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.
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Compare iwoca Business Loans

  • iwoca logo

    iwoca Flexi12 Business Loan

    • Flexible finance for small businesses from £1,000 to £1,000,000
    • No long-term commitments and flexible repayments to fit your business
    • Apply online in minutes for a quick decision (some may take up to 24 hours). Applying won’t affect your credit score
    • Minimum annual turnover
      £10,000
    • Available amounts
      £1,000 - £1,000,000
    • UK Available terms
      0 - 12 months
    See Deal
  • iwoca logo

    iwoca Flexi24 Business Loan

    • Flexible finance for small businesses from £1,000 to £1,000,000
    • No long term commitments and flexible repayments to fit your business
    • Apply online in minutes for a quick decision (some may take up to 24 hours). Applying won’t affect your credit score
    • Minimum annual turnover
      £10,000
    • Available amounts
      £1,000 - £1,000,000
    • UK Available terms
      0 months - 2 years
    See Deal

Compare similar products from other providers

  • Funding Options by Tide logo
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    Funding Options Unsecured Loans

    • Rated excellent on Trustpilot, Funding Options have helped over 21,000 businesses secure over £950m in funding
    • It takes minutes to apply, there’s no obligation, and it’s easy to use
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    • Minimum annual turnover
      £60,000
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  • Funding Options by Tide logo
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    Funding Options Short Term Loans

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    • It takes minutes to apply, there’s no obligation, and it’s easy to use
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    • Minimum annual turnover
      £50,000
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  • Funding Options by Tide logo
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    Funding Options Secured Loans

    • Rated excellent on Trustpilot, Funding Options have helped over 21,000 businesses secure over £950m in funding
    • It takes minutes to apply, there’s no obligation, and it’s easy to use
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    • Minimum annual turnover
      £50,000
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      £5,000 - £20,000,000
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      3 months - 5 years
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  • Funding Options by Tide logo
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    Funding Options Asset Financing

    • Rated excellent on Trustpilot, Funding Options have helped over 21,000 businesses secure over £950m in funding
    • It takes minutes to apply, there’s no obligation, and it’s easy to use
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    • Minimum annual turnover
      £50,000
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      £10,000 - £15,000,000
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      6 months - 6 years
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  • Funding Options by Tide logo
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    Funding Options Credit Lines

    • Rated excellent on Trustpilot, Funding Options have helped over 21,000 businesses secure over £950m in funding
    • It takes minutes to apply, there’s no obligation, and it’s easy to use
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    • Minimum annual turnover
      £50,000
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  • Fundably logo
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    Fundably Unsecured Business Loans

    • Get tailored funding from 30 leading lenders
    • See how lenders may assess your application
    • Find the right deal for your business
    • Minimum annual turnover
      £100,000
    • Available amounts
      £1,000 - £2,000,000
    • UK Available terms
      1 month - 5 years
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  • Fundably logo
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    Fundably Line of Credit

    • Fundably provides bespoke matches and tailored feedback on your application, instantly Apply in just 5 minutes with flexible loan amounts - funds often released within hours Funding from over 30 leading UK lenders - get matched to the right business loans for your company in seconds
    • Minimum annual turnover
      £200,000
    • Available amounts
      £20,000 - £150,000
    • UK Available terms
      6 - 9 months
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  • Fundably logo
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    Fundably Revenue-Based Finance

    Credit/debit card sales required
    • Fundably provides bespoke matches and tailored feedback on your application, instantly Apply in just 5 minutes with flexible loan amounts - funds often released within hours Funding from over 30 leading UK lenders - get matched to the right business loans for your company in seconds
    • Minimum annual turnover
      £300,000
    • Available amounts
      £50,000 - £2,000,000
    • UK Available terms
      6 months - 2 years
    See Deal
  • Fundably logo
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    Fundably Merchant Cash Advance

    Credit/debit card sales required
    • Fundably provides bespoke matches and tailored feedback on your application, instantly Apply in just 5 minutes with flexible loan amounts - funds often released within hours Funding from over 30 leading UK lenders - get matched to the right business loans for your company in seconds
    • Minimum annual turnover
      £120,000
    • Available amounts
      £1,000 - £300,000
    • UK Available terms
      6 - 12 months
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  • Fundably logo
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    Fundably Invoice Finance

