Get started with a business loan
We do business loans without all the hassle. Apply for £1,000 to £500,000. If you’re approved, you can draw the money right away and start investing in growth plans.
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Fund your future with a business loan
No early repayment fees
If you want to repay early that’s great. We’ll never charge a fee for that. In fact, more than 20% of our customers repay ahead of schedule in their first six months.
Easy application
We’ve designed our application process to be as slick as possible: link your bank account and get going in minutes.
No hanging around
Once you’re approved, we’ll ping the money straight to your account. And if you need more later, you can apply for a top-up.
How our business loans work
Apply in minutes
It takes five minutes from start to finish. We've designed our business loans with small businesses in mind, so we'll just need the basics about your business to make a decision.
Use your funds
We'll approve you based on your business performance. You then transfer as much as you need to your bank account, and the funds will typically be in your account in hours.
Repay or top up
We don't charge early repayment fees: we only charge interest for the days you have the money. If you need more funds, applying for a top up is easy. As your business grows your credit limit will too.
Frequently asked questions
How iwoca loans work and who is eligible? If there’s anything we haven’t covered here, check our FAQ
We're happy to consider a wide range of businesses ranging from new startups to established companies. However you must have a UK-based business and operate as a limited company or a partnership. Startup businesses are limited to a maximum credit limit of £10,000.
We will approve your business for £1,000 to £500,000. Your credit limit is typically around one month’s revenue. As your business grows we are happy to increase this limit.Yes, we have a sponsorship licence. Not every role will be suitable for sponsorship as per Home Office regulations but we are more than happy to discuss that with you.
Our maximum term is for up to 24 months but you can always repay early if you don't need the funding for that long. We only charge interest for each day you have the funding so making early repayments is a great way to reduce the total amount of interest you will pay.
No. It’s free to get a quote - you only choose whether to go ahead once you have received an offer.
We're generally happy to offer topups, provided your business performance continues to be strong and you have paid off at least one third of your original loan. You may need to provide updated bank statements or other documents before you top up your loan – your account manager will be happy to advise.
Of course. We will renew your offer once your loan has ended, assuming your circumstances have not changed. If your business has grown we may even be able to increase your credit limit or reduce your interest rate. Then it’s just a matter of logging in to your account to withdraw the funds.
No worries, we’re sure you'll get there soon. Give us a call on 020 3397 3375 if you want us to take another look at your business after a few months and we will see what we can do.
No. iwoca offers unsecured loans with no asset requirements. For limited companies we do ask for a personal guarantee, typically from a company director.
Not exactly: all our loans have a variable interest rate. If you draw down more money with us after your first funding, we might be able to offer you a different interest rate on the next funding. We can’t change your interest rate without your consent, though.
If we offer you a different rate, we’ll make sure to explain the change on your iwoca account or through a call with your account manager. Then you can decide if you want to go ahead with drawing down more funds.
Questions? We're here to help
Call us at 020 3397 3375 from Monday to Friday (9am - 6pm). We can take your business loan application over the phone, or answer your questions about applying online.
£3 billion+
approved small business loans
90,000+
businesses approved
