For business loans, minutes matter
Which is why our record from application to money in the bank is 2 minutes and 37 seconds. Because we know things move fast for small businesses. So we swerve all the long-winded phonecalls and piles of paperwork.
- Apply in minutes
- Get a decision in a day
- From 1 day to 2 years
- No paperwork
£3 billion+
approved small business loans
70,000+
businesses approved
Why iwoca?
We're fast
Our record from application to bank account is 2 minutes and 37 seconds.
We're flexible
Borrow up to £500,000 with no fees for repaying early.
We're credible
We’ve funded over 70,000 small businesses across the UK since 2012, and our customers give us 4.7 stars on Trustpilot. So you know you’re in safe hands.
How do you know which business loan is best for you?
If you’re shopping around, it can help to bear these things in mind.
Some companies ask you to put your assets – like property or machinery – down as ‘security’ on a loan. So if you can’t repay your loan, they’ll take what they’re owed from those things.
Not us; our loans are unsecured, so you don’t need to put any assets on the line. That said, if you’re a limited company, we’ll ask for a personal guarantee from a company director.
As you’re weighing up your options, you want to be clear on the costs – even loans with lower interest rates can come with fees that might mean you end up paying more overall.
Here’s how we do fees:
- For all our loans, it’s free to repay early. So there are no early repayment fees.
- For loans where you repay monthly, you’ll just pay interest. No fees.
- For loans where you repay flexibly, you’ll pay one upfront fee, not interest.
Whichever loan you go for, we’ll never sting you with hidden fees or charges.
Of course, the right loan for you depends on exactly what you’ll use it for. And this can really vary; covering a one-off invoice is very different to repaying a long-term investment over time.
That’s why our loans are all about options:
- borrow £1000 or £500,000
- settle up in a day or over two years
- repay in fixed installations or as a flexible percentage of sales
- pay monthly interest or one fixed fee.
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With iwoca you can:
- Borrow from £1,000 to £500,000 over 24 months
- Get a decision in 1 working day
- Repay early with no fees
