iwoca Business Loan Overview

iwoca Business Loans logo
  • Compare iwoca business finance products in the table below.
  • Get information on terms and amounts for the different commercial loan types that they offer.
  • Click the links provided to apply direct online.
See Deal Browse iwoca Business Loans FAQs

Compare iwoca Business Loans

  • iwoca Credit Lines logo

    iwoca Credit Lines

    • YOUR BUSINESS MUST BE A LIMITED COMPANY WITH A MINIMUM OF 6 MONTHS TRADING HISTORY
    • Flexible credit line facilities of up to £500,000
    • Repay early with no fees
    • Application decisions in one working day
    • Minimum Turnover
      £50,000 p.a.
    • Available Amounts
      £1,000 to £500,000
    • Available Terms
      up to 24 months
    See Deal + More info
  • iwoca Revenue Based Loan logo

    iwoca Revenue Based Loan

    • YOUR BUSINESS MUST BE A LIMITED COMPANY WITH A MINIMUM OF 6 MONTHS TRADING HISTORY
    • Get up to £100,000 for your business with a 24 hour decision
    • Tailor your loan how you like it by choosing a percentage of your revenue to repay each month
    • You won’t pay any interest but there is a simple, fixed fee
    • Minimum Turnover
      £12,000 p.a.
    • Available Amounts
      £1,000 to £100,000
    • Available Terms
      1 month to 2 years
    See Deal + More info
  • iwoca Unsecured Loans logo

    iwoca Unsecured Loans

    • YOUR BUSINESS MUST BE A LIMITED COMPANY WITH A MINIMUM OF 6 MONTHS TRADING HISTORY
    • Flexible unsecured credit facility
    • Repay early and only pay interest for the days you’re using the funds
    • Straightforward applications and quick decisions
    • Minimum Turnover
      £50,000 p.a.
    • Available Amounts
      £1,000 to £500,000
    • Available Terms
      Up to 24 months
    See Deal + More info
  • iwoca Working Capital Loans logo

    iwoca Working Capital Loans

    • YOUR BUSINESS MUST BE A LIMITED COMPANY WITH A MINIMUM OF 6 MONTHS TRADING HISTORY
    • Flexible credit facilites suitable for boosting working capital
    • Early repayment with no fees
    • Dedicated account manager and decisions within 24 hours
    • Minimum Turnover
      £50,000 p.a.
    • Available Amounts
      £1,000 to £500,000
    • Available Terms
      Up to 24 months
    See Deal + More info

Compare similar products from other providers

  • Nationwide Finance Business Finance logo

    Nationwide Finance Business Finance

    • Nationwide Finance help 35,000 businesses get finance each year
    • Direct funder - not a broker
    • Same day decision, funds within 24 hours
    • Minimum Turnover
      No minimum
    • Available Amounts
      £8,000 to £500,000
    • Available Terms
      1 to 5 years
    See Deal
  • Funding Circle logo

    Funding Circle

    • Your business must have a minimum of 12 months’ trading history
    • Short & long term business loans from £10,000 to £500,000 at fixed rates
    • Spread costs over 3 months with FlexiPay line of credit from £2,000 to £250,000 - only pay when you use it - simple flat fee
    • Rated 'Excellent' on TrustPilot - apply online in minutes, quick decisions, UK-based support team
    • Minimum Turnover
      £25,000 p.a.
    • Available Amounts
      £10,000 to £500,000
    • Available Terms
      6 months to 6 years
    See Deal
  • Tide logo
    Broker

    Tide

    • Tide works with a number of partners who offer a range of flexible business funding solutions
    • They will run pre-eligibility checks, without affecting your credit score, to show you credit options tailored to your business
    • Connect your business bank account in minutes to see your credit options
    • Minimum Turnover
      Varies
    • Available Amounts
      £500 to £15,000,000
    • Available Terms
      1 month to 6 years
    See Deal
  • Fleximize logo

    Fleximize

    • YOUR BUSINESS MUST BE A LIMITED COMPANY WITH 6+ MONTHS' TRADING
    • Fast, hassle-free business loans of up to £500,000 for almost any purpose
    • Industry-leading flexibility – top-ups, repayment holidays, and penalty-free overpayments available on all loans
    • Award-winning customer service – rated 4.9/5 on Trustpilot
    • Minimum Turnover
      £120,000 p.a.
    • Available Amounts
      £10,000 to £500,000
    • Available Terms
      3 months to 5 years
    See Deal
  • Capify logo

