Smarter than a business credit card

Borrow £1,000 - £500,000 for 1 day to 2 years. Bridge gaps, grab opportunities or just keep cash flow smooth.

  • No early repayment fees
  • Top ups available
  • Dedicated Account Manager
  • Money in your account in as quick as 2 minutes 37 seconds (our record)!

Applying for one of our business loans won't affect your credit score

Running a business, you need funds in hand to be ready for anything. From everyday orders to making your next big bet.

Running a business, you need funds in hand to be ready for anything. From everyday orders to making your next big bet.

Cash or card? Use both

Funds go straight to your bank account to use way you need. Like making bank transfers and paying VAT bills with no fee - you can’t do that with a credit card.

No fees, ever

iwoca funds are free until you draw down, and then we just charge interest by the day. There's no annual fees, set up fees or early repayment fees.

Lightning fast service

You won't need to wait for a card to arrive in the mail. Get approved in hours then start using your funds instantly.

What is a business credit card?

A business credit card is very similar to a normal credit card, just for a business instead of a person. Business owners and nominated employees can use business credit cards to buy items or services for a company on credit, which then has to be paid back – often within 56 days – or else interest will be charged on the amount due.

Companies of all shapes and sizes can use a business credit card, and whilst an employee’s name is printed on the card, it is the business itself that is responsible for paying off the credited amount. The card acts pretty much how you would expect a personal credit card to work and there are no extra penalties for it being a business credit card; you can even use them to get additional rewards and perks, such as air miles and cash-back.

The only thing to bear in mind when applying for a business credit card is that there is a different application process and – because they’re not intended for individual use – the cards aren’t covered by the Consumer Credit Act.

Business credit cards work by allowing a business to spend money up to a pre-agreed limit, which the business then has to repay back to the credit card company. There is usually a minimum repayment needed every month, plus an interest rate added to amount due if the borrower has gone past the interest-free grace period.

Business credit cards are a useful tool for bridging small cash flow gaps, making purchases (such as buying office supplies) or keeping oversight over employee spending, as well as building your business’ credit profile.

The limit you can borrow up to is determined by how much you're approved for by the card provider, and is dependent upon a variety of factors such as your personal and business' credit history. It's worth bearing in mind that start-ups and sole traders can sometimes find it difficult to get approved for business credit cards – or may be charged a high interest rate – so be sure to shop around if you fall into one of those categories, or if you have an imperfect credit history.

If you’re eligible, it’s fairly simple process to get a business credit card with most lenders. Simply go to your preferred lender and supply them with your business and personal details, plus why you’d like the funds.

Business details. Likely including business name, address, years trading and monthly turnover. Personal information, such as your name, age and personal address. Credit usage. How much credit you’d like, when you need it by, and for what reason.

They’ll then make an eligibility assessment, which – if positive – means you’ll get a business credit card. Remember, some bank business credit cards are only available if you already have an existing account open with that bank.

The average cost of business credit cards on our shortlist is £32. However, a number of cards don’t charge an annual fee for using their account, and some charge considerable more (up to £595), but also come with considerable greater rewards, such as worldwide access to 1,200 airport lounges.

It’s worth bearing in mind that that’s just the annual fee for the account. A business credit card can also cost you in the following ways:

Interest. If you don’t repay your balance due every month then a set amount of interest will be charged on the outstanding amount. This is usually expressed in Annual Percentage Rate (APR) terms when you receive the card, indicating the amount of interest you’d be charged over the course of a full year.

Late fees. If you fail to pay the minimum payment of the card, then you may be charged a late payment fee.

Going above your credit limit. You’ll also likely incur a penalty if you spend above and beyond the maximum amount set out in your credit agreement.

Spending abroad. Foreign transactions are often cause for the lender to add on additional charges. However, some companies such as TransferWise are actively working to minimise this cost for small businesses.

Cash withdrawals. Like with a personal credit card, using your business credit card to withdraw money from a cash machine can often cause a fee to be added to the amount withdrawn.

The perks and rewards that business credit cards can offer fall into four broad buckets: cashback, points, discounts and insurance.

Cashback. Where a set proportion of the money you spend is given back to you, often between 0.5 and 1%

Discounts. Sometimes credit card providers team up with other vendors and service providers to offer discounts on popular goods.

Rewards: Business credit cards can sometimes come with point schemes, where purchases accumulate points that can then be exchanged for ( generally) travel-related perks, such as discounted or free flights.

