Cash Flex | Compare Personal Loans - lender
Last updated: 20th Jan 2020

Cash Flex Review

1. Intro

Cash Flex is a short-term credit broker in the UK offering its customers access to multiple lenders in its pool to secure both guarantor and non-guarantor loans between the amounts of £100-£5,000. The broker has a short application process and delivers an approval decision within minutes of the loan application. Borrowers can repay a loan over a loan term of 3-36 months, depending upon the loan amount. The company behind Cash Flex is called Digitonomy Limited, and the broker is authorised and regulated by the Financial Conduct Authority.

Also Read: PiggyBank Loans Review

2. Types of loans

Cash Flex facilitates the borrowing of short-term guarantor and non-guarantor loans.

Loans are offered with varying loan terms, depending upon the loan amount:

  1. £100-£900 are available for loan terms of 3, 6, and 9 months;
  2. £1,000-£1,099 for 3-36 months;
  3. £1,100-2,000 for 6-36 months;
  4. £2,100-£5,000 for 12-36 months.

Short-term borrowing is usually required when borrowers face an urgent need for cash due to an unexpected expense or to meet one-time expenses due to insufficient savings.

Loans are granted to applicants with varying credit histories, including those with a poor credit rating although those loans would either require a guarantor or charge a very high APR.

Loans requiring a guarantor need to be co-signed by a family member or friend of the borrower, whereby the guarantor assumes responsibility of paying off the loan in case the borrower fails to do so, for whatever reason.

  • Since guarantor loans are secured, they usually charge a cheaper APR compared to unsecured short-term loans.
  • However, the guarantor that co-signs the loan agreement needs to have a good credit history and also prove affordability to honour the loan payments in case the loan obligation transfer to them.
  • Guarantor loans are a great option for borrowers with a bad credit score as these are secured by a guarantor and hence have a higher approval chance compared to unsecured non-guarantor loans.
  • Guarantor loans are available through Cash Flex offering amounts between £1,000-£5,000 with loan terms spanning between 3-36 months.

As for non-guarantor loans, which are also available with the lenders in the Cash Flex pool, borrowers do not need anyone to cosign the loan with them. However, these loans may carry a higher APR compared to guarantor loans. Also, borrowers applying for a non-guarantor loan need to show sufficient income to make the loan repayments.

  1. Non-guarantor loans are available through Cash Flex between loan amounts of £100-£5,000. These come with a loan term between 3-36 months, depending upon the lender.
  2. The application processing time is faster in the case of non-guarantor loans compared to guarantor loans.

Since Cash Flex has many lenders in its pool that offer various types of loans, the broker is in a good position to connect applicants with the most appropriate loan available for them. The broker also has an online algorithm that is able to provide applicants with a personalized quote within minutes, which only requires applicants to fill out a one-page form.

3. Eligibility Criteria

Cash Flex is a broker, hence it has a very basic eligibility criteria that is commonly required by most lenders and brokers in the UK. Applicants should expect the lender they ultimately choose to borrow from to have its own eligibility criteria in addition to the one stated by Cash Flex. According to Cash Flex, applicants should:

  1. Be over the age of 18
  2. Have their own valid bank account in the UK with an operational debit card
  3. Provide evidence of sufficient regular income of at least £750 per month

Applicants can find out if they are eligible by filling out the one-page form available on the Cash Flex website called FastCheck. This check does not leave any footprint on an applicant’s credit file, requires only 2 minutes to be filled in, and provides a verdict to the applicant about their eligibility for their desired loan almost instantaneously.

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4. Pros & Cons

The broker services being offered by Cash Flex have the following pros & cons:



  1. Borrowers are able to secure both guarantor and non-guarantor loans

Usually brokers operating in the UK offer loans that pertain to only one category of credit. For example, brokers usually facilitate applications for either guarantor or non-guarantor loans. However, Cash Flex has a pool of lenders that offer both kinds of loans, and these loans have further sub-categories as well. This means that an applicant would be applying to various lenders offering many types of loans, all at once with a simple application form. Eventually, borrowers can expect to find a good quote through Cash Flex.

  1. Borrowers can find out their eligibility for a loan even before they fill in the application form, without a charge

Many brokers and lenders deliver a verdict on a borrower’s eligibility for a loan after the initial application form has been submitted. But Cash Flex has a dedicated tool on its website called FastCheck that allows applicants to find out their eligibility for a loan before they fill out the application form. The FastCheck tool is a simple one-page form that only requires a couple of minutes to be filled, and results are delivered immediately to the applicant. This saves applicants a lot of time. Also, using the FastCheck tool is completely free.

  1. Accepting applications throughout the year

Since the application process is completely online, applicants can apply for a loan through Cash Flex any time of the day, any day of the year. Once an application has been approved, borrowers can expect to see the funds in their bank account within a few minutes, depending upon the processing speed of the lender.

  1. Offering same day loans

Applicants can apply for a loan through Cash Flex and expect to receive it within the same day, depending upon the lender’s loan application processing time.

  1. No obligation on the borrower to accept a loan offer

Once a loan offer has been made to the borrower, it is up to the borrower to either accept or reject it without the decision having any impact on their credit rating or ability to secure a loan in the future. Borrowers may even apply again for a loan through Cash Flex for a different loan offer.