    Capify

    • Your business must have a minimum of 1 years trading history.
    • Superfast lending. Receive your funds the following day
    • All credit profiles are considered. Loans for any business purpose
    • Easy application process. Get conditionally approved in just 2 minutes
    • Minimum Turnover
      £120,000 p.a.
    • Available Amounts
      £5,000 to £500,000
    • Available Terms
      3 to 18 months
    See Deal
  • YouLend logo

    YouLend

    • Your business must take on a minimum of £3,000 per month of card sales
    • YouLend is Europe's largest revenue finance provider - working with eBay, Shopify and Just Eat
    • YouLend funds over 5,000 UK SMEs every month including sole traders, partnerships and limited companies
    • Apply online in minutes, for a decision within 24 hours
    • Minimum Turnover
      £3,000 card sales per month
    • Available Amounts
      £3,000 to £1,000,000
    • Available Terms
      3 to 18 months
    See Deal
  • Love Finance logo
    Broker

    Love Finance

    • Your business must be a ltd company with 2+ years trading; and 1 director must be a UK homeowner
    • Love Finance is a lender and broker
    • Get a decision in minutes via a simple online form
    • Get funding within 24 hours
    • Minimum Turnover
      £25,000 p.a
    • Available Amounts
      £5,000 to £500,000
    • Available Terms
      3 months to 5 years
    See Deal
  • 365 Business Finance logo

    365 Business Finance

    • Your business must process credit and debit card transactions to apply for this product
    • A flexible business funding alternative
    • Cash advanced against card transactions
    • Pay back an affordable % of your card transactions
    • Minimum Turnover
      £10,000+ card transactions per month
    • Available Amounts
      £10,000 to £300,000
    • Available Terms
      4 to 18 months
    See Deal
  • Swoop Funding logo
    Broker

    Swoop Funding

    • Your business must have a minimum of 1 years' trading history
    • Simple, secure and speedy search of 1,000 funding providers without affecting your credit rating
    • Free access every type of finance including the Recovery Loan Scheme
    • Online management allows you to find funding opportunities and track applications
    • Minimum Turnover
      £100,000 p.a.
    • Available Amounts
      £1,000 to £10,000,000
    • Available Terms
      3 months to 6 years
    See Deal
  • Funding Xchange logo
    Broker

    Funding Xchange

    • Access 70 lenders from one simple funding request
    • Easily compare the choices available, including RLS options
    • Apply with confidence, no impact on your credit score
    • Minimum Turnover
      £100,000 p.a.
    • Available Amounts
      £1,000 to £500,000
    • Available Terms
      3 months to 5 years
    See Deal
  • Barclays logo

    Barclays

    • Flexible borrowing for your business - unsecured (up to £100,000) and secured loans available
    • Fixed interest rates available on all loans, plus variable interest rates for loans over £25,000
    • Subject to application, financial circumstances and borrowing history. Eligibility criteria applies.
    • Minimum Turnover
      No minimum
    • Available Amounts
      From £1,000
    • Available Terms
      1 to 20 years
    See Deal
  • Cubefunder logo

    Cubefunder

    • Only available to Limited Companies in England and Wales with 3+ months' trading
    • Fast and Flexible funding from £5,000 - £100,000 for Limited Companies within England and Wales
    • No penalties for Late payments or Early repayment
    • Apply and receive funds within 48 hours
    • Minimum Turnover
      £50,000 p.a.
    • Available Amounts
      £5,000 to £100,000
    • Available Terms
      3 months to 1 year
    See Deal
  • Previse logo

    Previse

    • Previse Instant Advance is a fast cash flow facility, designed specifically to help businesses grow
    • Completely unsecured, no personal guarantees or security required
    • Available with a variety of short term lengths
    • Minimum Turnover
      £250,000 p.a.
    • Available Amounts
      £25,000 to £2,000,000
    • Available Terms
      3, 6 or 9 months
    See Deal

Also for Business

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Information written by Connor Campbell Last updated on 05 December 2022.

With iwoca, you can access flexible business loans to suit a range of purposes. This could be anything from expanding your business, covering a cash flow issue, or hiring new employees.

Find out more about what products iwoca offers, and whether you are eligible, with our overview below.