    • Fundably provides bespoke matches and tailored feedback on your application, instantly Apply in just 5 minutes with flexible loan amounts - funds often released within hours Funding from over 30 leading UK lenders - get matched to the right business loans for your company in seconds
    • Minimum annual turnover
      £250,000
    • Available amounts
      £1,000 - £1,000,000
    • UK Available terms
      1 - 3 months
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  • Binq Business Limited logo
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    Binq Business Loans

    • Instant loan matches - Search hundreds of lenders in minutes with just one click
    • Your free AI business advisor - Get funding advice, financial insights, and unbiased answers - ask it anything!
    • Stay in control 24/7 - Always-on AI chat interface + expert humans when you need them
    • Minimum annual turnover
      £100,000
    • Available amounts
      £25,000 - £10,000,000
    • UK Available terms
      12 months - 10 years
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  • Barclays logo

    Barclays Unsecured Business Loans

    • 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 annual turnover
      No minimum
    • Available amounts
      £1,000 - £100,000
    • UK Available terms
      12 months - 10 years
    See Deal
  • Barclays logo

    Barclays Secured Business Loans

    • 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 annual turnover
      No minimum
    • Available amounts
      £1,000 - No max
    • UK Available terms
      12 months - 25 years
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  • Swoop Funding logo
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    Swoop Funding Unsecured Loans

    • Simple, secure and speedy search of 1,000 funding providers without affecting your credit rating
    • Free access to every type of finance including the Growth Guarantee Scheme
    • Online management allows you to find funding opportunities and track applications
    • Minimum annual turnover
      £100,000
    • Available amounts
      £5,000 - £10,000,000
    • UK Available terms
      3 months - 10 years
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  • Swoop Funding logo
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    Swoop Funding Secured Loans

    • Simple, secure and speedy search of 1,000 funding providers without affecting your credit rating
    • Free access to every type of finance including the Growth Guarantee Scheme
    • Online management allows you to find funding opportunities and track applications
    • Minimum annual turnover
      £50,000
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      £10,000 - £50,000,000
    • UK Available terms
      3 months - 35 years
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  • Swoop Funding logo
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    Swoop Funding Short-Term Business Loans

    • Simple, secure and speedy search of 1,000 funding providers without affecting your credit rating
    • Free access to every type of finance including the Growth Guarantee Scheme
    • Online management allows you to find funding opportunities and track applications
    • Minimum annual turnover
      £100,000
    • Available amounts
      £5,000 - £5,000,000
    • UK Available terms
      3 months - 2 years
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  • Swoop Funding logo
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    Swoop Funding Merchant Cash Advance

    Credit/debit card sales required
    • Simple, secure and speedy search of 1,000 funding providers without affecting your credit rating
    • Free access to every type of finance including the Growth Guarantee Scheme
    • Online management allows you to find funding opportunities and track applications
    • Minimum annual turnover
      £50,000
    • Available amounts
      £5,000 - £5,000,000
    • UK Available terms
      3 - 12 months
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  • Swoop Funding logo
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    Swoop Funding Working Capital Loans

    • Simple, secure and speedy search of 1,000 funding providers without affecting your credit rating
    • Free access to every type of finance including the Growth Guarantee Scheme
    • Online management allows you to find funding opportunities and track applications
    • Minimum annual turnover
      £100,000
    • Available amounts
      £5,000 - £10,000,000
    • UK Available terms
      3 months - 10 years
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  • Swoop Funding logo
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    Swoop Funding Asset Finance

    • Simple, secure and speedy search of 1,000 funding providers without affecting your credit rating
    • Free access to every type of finance including the Growth Guarantee Scheme
    • Online management allows you to find funding opportunities and track applications
    • Minimum annual turnover
      £50,000
    • Available amounts
      £5,000 - £50,000,000
    • UK Available terms
      3 months - 10 years
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  • Swoop Funding logo
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    Swoop Funding Growth Guarantee Scheme

    • Simple, secure and speedy search of 1,000 funding providers without affecting your credit rating
    • Free access to every type of finance including the Growth Guarantee Scheme
    • Online management allows you to find funding opportunities and track applications
    • Minimum annual turnover
      £150,000
    • Available amounts
      £25,000 - £2,000,000
    • UK Available terms
      12 months - 6 years
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  • YouLend logo

    YouLend Cash Advance

    Credit/debit card sales required
    • 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 annual turnover
      £36,000
    • Available amounts
      £3,000 - £1,000,000
    • UK Available terms
      1 - 18 months
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Also for Business

Our comparison service features a selection of providers from whom we receive commission. This table is initially ordered according to our commercial arrangements. You can use the options above the table to order it according to various criteria.

Last updated on 02 March 2023.

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

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