Small business lender Fleximize launches rate comparison tool

Fleximize, the alternative small business lender founded by Peter Tuvey, has launched a comparison tool to help UK small and medium-sized businesses get a fairer deal on their finance.

With commercial finance providers not obliged to disclose their annual interest rate or any other comparable rate of funding, Fleximize claims its service helps businesses compare the cost of borrowing on a range of different rates.

This means they can compare the cost of one quote that’s based on a factor rate and another that’s based on a monthly interest rate.

Tuvey commented: “At Fleximize, we believe that business finance should be fairly priced fairly and transparently, With some lenders hiding the cost of their loans behind unconventional rates, business owners can end up paying more than they thought for their funding.

“We hope that our rate comparison tool will educate business owners about these less conventional rates, and ensure that they get the best possible deal for their business.”