Piper PA46 M350 / Mirage Hold issued at 1/4 mile from IAP with Flap Fail.

I was 1/4 mile from CISPO the IAF on the RNAV 05 at KMWO when controller asked me to hold as published. Then the Flaps Failed at 1/2 on short final. This is all after a 2 hour flight picking my way thru T-Storms.