A Flex Loan is a type of capital option that allows merchants to receive additional funding which is repaid as a percent of their daily sales rather than a fixed amount each month like a traditional loan. This allows merchants to more easily repay the amount since it’s flexible around their sales volume. The other major benefit is the ease-of-use since merchants are pre-qualified based on their sales history with the point-of-sale (POS) and/or PayFac which means no credit check and no long application process.
The need for a product like this is huge, 88% of SMBs rely on an owner’s (personal) credit score to obtain financing and >50% of SMBs see obstacles to obtain finance especially with prices, collateral and paperwork.
| Brand | Available |
|---|---|
| Bottle POS | ✅ |
| C-Store POS | ✅ |
| CellSmart | ✅ |
| Cigars POS | ✅ |
| DiveShop 360 (360 POS) | ✅ |
| eTailPet (ETP) | ✅ |
| GrazeCart | ✅ |
| IT Retail (ITR) | ✅ |
| LifeSaver | ✅ |
| Markt POS | ✅ |
| PowderCoat360 | ✅ |
| Rain Retail (Rain Payments) | ✅ |
| Brand | Available |
|---|---|
| Adyen | ✅ |
| Stripe | ❌ |
Merchants are qualified automatically and email offers are sent as soon as they do. They cannot request to be approved since it’s based on their sales history.
Every day anonymized data for Merchants is sent to Parafin, once the merchant qualifies for a flex loan an automated campaign launches to let them know about the additional revenue source that is available to them with the flexible repayment options.
Parafin is the company we’ve chosen to partner with to offer this to our merchants. They handle all the support and sales interactions so all we need to do is provide the data and extend the offer to the merchants.
All data sent to Parafin is anonymized in compliance with our terms of service. Only once the merchant accepts the offer and agrees to have their data shared do we pass the business information.
More information can be found here: