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A NEW, fast, flexible line of credit for Australian SMEs

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Moula Flex is available exclusively to Xero Customers

As Australia’s leading online lender to small business, Moula is proud to introduce MoulaFlex – a fast and flexible business line of credit designed with Xero in mind:

  • Funding available for drawdown for up to six months from being approved
  • Principal and interest repayments due over a 12 month period from drawn
  • No establishment fees, no drawdown fees and no fees for early prepayment

Moula Flex is available to small businesses requiring frequent access to short-term working capital at responsible interest rates and on flexible terms.

Moula Flex FAQs

Not at all. Moula Flex is a business line of credit available for all strong SMEs operating for over 24 months, that from time to time need access to funding.

No, if undrawn, there are no ongoing costs of this business line of credit (and no upfront costs); once drawn, fortnightly repayments of principal and interest are made such that the drawn amount amortises (reduces) down to zero over a 26 fortnight (one year) period.

Our MoulaTerm loan amortises over a fixed period, and any repayments of principal made cannot be re-borrowed. A borrower can always come and reapply with more, and a new full credit assessment will be conducted, as well as the potential for running a new credit check.

With MoulaFlex, once your business is approved, the business has a six-month period within which to use (or not) the facility; other than some high-level checks (to ensure the business is still in great shape), drawing is fast and we will not put a credit enquiry footprint onto your credit record during the remaining term of your Flex loan.

Just like the Moula term loan, there are no costs to enter this business line of credit product and there is no cost to prepay.

Think of Moula Flex as providing certainty of funding availability for the times when your business needs funds fast.

No. We will conduct a credit check at the initial assessment, but after that point, we will not impact your credit file with new enquiries during the term of your MoulaFlex loan.

Unfortunately, we need access to Xero in order to provide this product today; we are working hard to open up this business line of credit product to all small businesses irrespective of accounting software; watch this space!

Our rates are between 0.75 and 2% per fortnight on the outstanding loan balance. We like to keep our pricing simple, so our repayments include principal plus interest, and nothing else. We have no establishment fee, no direct debit fees, and no penalties for early repayment.

When we offer MoulaFlex to an SME, the business line of credit facility is available for six months, allowing the business to draw down and repay as funds are required or funds are surplus; (always refer to our terms and conditions for more details).

There are two ways that the funds we provide are repaid:

  1. At each drawdown, Moula will calculate a repayment schedule that would result in the outstanding balance being fully paid down over a one-year timeframe (in fortnightly instalments), and
  2. Should you wish to repay faster, there is always the option to prepay (again at no cost other than the accrued interest for the fortnight)

Correct we think this is an important feature for small businesses, a fixed repayment schedule provides good discipline for small businesses to reduce borrowings down systematically (and keep the lid on interest costs), while at the same time not creating a significant refinancing risk headache at the end of the term of the loan.

We think small businesses prefer this amortisation feature. And remember, as principal as being repaid through fortnightly repayments (or prepayments), the unutilised amount under the MoulaFlex facility is increasing, which is available for drawing by the borrower during the facility period.

None! No cost to set up no cost to exit, just a great, flexible funding lines for great, ambitious small Aussie businesses. What more could you ask ? Terms and conditions of the product are available to understand the conditions to drawing et cetera.

If you’re ready to start you can get started with our simple online application. If you’re an existing customer simply log in.  You can apply for funding and, if your business meets our Moula Flex underwriting thresholds, we will offer the choice of the Moula Term loan or Moula Flex business line of credit. You can then choose which product best suits your business needs.

Why wouldn't a business want a bit of Flex?

If you’re looking for a trusted, flexible business line of credit with no hidden fees and no hassle…

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