Flexxbuy Review

Flexxbuy is a financial technology platform that connects businesses with a network of over 35 lenders to provide customer financing options. Unlike traditional financing, which often relies on a single lender and strict credit requirements, Flexxbuy’s multi-lender approach allows businesses to offer financing to a broader range of consumers, including those with subprime credit scores. The platform streamlines the financing process by enabling customers to submit one application that is instantly sent to multiple lenders, with decisions returned within seconds. This efficiency reduces friction at the point of sale, helping businesses close deals that might otherwise be lost due to payment constraints.

Flexxbuy serves a wide variety of industries, from retail and home improvement to healthcare and education. Its core offering, the Credit Select Plus program, targets consumers with credit scores as low as 500, while the Flexx EZPay Plan provides a no-credit-check, guaranteed financing option for qualified businesses. By addressing the needs of both prime and subprime consumers, Flexxbuy positions itself as a versatile tool for increasing sales and customer accessibility.

How Flexxbuy Works

The Flexxbuy process is designed to be user-friendly for both businesses and consumers. Here’s a step-by-step overview:

1. Business Onboarding: Businesses sign up for Flexxbuy by completing an online merchant application and paying a one-time $299 platform setup fee. Flexxbuy then creates a customized loan application landing page and a unique URL for the business, which can be integrated into their website or shared via email or text.
2. Customer Application: When a customer is ready to make a purchase but cannot pay upfront, the business provides them with the unique application link. The customer fills out a simple online form, which is sent to up to 35 lenders on Flexxbuy’s platform.
3. Instant Decisions: Lenders review the application and return financing offers within seconds. Customers can choose the offer that best suits their needs, with loan amounts ranging from a few hundred dollars to $100,000.
4. Funding and Payment: Once the customer selects an offer, the business receives the funds within 1-3 business days, and the customer repays the lender in installments. Flexxbuy’s support team follows up with applicants to ensure a smooth process.
5. Merchant Dashboard: Businesses have access to a portal where they can track application statuses, view approvals, and analyze funded loans. This transparency helps merchants manage their financing operations effectively.

Flexxbuy’s platform, known as NavStars, leverages advanced technology to facilitate seamless communication between merchants, lenders, and consumers. The platform’s ability to cater to diverse credit profiles and its no-risk model—where businesses are paid upfront with no liability for customer defaults—make it an attractive option for merchants.

Key Features and Benefits

1. Multi-Lender Network

Flexxbuy’s standout feature is its extensive network of over 35 lenders, which increases the likelihood of loan approvals. By sending a single application to multiple lenders, Flexxbuy ensures that customers receive a variety of offers tailored to their credit profiles. This approach is particularly beneficial for consumers with lower credit scores, who may be declined by traditional financing options. According to Flexxbuy, its platform can approve up to 100% of consumers for qualified businesses through programs like Flexx EZPay.

2. Ease of Use

Both businesses and customers praise Flexxbuy for its user-friendly interface. The application process is quick and straightforward, with offers appearing within seconds and funds deposited within days. Merchants appreciate the customized landing pages and the ability to send applications via text, email, or website links. Customer reviews highlight the platform’s simplicity, with one user noting, “The application process was quick & simple and the Flexxbuy platform was extremely user-friendly.”

3. No-Risk Model for Businesses

Flexxbuy’s no-risk model ensures that businesses receive payment within 24-72 hours, regardless of whether the customer defaults on their loan. This feature alleviates financial risk for merchants, allowing them to focus on sales rather than collections. One business owner commented, “Flexxbuy exceeded our expectations! They handled most of the legwork by directly contacting our customers after their applications, which made the process seamless.”

4. Support for Diverse Industries

Flexxbuy caters to a wide range of businesses, including those traditionally underserved by financing solutions, such as intangible services (e.g., coaching, education) and high-risk industries. This flexibility makes it a valuable tool for small businesses, startups, and established companies alike. For example, a dog training academy reported a “smooth, easy transaction with no hassle” after using Flexxbuy.

5. Exceptional Customer Support

Customer reviews consistently highlight Flexxbuy’s responsive and knowledgeable support team. Representatives like Laura Geiger and Damian Proano are frequently mentioned for their professionalism and willingness to assist. One user stated, “Laura over at Flexxbuy is GREAT TO WORK WITH! The follow-up and customer service is out of this world!” Another review praised Damian for being “informative, thorough, and concise” during the onboarding process.

6. Soft Credit Inquiries

Flexxbuy uses soft credit pulls, which do not impact customers’ credit scores. This feature encourages more customers to apply for financing without fear of negative consequences, increasing conversion rates for businesses. A merchant noted, “They do a soft inquiry so there’s no reason why someone shouldn’t check for your business if they qualify!”

Drawbacks and Criticisms

Despite its strengths, Flexxbuy is not without its challenges. Customer and merchant feedback reveal several areas of concern:

1. High Interest Rates

Some customers and merchants have reported that the interest rates offered by Flexxbuy’s lenders can be high, particularly for subprime borrowers. One merchant expressed frustration, stating, “Did not let me know that over 50% of clients would not get credit and that interest rates could be usurious.” This issue may deter customers who are sensitive to financing costs.