The following cons may be experienced by a borrower when they apply for a loan with Cash Flex:



  1. Borrowers may not get the loan they are looking for

The loan that is offered to the borrower through Cash Flex may not be according to a borrower’s preferences. For example, a borrower looking for a non-guarantor may be offered a guarantor loan, which may not be possible for the borrower to obtain due to non-availability of a suitable guarantor. This can end up wasting time for the borrower.

5. Borrowing costs of loans taken out through Cash Flex

The broker has quoted a representative APR of 49.9% on its website.

For example, if a borrower takes out a loan amounting to £1,200 for a period of 18 months, the total that would need to be repaid, including the loan principal and accrued interest, is £1,628.28.

The broker does not charge any fee during its application process. However, lenders may charge an origination fee. The broker earns through commission that is charged to a lender after a loan agreement has been signed.

The following table illustrates the different loan scenarios borrowers may experience when they apply for a loan through Cash Flex.

Loan TypeLoan AmountLoan TermTotal RepayableCharge of Credit
Short-term loan£50018 months£678.45£178.45
Short-term loan£3,50018 months£4,749.15£1,249.15

6. Information Required To Apply

Applicants need to have the following information on hand in order to apply for a loan through Cash Flex:

  1. Details pertaining to the loan including the loan amount, loan term, and the reason for seeking the loan
  2. The applicant’s biodata including:
    1. full name,
    2. date of birth,
    3. email address,
    4. mobile phone number,
    5. home phone number,
    6. a daytime phone number (if available),
    7. applicant’s marital status, and
    8. number of dependents.
  1. Address information including
    1. Home status
    2. Years the applicant has lived at this address, and
    3. Postcode
  1. Employment status of the applicant
  2. Monthly expenditure including rent, loan repayments, utility bills, transport costs, food costs, and any other expenses.
  3. Bank details including account number and sort code.

It should be noted that individual lenders may require additional information to process the loan application. This would be communicated by the lender directly, or through Cash Flex.

7. How To Apply

The application process to apply for a loan through Cash Flex requires applicants to follow these steps.

Before filing an actual loan application, applicants need to figure out whether they are eligible to apply for a loan through Cash Flex. This can be done by using FastCheck, a tool available on the Cash Flex website.

To access FastCheck, applicants need to go on the Cash Flex website at, and on the homepage (shown below), click on the Try FastCeck button on the bottom right in the middle of the page.

Step 1

FastCheck is a simple one-page form, as shown below. Applicants simply need to fill in the required information and click on the Am I Eligible button at the end of the form to get an immediate verdict.

Step 1Step 1Step 1

Please note that this is not an approval for a loan, rather a tentative decision provided by Cash Flex to applicants, indicating whether they have a good chance of securing a loan through its service. Also, applicants may choose to skip this step and go directly to the second step without any impact on their application, as an eligibility assessment will still be done by Cash Flex during the second step.

After an applicant confirms their eligibility for a loan through the FastCheck took, they need to fill out the initial application form. The application form can be accessed through the homepage (shown above) by selecting the desired loan amount and loan term and clicking on the Get My Personalized Quote button. Another one-page form will open, very similar to the FastCheck form however requiring a few additional details pertaining to an applicants income. This form is shown below.

Step 2Step 2Step 2Step 2Step 2

After filling out this form, applicants need to click on the Get my personalised quote button to proceed.

Cash Flex will process the loan application through its algorithm and deliver a verdict within minutes about an applicant’s eligibility. Then, lenders may require additional information that the applicant is expected to provide. After this, the broker will provide applicants with loan offers which they may choose to accept or reject.

In case a loan offer is accepted and the loan agreement is electronically signed, the lender would disburse the loan amount into the borrower’s bank account in a few minutes.

8. FAQs

Yes, applicants can get both guarantor and non-guarantor loans through Cash Flex even if they have bad credit, provided they meet the income requirements and other eligibility criteria, are not bankrupt or part of an IVA, and have an eligible guarantor (for guarantor loans).

Cash Flex has a short application process which takes only a few minutes. However, lenders, especially those offering guarantor loans, may take longer to process the loans. Once approved, the amount may reach a borrower’s bank account within minutes.

Cash Flex is a broker helping its customers secure both guarantor and non-guarantor loans.

No, Cash Flex does not charge any fee to the borrowers for processing loan applications.

A guarantor can be a family member or a friend, someone who is willing to cosign the loan agreement and thus honour the loan obligation in case the borrower fails to do it. They also need to have sufficient income, not be a guarantor on any other loan, be a homeowner or a tenant in good standing, and not be the borrower’s spouse.

9. Lenders/Brokers Like Cash Flex

Cash Flex is offering credit broker services in the UK, but it is certainly not the only broker option at your disposal. The following brokers are also providing similar services, however they may be better for you considering your individual needs. These brokers have also been reviewed and rated by Credit Raters.

Get My Loans (Instalments Loans Broker)Get My Loans is a loans broker in the UK facilitating the provision of instalment loans between the amounts of £100-£3,500. The loan term spans between 2-24 months, and the representative APR is 97%.
Swift Money (broker)Swift Money is a loan broker facilitating the provision of loans between the amounts of £100-£3,500 for a loan term of 1-24 months. Loans sought through Swift Money have a representative 815.74% APR.

10. Promo Codes

No promo codes are available for Cash Flex at this time.