Questions about FlexFi and how we can help you

FlexFi Information

What does FlexFi do?

FlexFi is an online lender, here to help clients get an affordable loan. You shouldn’t have to pay the extremely high fees of payday lenders. We want to make sure as many people as possible get access to the loans they need from a professional and transparent lender.

Which areas do you serve?

Currently we can offer loans to residents of BC, Alberta, Manitoba, and Ontario.

Do you offer payday loans?

No, we only offer instalment loans. These are much cheaper than payday loans and we believe they are more likely to help our clients stay away from the cycle of payday loans. In addition, we can help you improve your credit score (if you maintain a good repayment record), which in turn can help you access cheaper credit and save thousands of dollars.

How are you different from a bank?

The biggest difference is that we actively look for ways to help you when banks don’t want to help. We are also much more flexible and look at more than just your credit score. We know you are more than a score and we consider your overall financial picture. We are also faster than banks. If you submit a complete application, we can approve you within a day.

How do I contact you?

Call us on our toll-free number 1 844 4 FlexFi (35 3934) or e-mail us: info@flexfi.ca.

How do I provide feedback or report a problem?

We love to hear from our clients and value the feedback we receive from them. Call us on our toll-free number 1 844 4 FlexFi (35 3934) or e-mail us: info@flexfi.ca.

Do you have a referral program?

Most of our clients have been referred to us by other past clients we have been able to help. We value and welcome your referrals. Please contact your FlexFi Advisor for more details about our referral program.

How do you handle my personal information?

We take the privacy of our clients very seriously. As a responsible company FlexFi only uses your personal information for purposes related to your loan application and loan administration. We have a comprehensive privacy policy, the details of which can be found on our website.

Why do you have a Financial Education section on your website?

We believe everyone can benefit from better financial knowledge. While money cannot buy you happiness, having a certain degree of financial security can make life much more pleasant. Our educational section provides knowledge on important areas related to personal finance. Our hope is that we can contribute in providing better financial knowledge, and hopefully a less stressful life.

About FlexFi Loans

How do I apply for a loan?

Applying for a loan at FlexFi is simple, quick and secure. You can apply for a loan online from the comfort of your home. You may also contact one of our friendly advisors and they will be happy to assist you throughout your loan application.

How much can I borrow?

This depends on the strength of your application and your previous history with us. Most first time FlexFi borrowers are approved for up to $2,500. Returning clients with a good repayment record can often qualify for a higher loan amount. You can refer to our calculator to get a rough estimate of your payments for various loan amounts.

How long does it take for my loan to be approved?

Once we receive all of the required information and documents, your application can be processed within one business day.

If I have poor credit can I apply for a loan?

Yes. We look at more than just your credit history. We know anyone can get into financial difficulties. What we look for are responsible borrowers.

What do I need to apply?
  • Show employment income
  • Provide last 3 months’ bank statements (easily done online)
  • Provide your ID
  • Provide references

In some cases, we may need additional documents and/or a co-signor to strengthen your application.

Do you check my credit score?

Yes, but we look at many factors when evaluating your application. Your credit score is only a small part of the overall picture. Many of our clients have less than ideal credit history but we are still able to help them.

Why is it important for me to read and understand my loan agreement?

Your loan agreement is a legally binding document. It is very important that you read this carefully and make sure you fully understand it. It may also be a good idea to review the agreement with a lawyer if you are not fully clear about the agreement.

I have paid off my previous loan, can I apply for a re-loan with FlexFi?

Yes. We would be glad to help you if the need arises. Depending on the province of your residence different rules and policies apply. Please contact us for further information.

If I have a bankruptcy or Consumer Proposal can I still get a loan?

In some cases, yes. Many of our clients have had financial challenges in the past. Unlike most banks, we are still able to help such clients in some cases. Please contact a FlexFi Advisor to review and discuss your situation in detail.

Repaying Your FlexFi Loan

How do I repay my loan?

Easily. When you apply, you give us authorization to debit your account on the scheduled days. Your payments are then deducted automatically from your account.

Can I repay my loan faster?

Yes, you can payoff your loan anytime you want or make extra payments without any additional fees or penalties

When is my first payment due?

The date of your first payment will be discussed and agreed with you prior to finalising and signing the loan agreement.

I’m not able to make my payment this month, what can I do?

If you are unable to make your payment at any time, we ask that you contact us at least 3 business days before your payment is due. Together we will find a solution that works for you. Contact us info@flexfi.ca or call 1-844 4 FlexFi

Does FlexFi report to the credit bureaus?

Yes, and this is a great opportunity for you to build your credit history – assuming you make your payments on time. When you make your payments on time, we report this to the credit bureaus. This demonstrates that you take your obligations seriously and are therefore a reliable borrower.

What happens if I miss a payment?

If you know you will miss a payment you should contact us at least 3 business days in advance to discuss alternative arrangements. Otherwise you will be charged an NSF fee. Your bank or financial institution will most likely charge you an NSF fee also. These can add up. Therefore, please make sure you contact us as soon as you feel you may have a problem.

About Backers

What are Backers?

Backers back your loan by agreeing to pay off your loan if you don’t pay. They act as co-signers on your loan and are kept informed if a problem arises.

If your credit history and application is not strong enough, then adding a backer will help increase your chances of approval since it helps build your trust.

Who can be my Backer?

A backer is someone you trust and someone who trusts you. They can be your friends or family (not your spouse). Anyone who knows you well enough to be willing to co-sign for your loan. We have the same requirements for the Backers as for the primary loan applicants.

As a Backer, what are my obligations and what do I need to know?

As a backer, you are acting as a co-signer on the loan and you are agreeing to pay off the loan if the primary borrower is unable to. If that happens you will be responsible for any missed payments. You should only act as a backer if you have confidence in the ability of the primary loan applicant to fully repay the loan.

We inform the backers of all and any missed payments.