What is iwoca?

Launched in March 2011 by Christoph Rieche and James Dear, iwoca is an online business lender operating in the UK and Europe.

The company states that it has designed its loans ‘with small businesses in mind’, and currently offers funding anywhere from £1,000 to £500,000.

What does iwoca stand for?

Although the company no longer appears to use the tagline, iwoca was originally a contraction of ‘instant working capital’.

Is iwoca a direct lender?

iwoca is a direct lender, rather than a credit broker. This means that any loans taken out through the brand are borrowed from the lender directly.

How does iwoca differ from traditional lenders?

While iwoca is a direct lender, it is not a bank. Instead, it is an independent company that offers finance to smaller businesses that may struggle to get funding through traditional lenders.

Even though it isn’t a bank, iwoca is still regulated by the Financial Conduct Authority (FCA), and is a member of the Consumer Credit Trade Association (CCTA).

How many customers does iwoca have?

Since it launched, iwoca has provided over 50,000 businesses with more than £3 billion in funding total.

What business loans does iwoca offer?

iwoca offers two main types of business loans:

  • Flexi-Loan: with this type of iwoca business loan, you can currently borrow between £1,000 and £500,000, with terms starting from 1 day and going up to 2 years. You then repay the loan in monthly instalments, with interest. This product has similarities with credit lines, unsecured loans and working capital loans.
  • Revenue Based Loan: with this type of loan, you can currently borrow between £1,000 and £100,000. You then repay the loan as a percentage of your monthly sales, with a fixed fee instead of interest. This product is a form of merchant cash advance.

» COMPARE: Business loans

Can I get a small business loan with iwoca?

All of iwoca’s products have been built with small businesses in mind. You can currently borrow up to £500,000 with an iwoca business loan.

Your interest rate or fixed fee, depending on the loan you choose, will be informed by the results of iwoca’s risk assessment process. This is based on your company’s trading history and cash flow forecasts.

Key features of iwoca business loans

Below are some of the key features of iwoca’s business loans:

  • No early repayments fees.
  • Ability to request a business loan top up if you need more funding.
  • Quick and simple application process.
  • Approval can take just 24 hours.
  • Different types of business loans for different needs.
  • Wide range of repayment terms, from one day to two years.

How do I apply for an iwoca loan?

If you want to apply for an iwoca business loan, then you need to fill out an application online. You will likely need to supply the following information:

  • your company name
  • your personal details, including name and date of birth
  • whether you are a limited company, sole trader, ordinary partnership, limited liability partnership or other
  • when your business started trading
  • your turnover in the last 12 months
  • whether your business is VAT registered or not
  • your bank statements and VAT returns

According to iwoca, your application should only take five minutes to complete, and you should hear whether or not your loan has been approved within 24 hours. You can then expect the funds in your bank account within hours of your approval.

Am I eligible for an iwoca business loan?

In general, to be eligible for an iwoca business loan, you will need to:

  • be based in the UK
  • be a sole trader, partnership or limited company
  • supply basic details about your business
  • supply your bank statements from the last year, or link to your bank account via Open Banking

If you are applying for a Revenue Based Loan, you will need to:

  • have been trading for at least six months
  • be generating at least £500 in monthly sales through card and online purchases

What do iwoca customers say?

On Trustpilot, iwoca has a score of 4.7 out of 5, based on 5,244 reviews.

Information correct as of 18 November 2022.

Conclusion

If you are a small business, iwoca provides you with two main options when it comes to funding, both covering a variety of needs.

The Flexi-Loan can be used for both an immediate injection of cash intended to be repaid within days, or a longer-term investment that will be paid back over a few years, while the Revenue Based Loan comes with repayments designed to match the ebb and flow of your own income.

iwoca Business Loan FAQs

Who owns iwoca?

iwoca is a privately-held company, and was founded by Christoph Rieche and James Dear. Rieche is the current Chief Executive Office (CEO), while Dear is the Chief Technology Officer (CTO).

How many employees does iwoca have?

iwoca employs over 300 people, mainly focused in London, United Kingdom and Frankfurt, Germany.

About the author:

Connor is a writer and spokesperson for NerdWallet. Previously at Spreadex, his market commentary has been quoted in the likes of the BBC, The Guardian, Evening Standard, Reuters and The Independent. Read more

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