Progressive Draw
Flexi
A progressive drawdown loan for borrowers who want fast access to capital on their terms. Draw what you need, when you need it, and only pay interest on the drawn amount. No other private lender offers this.
Progressive drawdown — only pay interest on drawn amount
Product Features
Fees & Charges
Flexi is unlike anything else in the Australian private lending market. It is the only product that offers genuine progressive drawdown — meaning borrowers can draw capital in stages and only pay interest on the amount that has actually been drawn. No other private lender offers this.
For construction, renovation, and staged development projects, this changes the economics completely. Instead of paying interest on the full loan amount from day one, borrowers draw down as each stage is completed and only start paying interest on that tranche. On a $2M facility where only $500,000 is drawn in the first three months, the interest saving is substantial.
Flexi also includes a built-in auto-roll feature at maturity. If the project takes longer than the original term, the facility rolls automatically rather than defaulting. Combined with the interest capitalisation option, this means borrowers can structure the loan so that no cash repayments are required during the construction or renovation phase — interest accrues and is capitalised into the facility.
Each drawdown incurs a $1,000 drawdown fee, which covers the administration and compliance associated with releasing funds in stages. Borrowers typically structure their drawdowns to align with project milestones — slab completion, frame, lock-up, and practical completion.
Flexi supports first registered mortgages only, with loan sizes from $200,000 to $10,000,000 and terms from 6 to 24 months with option to extend. It covers capital cities and select metro locations. Income is self-declared, and there is no minimum credit score.
For brokers, Flexi is a genuine differentiator. When a client needs staged capital for a build or renovation and the banks are too slow or too rigid, Flexi provides a solution that no other private lender can match. The progressive drawdown model is a compelling selling point that wins deals.
For owner-builders in particular, Flexi fills a gap that banks simply will not touch. Most banks will not lend to owner-builders at all, and those that do require extensive documentation and qualification. Flexi assesses on property value and project viability, not on the borrower holding a builder licence.
Use Cases
When to use Flexi.
Staged Construction
Building a new property or completing a significant construction project. Flexi releases capital at each milestone — slab, frame, lock-up, completion — so you only pay interest on what has been drawn. This significantly reduces your holding costs during the build phase.
Renovation Completion
Bought a property that needs work before it reaches its full value. Flexi funds the renovation in stages, with interest only accruing on drawn amounts. Once the renovation is complete, refinance to a bank at the improved valuation.
Owner-Builder
Banks will not lend to most owner-builders. Flexi fills that gap with progressive drawdown, no income verification, and no minimum credit score. Draw capital as each stage is completed and manage your build on your own terms.
Phased Capital Deployment
You have a multi-stage business plan that requires capital at defined milestones rather than all upfront. Flexi provides a facility you can draw from as needed, reducing your interest burden and giving you flexibility over timing.
Frequently Asked Questions
Flexi FAQ
What is progressive drawdown?
Progressive drawdown means you do not receive the full loan amount upfront. Instead, the facility is established at the approved amount, and you draw capital in stages as needed. Interest is only charged on the amount that has been drawn — not the total facility. This can significantly reduce your interest costs, especially on construction and renovation projects where capital is needed in stages.
How does Flexi's auto-roll work?
If the loan reaches the end of its initial term and you need more time, Flexi automatically rolls into an extension period rather than going into default. This is built into the product — there is no renegotiation or penalty. It provides a safety net for projects that take longer than initially planned, which is common in construction and renovation.
When should I choose Flexi over Boost?
Choose Flexi when you need capital in stages rather than all at once. If you are building, renovating, or deploying capital over time, Flexi's progressive drawdown model means you only pay interest on what you have actually drawn. Choose Boost when you need the full amount upfront and speed is the priority.
What is the drawdown fee?
Each drawdown from a Flexi facility incurs a $1,000 fee. This covers the administration and compliance work associated with releasing funds — including verification of project progress, valuation updates where required, and funds transfer. Most borrowers structure 3-5 drawdowns aligned with project milestones to keep this cost manageable.
Related Resources
Learn more about Flexi
What is Bridging Finance?
Understand bridging finance and how progressive drawdown differs from standard bridging.
How LVR Works
Learn how LVR is calculated and what it means for construction lending.
Bridging Cost Estimator
Estimate total costs including drawdown fees for staged projects.
LVR Calculator
Check your loan-to-value ratio and available equity.
Lending Glossary
Definitions including progressive drawdown, capitalised interest, and auto-roll.
For Brokers
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