2. Non-Refundable Setup Fee

The $299 one-time setup fee is non-refundable, even if a merchant does not achieve the desired results. Several negative reviews cite this as a point of contention, with one merchant claiming, “Terrible company, not a useful platform or technology, they won’t give you a refund.” However, Flexxbuy counters that the fee covers the creation of a customized environment and offers refunds in specific cases, such as if 10 loan applications are submitted without approvals.

3. Inconsistent Approval Rates

While Flexxbuy advertises high approval rates, some merchants report lower-than-expected results. A review on Trustpilot noted, “I’ve sent a couple applications through and nobody is getting approved even with credit scores that FlexxBuy stated it accepted.” Flexxbuy responded by suggesting that results improve with more applications and offering additional programs for guaranteed approvals.

4. Overwhelming Lender Communication

One significant criticism is that customers may receive excessive calls from lenders after submitting an application. A merchant reported, “Our last client to use them had 41 missed calls in ONE DAY from different lenders trying to earn their business.” This can create a negative experience for customers and reflect poorly on the business.

5. Potential for Scams

A concerning review on JustAnswer described a customer who felt scammed after being asked to deposit money to “boost” their credit, only to be denied a refund. While this appears to be an isolated incident, it raises questions about the vetting of lenders on Flexxbuy’s platform. Flexxbuy’s high trust score (77.7 on Scam Detector) and BBB accreditation since 2018 suggest it is a legitimate company, but merchants and customers should exercise caution.

Customer and Merchant Feedback

Flexxbuy has garnered a strong reputation, with an average rating of 4.9 stars across 182 reviews on Trustpilot and 4.63 stars from 70 reviews on RatingFacts. Positive feedback emphasizes the platform’s ease of use, responsive support, and ability to close sales. For instance, a web designer noted, “Their loan service specifically for small business owners is fantastic for clients who can’t initially afford my services.”

However, negative reviews highlight issues with approval rates, high fees, and lender communication. The Better Business Bureau (BBB) profile includes complaints about the non-refundable fee and misleading expectations about approval rates. Flexxbuy’s responses to these complaints demonstrate a willingness to address concerns, often offering refunds or additional support to dissatisfied merchants.

Comparison with Competitors

Flexxbuy operates in a competitive market alongside platforms like Coach Financing, Finturf, and Skeps. According to Similarweb, Flexxbuy’s top competitors include badcredit.org, coachfinancing.com, and finturf.com. Compared to Coach Financing, Flexxbuy stands out for its automated follow-up process, which reduces the need for manual communication by merchants. A review noted, “Compared to coach financing, where we had to track and communicate manually, Flexxbuy’s support allowed us to focus on closing deals.”

However, competitors like Finturf emphasize point-of-sale financing with a focus on retail, while Skeps offers similar multi-lender solutions but with different integration options. Flexxbuy’s strength lies in its broad industry coverage and no-credit-check options, but merchants should compare fees, lender networks, and customer support when choosing a platform.

Pricing and Costs

Flexxbuy charges a one-time $299 setup fee, with no monthly fees for maintaining the platform. Additional costs include a finance or discount fee per transaction, which varies depending on the lender and financing solution. While the setup fee is reasonable for businesses expecting consistent financing activity, it can be a barrier for those with low transaction volumes. Flexxbuy’s transparency about fees is a positive aspect, as they are clearly outlined in the merchant agreement.

Impact on Businesses and Consumers

For businesses, Flexxbuy offers a powerful tool to increase sales and attract customers who might otherwise be unable to afford their products or services. The platform’s ability to finance purchases from a few hundred dollars to $100,000 makes it versatile for both small and large transactions. By addressing shopping cart abandonment—a problem affecting 70% of online customers—Flexxbuy helps businesses convert more leads into sales.

For consumers, Flexxbuy provides access to financing that might not be available through traditional lenders, particularly for those with lower credit scores. The no-prepayment-penalty loans and soft credit inquiries further enhance its appeal. However, consumers should carefully review loan terms to avoid high interest rates and ensure they can manage repayments.

Conclusion

Flexxbuy is a robust customer financing solution that delivers significant value to businesses and consumers. Its multi-lender platform, ease of use, and no-risk model make it an attractive option for merchants looking to boost sales and offer flexible payment options. The company’s strong customer support and high approval rates—particularly for subprime borrowers—set it apart in the BNPL space. However, challenges such as high interest rates, inconsistent approvals, and the non-refundable setup fee warrant careful consideration.

For businesses seeking to integrate financing into their sales process, Flexxbuy is a worthwhile investment, provided they understand the potential costs and manage customer expectations regarding lender communication. Consumers should approach Flexxbuy with diligence, comparing loan offers to ensure affordability. Overall, Flexxbuy’s innovative approach and commitment to empowering businesses make it a leader in the customer financing industry, but ongoing improvements in transparency and lender management could further enhance its reputation.