiPay business credit card allows you to pay for your everyday expenses, as well as bills, supplier invoices and big-ticket items. It is a VISA card, so you can use it online, in store, and for recurring payments.

3. Reduce costs

By using FlexiPay to pay upfront or buy stock in bulk, you could take advantage of discounts, helping to reduce your costs. Our customer Vik, who owns 8 Rocks Deli & Wine, used his line of credit to do just that, telling us: “We sell over 120 different wines, so FlexiPay means I can buy in bulk and buy more for less, as I have been able to negotiate discounts of up to 10% on wholesale prices.”

4. Bridge cash flow gaps

Whether it’s caused by shipping issues, project delays or other problems, when an incoming payment is late it can leave a hole in your cash flow. Fortunately, FlexiPay is here to plug that gap, so you can pay your suppliers on time and keep a good reputation. 

5. Seize opportunities

You never know when an opportunity will appear. With FlexiPay on hand, you have more control in how you manage your cash flow, and more freedom in your business decisions. Want to pay your bills this month to free up cash flow? Found the vehicle you need at a discount price? Want to hire an extra contractor to fulfil a project? FlexiPay can help make it happen.

6. Keep your staff happy

It’s essential that your employees can rely on being paid on time. If an incoming payment is late but you’ve got wages to pay, FlexiPay can help ensure your staff still get paid. Use it to make the payment that’s due upfront, and then repay over the following three months when you’ve received the money you’re owed. 

7. Simplify your finances

By offering transfers as well as a card, FlexiPay offers more flexibility than a traditional business credit card. What’s more, you only pay if and when you use it, and you can use it as much or as little as you like. You’ll be charged one simple, flat fee per transaction, so you’ll always know what you’re paying. No interest, no surprises.

8. Prepare for the unexpected

If the last few years have taught us anything, it’s to prepare for the unexpected. Contingency planning has become a key area for businesses of all shapes and sizes, and extra credit on hand when you need it is often vital. FlexiPay is free to set up and you only pay when you use it, so it’s a fantastic option if you’re looking for some added insurance in your cash flow. 

9. Manage from anywhere 

Login from anywhere on desktop or mobile app, with all the functionality at your fingertips. You can see all your card transactions in one place, transfer directly to suppliers, and pay HMRC and business bills.

10. Stay on top of your finances 

FlexiPay allows you to stay on top of your finances wherever you are. You can track all your previous transactions and see any upcoming payments. Card transactions are grouped together in a monthly balance and repaid over three months for a flat fee, helping to streamline your payments and stay on top of cash flow.

If it sounds like FlexiPay could help your business, you can find out more and check your eligibility in just 30 seconds here.

05/01/24: While we want to help as much as we can, the information found here is provided solely for informational purposes and should not be considered financial or legal advice. To the extent permitted by law, Funding Circle does not accept any liability for any loss or damage which may arise directly or indirectly from the use of, or reliance on, the information contained here. If you have any questions, please speak to your professional adviser or seek independent legal advice.