Business loans.
Simplified.
Borrow £1,000 - £1 million to buy new stock, invest in growth plans or just keep your cash flow smooth.
24 hours to get a decision
No fees for repaying early
Top-ups available
How does an iwoca business loan work?
Apply online in 5 minutes
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.
Get approved within 24 hours
If you’re approved for a business loan, you can transfer as much as you need over to your bank. The money should hit your account within hours.
Repay early for free
Your repayment schedule will depend on your circumstance and you can always overpay or repay earlier for free.
Apply online in 5 minutes
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.
Get approved within 24 hours
If you’re approved for a business loan, you can transfer as much as you need over to your bank. The money should hit your account within hours.
Repay early for free
Your repayment schedule will depend on your circumstance and you can always overpay or repay earlier for free.
We keep our prices simple
We’ll only charge interest on your outstanding balance for the days you’re using your business loan – no early repayment fees, no long-term commitments. Our business loan rates start at 2% a month for a Flexi-Loan, depending on your business.
6 monthly repayments of £1,120
Total repayment of £31,685(3.33% interest rate per 30 days)
This loan calculator is only an example, your actual rate for your business loan will vary based on your circumstances. Here’s another example: if you borrowed £10,000 for 12 months at 49% representative APR, with an interest rate of 40% p.a. (variable), then, all in all, the total amount you’d repay would be £12,294.
What you need to get started
We can accept applications from all businesses (no matter the age or industry), in fact all we ask is:
you’re based in the UK
you’re a limited company or a partnership
All you need to have to hand:
basic details about the business
bank statements from the last year (or you can link your account via Open Banking)
Ready to apply?
Apply nowThe document requirements may change according to the loan size and type of company
We're here to help you grow
We take care of the loan; you get back to business. Like these happy customers:
With iwoca's reasonable rates and amazing staff, we were able to quickly obtain a loan to purchase equipment before our grand opening. Sophie was very supportive and walked us through the process.
Nails and Cocktails
Cecilia
iwoca helped to stave off a shortfall when our first rent payment was due, I didn’t have enough to pay for everything because the centre was so new. Applying for funding through iwoca was very straightforward.
Aldershot Soft Play Centre
Paul
We had an opportunity to stock a unique bike brand that nobody else in the country was selling... Getting funding from iwoca was a big step for us but it made a massive difference.
Hub Vélo
Mike
We use iwoca finance for our advertising and it always generates an amazing return on investment. iwoca is my go-to when I require quick funding to help me run successful marketing campaigns.
Rebecca Lockwood (trainer for female entrepreneurs)
Rebecca
These are only some examples of what you can do with the funds
Apply now
Stephen Gee
Gee Ski Ltd
You think you’ve thought of everything, then something else crops up. That’s where iwoca came in, to help us bridge those gaps.
Ian Hoyos
Champs Barbers
When you’re a small business you need to move fast. Dealing with banks is a long process. Dealing with iwoca was definitely a lot more efficient.
Carl Douglas
Carl Douglas Racing Shells
iwoca’s funding allowed us to get on with the job, when otherwise we would have run into a brick wall. It’s a friendly relationship. The simplest possible process with the greatest help.
Tracy Sambrook
SEB Brewing
With iwoca, we could keep investing in kit, equipment and a new facility. So we could keep our standards high.
Tom Seaton
Crate Bars Ltd
iwoca was definitely the simplest loan I’ve ever taken out in my life. Last year we launched our product in Tescos and needed more working capital. iwoca helped us do that.
Jonathan Hamp
Thermapply
What I like about iwoca is the quick turnaround. It gives you a sense of security.
Our business loans: loved by over 90,000 small businesses (and big names) since 2012
Tom Hyde
Brew Lab
We have a good relationship with our bank, but the bank moves really slowly. That’s why iwoca is so useful. They’re very fast and very responsive.
Tim Law
Simply Plants
The process has been easy, uncomplicated and very quick. Their service is excellent with regular contact and support. I highly recommend this company for any business that needs finance.
Cecilia Downer
Nail and Cocktails
With iwoca's reasonable rates and amazing staff, we were able to quickly obtain a loan to purchase equipment before our grand opening. Sophie was very supportive and walked us through the process.
Mash Seriki
Healthcare Learning Ltd
The speed at which iwoca can respond to us is critically important for us to put on a fantastic program. They understand that you can blend technology with that human interaction.
Olivia Smith
Olivia and Pearl
iwoca was a breath of fresh air. We got an okay on our loan within a couple of days and they went above and beyond to help me get our project off the ground.
Alex Harris
Behind This Wall Ltd
Borrowing for business can be intimidating but iwoca have always been on hand for me to provide flexible options. They take the stress out of cash-flow issues and allow you to focus on what you do best.
Frequently asked questions
Here are some questions our customers ask. Check our FAQ for anything we haven't covered.
Will applying for a business loan affect my credit score?
We only run soft credit checks which means applying won’t affect your credit score. But if you decide to draw down funds from us, the business loan will show up on your credit report.
Can I repay early?
Yep, some of our customers repay early to save on interest. If you want to make extra repayments or pay off your business loan early we won't charge you any fees. (And don't worry - you’ll never find any sneaky small print surprises with us.)
How are you different from a bank?
Even though we offer business loans, we’re not a bank. We’re an independent company custom-built for small businesses – and our goal is to provide straightforward access to finance where and when your business needs it.
How long does it take?
It takes 5 minutes to apply and in almost all cases you'll get a decision in 24 hours.
What do your customers use their business loans for?
Generally, they put the money to short term investments, like extra stock. Or they use it to help with cash flow, like if they're waiting on an invoice.
What if I need more?
With a Flexi-Loan, once you've paid back a third of your original credit limit, applying for a top up is easy. We'll just need updated information about your business.
How to get a business loan with bad credit?
Getting a business loan with bad credit can be challenging but not impossible. Credit is just one of the criteria lenders use to assess your risk – alternative lenders such as iwoca also review your financial statements, business debt and cash flow to determine whether you can effectively manage the debt.
Are business loans tax deductible?
The interest paid on business loans is typically tax deductible, as it is considered a business expense. However, the principal amount of the loan is not deductible. It's important to keep detailed records of all loan-related expenses for tax purposes.
Does a business loan affect personal credit?
A business loan can affect personal credit if the loan is personally guaranteed or if the business owner uses personal credit to secure the loan. Late payments or defaults on the loan can negatively impact the individual's credit score.
The iwoca story
Over the past eleven years iwoca has grown from an ambitious fintech start-up to one of the fastest-growing and biggest business lenders in Europe. Now we're a team of around 400 in London, Leeds and Frankfurt working towards the goal of funding one million small businesses.
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