Insurance: a number of cards also come with free travel insurance as an additional reward.

What business financing is right for you?

What business financing is right for you?

If you’re looking to manage cash flow, grow or invest in the future, business finance might be right for you. It comes in all shapes and sizes: we have different business finance options to suit different businesses. Pick one below that works best for you, or call us on 020 3778 0361 and we can help you decide.

Revenue Based Loan

Our Revenue based loan is perfect for any business that takes card payments. Monthly repayments based on your revenue: if your sales slow down, you’ll pay less.


Our Flexi-loan is designed to help you manage cash flow, borrow from 1 day to 24 months in an instant. Repay at your earliest convenience.

Recovery Loan

This Government backed loan will suits your needs if your business activity has been impacted by the Covid-19 pandemic.

We keep our prices simple

Simple Pricing

We’ll only charge interest on your outstanding balance for the days you’re using your business finance product – 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 £7,465

Total repayment of £44,789(3.33% interest rate per 30 days)

Borrow up to £200,000

For up to 12 months

Need help? call us

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.

How does business finance work at iwoca


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 approve 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 will too.

Because we’re designed specifically for small businesses, our business finance products work like you do: they’re fast and hassle-free.

Because we’re designed specifically for small businesses, our business finance products work like you do: they’re fast and hassle-free.

No fees

You’ll just pay interest for each day you have your loan. And if you’re ready to repay early, good for you: there’s no fee for that.

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

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.

Why choose iwoca business finance


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.


Borrow when you need it

With iwoca business finance you pay interest only for each day you have the funds.


Flexible and fast

Speedy decisions: 2 minutes 37 seconds is our record from signing up to money in your account.

Loved by small businesses (and big names)

Business Finance FAQs

There are lots of options when it comes to business finance. Here are some of the common questions we get asked.

Yes. There are many ways to get finance to buy a new business. The best option will depend on whether you have business experience. If you already own a business, and can show a good business background, it’ll be much easier to get business finance. Applying for business finance to buy a business without any experience can be tricky or lead to very high interest rates. Lenders will base their decision on your personal credit score and on the business you want to acquire.

If you’re finding it hard to get business finance to buy a business, you should consider Small Business Administration (SBA) loans. The SBA partners with participating SBA-approved banks, credit unions, community development organisations, nonprofits, and other lenders to provide long term, low-cost, government-backed loans ranging from to small businesses.

There are lots of different ways! Read about them below, or feel free to call us on xx to discuss what iwoca offers to sort your business finance needs and help you scale your business.

Small business loans; Flexi-Loan; Revenue Based Loan; Invoice financing; Invoice discounting; Asset finance; Business overdraft; Business credit cards; Commercial mortgages; Crowdfunding; Peer-to-peer lending; Franchise finance; Hire purchase; Vendor finance; Small business grants; Bridging loans

We don’t offer specific business car finance, but lots of our customers use our business loans to buy their vehicles. You can then spread the cost over a period of time, and can always pay back early if you wish! If you want to find out specifically about vehicle finance, including business van finance options, read our article on truck finance.

You can apply online with us in 5 minutes (or call us on 020 3397 3375 if you’d prefer to do it over the phone). You’ll get a decision in 24 hours (or much sooner, depending on which business loan you apply for).

This depends on the business finance provider. With iwoca, you’ll get a decision in 24 hours (or sooner, depending on which product you go for – try our Lightning Loan if you’d like an instant decision!).

When you're a small business you need to move fast. Dealing with banks is a long process. Dealing with iwoca was definitely a lot more efficient.

When you're a small business you need to move fast. Dealing with banks is a long process. Dealing with iwoca was definitely a lot more efficient.

Ian - Champs Barbers

Customer support


We're here to help

Small business loans are all we do, so you'll get straight through to someone who can help, like Lisa – we're not fans of hold music. Call us from Monday to Friday (9am - 6pm). We accept applications over the phone.

Apply now

iwoca Ltd, 247 Tottenham Court Road, London, W1T 7QX

iwoca Limited is authorised and regulated by the Financial Conduct Authority (reference number: 723378) in relation to regulated credit agreements and are a registered account information service provider (reference number: 791804). We're also registered with the Information Commissioners Office in relation to the processing of personal information (registration number: Z3007540). iwoca Limited is incorporated in England and Wales (company number: 07798925). Our registered office is 10 Queen Street Place, London, EC4R 1AG.