Check if you qualify for a business loan in minutes
- Apply in minutes
- Get a decision in 24 hours
- Dedicated Account Manager support
Because we’re designed specifically for small businesses, our business loans work like you do: they’re fast and hassle-free.
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
You can access your money as soon as you're approved. And if you need more later, you can apply for a top-up.
How do business loans work
Apply in minutes
It takes five minutes from start to finish. We're designed with small businesses in mind, so we'll just need the basics about your business to make a decision.
Use your funds
We'll assess 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 can grow too.
Frequently asked questions
Here are some questions you could ask yourself about how business loans work. If there’s anything we haven’t covered here, check our FAQ
iwoca offers a Flexi-Loan to support the thousands of small businesses that struggle to access finance through the banks. More startup than financial institution, we use technology to eliminate the cost and complexity associated with traditional business finance.
Importantly, iwoca is extremely fast. You can sign up in as little as 5 minutes and funds can be in your account within hours of completing your application. We also offer a simple product without complex fees and offer far more flexibility. Find out more about our product here.
In addition, our platform allows you to link your online accounts such as Amazon, PayPal or Xero to build a 360 degree view of your business. We analyse the data behind your business to make fair credit decisions based on your business turnover, customer feedback and other sales data not easily accessible to banks.
Our main product is a small business credit facility called Flexi-Loan which is perfect for short-term borrowing – e.g. when you need to pay upfront for stock, make a short-term investment, bridge a cash flow gap or finance a project.
It’s completely free to get approved and there are no commitments.
Once you're approved, you'll be given a credit limit and interest rate based on your business profile and will be able to see how your repayments vary based on how much you borrow and for how long. In the meantime, you can see a representative example of our pricing with our interactive .
No, we don't take any security and have no asset requirements. All we need is a personal guarantee. For limited companies, this should be from a company director. You can find out here why we ask for a personal guarantee.
Yes, we’re generally happy for you top up back to your credit limit provided you have paid off at least one-third of your original loan. We'll just need to confirm that your business performance remains strong before we can approve your top-up. This may require updated documents but it usually only takes a couple of hours.
“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.”
Tim Law - Simply Plants
We keep our prices simple
We’ll only charge interest on your outstanding balance for the days you’re using your business loan – no hidden 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.
Questions? We're here to help
Call us at 020 3778 0274 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
100,000+
businesses approved
