Take your specialist dealership up a gear with on-demand finance from iwoca
Borrow £1,000 - £1 million to scale your plans, stock up for growth or just create a cash flow cushion.
Take your specialist dealership up a gear with on-demand finance from iwoca
Borrow £1,000 - £1 million to scale your plans, stock up for growth or just create a cash flow cushion.
Choose your business 👇
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Business financing to fuel seasonal demand
Use iwoca finance to beat the competition - from being the first to stock the newest models this summer to smoothing cash flow to get ahead for next winter.
Just like thousands of other auto businesses like yours who have already been approved for iwoca financing to:
✅ Invest in high-ticket models before the competition
✅ Smooth cash flow and get ahead of every season
✅ Expand into new locations
✅ Increase marketing and online sales
How does iwoca compare to other financing options on the market?
Fast
Once you’re approved, we’ll ping the money straight to your account. And if you need more later, you can apply for a top-up. Link your bank account and get going in minutes.
Flexible
Unlike other financing options for the auto industry, you can spend the money on anything you like. From hiring new team members to bridging your cash flow gap.
For small businesses
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.
Use this handy calculator to run the
numbers for your business
At iwoca, we keep things simple. Whatever you use your funds for, we'll only charge interest on your outstanding balance for the days you're using your business finance - no early repayment fees, no long-term commitments.
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 1.5% a month for a Flexi-Loan depending on your business.
6 monthly repayments of £1,120
Total repayment of: £31,685
Including fee 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.
Loved by over 150,000 businesses
since 2012
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Why having clear, manageable debt provides better control and opportunities for sustainable growth: Stephen's story
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See which funding route is best for your business
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Talk through your options with a real human
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How does iwoca financing 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.
24 hours to get a decision
No fees for repaying early
Top-ups available
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
Join 150,000 others and get your
business set up this summer
Frequently asked questions
Here are some questions our customers ask. Check our FAQs 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.
What can I use my iwoca loan for?
Generally our customers 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.
How does iwoca compare to other financing options available for the auto industry?
We've put a handy guide together comparing the most common financing options for auto businesses. You can view it here [insert comparison guide link].
How do other auto companies use iwoca to finance their business?
New car dealerships say flexible loans help them to purchase large volumes of new vehicles, maintaining a strong inventory without tying up too much cash.
Used car dealerships benefit from fast and flexible finance capital, allowing them to buy stock quickly when a good deal comes up - helping to combat fluctuating stock availability.
Specialist car dealerships enjoy using hassle-free financing to cover overheads in the off-season and buy extra stock ahead of peak periods.
Vehicle service businesses use iwoca finance to buy stock in bulk at better rates, while maintaining a wide range of specialist inventory and tools.
Any auto business can borrow £1,000 - £1 million to buy new stock, invest in growth plans or just keep cash flow smooth.
The iwoca story
Over the past twelve 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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