IWOCA Funding
We are now partnered with IWOCA, a trusted provider of simplified business loans.
Seeking financial support for your small or medium-sized UK business? Borrow £1,000 – £500,000 over a day or 2 years to help your stock, growth plans, or cash flow. Our innovative funding is designed with your needs in mind.
Get a FREE Quote
Borrow from £1,000 to £500,000
Get a decision in approximately 24 hours
No Additional Fees for Early Repayment
Get additional funds simply, thanks to the 5-minute application system. Fire off a form and get back to running your business in no time.
One Simple Process
- Complete a 5-minute application: Our streamlined application process is tailored for small businesses, requiring only essential details about your business to make a decision.
- Get a decision in 24 hours: Upon approval, you can transfer the required amount directly to your bank account, typically within hours.
- Borrow over a day up to 2 years: Your repayment schedule is flexible, ranging from one day to two years. Additionally, if you decide to repay your loan earlier, there are no fees associated with that.
No Hidden Fees
Together with IWOCA funding, we maintain straightforward pricing.
You’ll only incur interest on the amount you’ve borrowed for the days it’s utilised. That’s it, there are no undisclosed charges or extended obligations.
Our business loan rates commence at 2% monthly for a Flexi-Loan, contingent upon your business’s specifics.
For instance, if you borrowed £10,000 for 12 months at a representative APR of 49%, with a variable interest rate of 40% per annum, the total repayment amount would be £12,294.
Meet IWOCA
Iwoca is revolutionising lending with cutting-edge software crafted to deliver a seamless financing experience for small business owners. Their mission is to empower entrepreneurs through lightning-fast loans customised to their requirements. The company is steadfast in its commitment to fostering the growth of one million small businesses.
What You Need to Get Started
Fast Loan Approval
With the help of IWOCA’s funding process, your loan application can be approved before you know it. Usually, 24 hours after vamping the 5-minute application form. Once approved, you’ll receive your funds within days, ensuring quick access to the financial support you need.
Customised Loans
We understand that every business is unique. That’s why we offer tailored loan solutions to suit your specific requirements. Our loans come with fixed interest rates and transparent terms, providing clarity and peace of mind. Plus, you have the flexibility to request a top-up if your circumstances change.
Flexible Repayment Options
We prioritise your convenience. That’s why we offer flexible repayment plans tailored to your preferences. Our team is always available to discuss your options and ensure a repayment schedule that works best for you.
What You Need to Get Started
Getting started with us couldn’t be easier.
We welcome applications from all businesses, regardless of their age or industry. All we require is:
- Your business is UK-based
- You operate as a limited company or partnership
When you start your application, ensure you have the following readily available:
- Basic business information
- Bank statements from the past year, or you can link your account via Open Banking
How You Can Use Our Loans
Discover the versatile applications of our business loans. We’re dedicated to fuelling your growth, allowing you to focus on what matters most – your business. Join the many satisfied customers who have utilised our loans for various purposes, including:
- Acquiring equipment to enhance operations
- Settling outstanding bills or debts promptly
- Investing in inventory to meet demand and expand offerings
- Funding marketing initiatives to attract and retain customers
With our support, you can seize opportunities, overcome challenges, and propel your business forward.
Alternative Business Financing
We’ve partnered with a variety of reputable financial institutions to offer you a wide selection of business financing options. Take your pick from:
FAQ
Will the application for a business loan impact my credit score?
Applying for a business loan with us won’t affect your credit score, as we conduct soft credit checks. However, once you draw down funds, the loan will appear on your credit report.
Is early repayment an option?
You can repay your business loan early without any fees. Many of our customers choose to do so to save on interest costs. We believe in transparent terms, so there are no surprises hidden in the fine print.
In what ways do you differentiate yourselves from traditional banks?
Unlike traditional banks, IWOCA is a dedicated platform designed specifically for small businesses. Through our partnership with them, you get a streamlined process that ensures quick access to finance tailored to your business needs, without the bureaucracy associated with banks.
What is the typical timeframe for the loan process?
Our application process takes just 5 minutes, and in nearly all cases, you’ll receive a decision within 24 hours. We prioritise efficiency to ensure you get the funding you need promptly.
Who qualifies for a small business loan?
Small business loans are generally available to business owners with a stable credit history, a viable business plan, and a demonstrated ability to repay the loan. Lenders may assess both personal and business financial factors when determining eligibility.
For what purposes can small business loans be utilised?
Small business loans can be used for various purposes, including working capital, equipment purchase, inventory replenishment, business expansion, and even debt consolidation. The specific usage often depends on the needs and goals of the business.
What is the typical duration of a small business loan?
The duration of a small business loan varies, but it commonly ranges from a few months to several years. Short-term loans may have terms of up to 18 months, while long-term loans can extend to 5 or more years.
For what purposes do your customers typically utilise their business loans?
Our customers often use their business loans for short-term investments, such as purchasing extra stock, or to manage cash flow, particularly when waiting on outstanding invoices.
What options are available if additional funding is required?
With our Flexi-Loan, obtaining additional funding is hassle-free. Once you’ve repaid a third of your original credit limit, applying for a top-up is simple. We’ll just need updated information about your business to process it swiftly.