You know your business better than anyone. You know when you can afford to invest, when cash flow is going to be tight and when an opportunity is too good to miss. What you shouldn’t have to worry about is whether your finance can keep up.

Getting business finance isn’t always straightforward. Applications can be a slog, decisions can take time, the process can involve a lot of paperwork and complexity, and even when you’re approved, the amount or structure of funding available might not fit what your business actually needs. For a small business owner, that can make getting finance feel like a hurdle in itself.

Different types of business finance can work well for different situations, but they can also come with trade-offs. You might get certainty over what you’re borrowing, but less flexibility over how you use or repay it. You might have access to flexible funding, but less certainty over your repayments. And sometimes, simply getting access to the right amount of finance can be harder than it should be.

So, why shouldn’t your borrowing give you more control to make those decisions?

At iwoca, we believe great business finance combines three things: fast access to finance exactly when you need it, certainty over what you’re committing to, and the flexibility to use and repay in a way that keeps you in control and rewards you for repaying early.

That’s the thinking behind iwoca’s Flexi-Loan: it provides the fast access, certainty and flexibility SMEs need to make the most of opportunities, manage their borrowing, and keep their business moving.

‍

Fast access to finance, exactly when you need it

For SMEs, access to finance isn't always about needing the money today. Sometimes you need a decision quickly because an opportunity has come up or there's a gap in your cash flow. Other times, you know you'll need the money, but you're planning ahead and want to have the funding in place before you actually need to use it.

That’s why speed matters, but so does flexibility around when you draw the money down.

iwoca uses smart technology to make the application process quick and straightforward. Our credit models can assess a wide range of information about a business from just a few documents, helping us make fast, informed lending decisions without relying on a one-size-fits-all approach.

That speed comes from experience rather than a lighter-touch approach to risk. iwoca has funded more than 100,000 UK SMEs over the past 15 years, giving our models a huge amount of real-world lending experience to learn from. Our underwriting experts also support applications, particularly larger or more complex ones, bringing human judgement into the process where it matters.

The result can be a remarkably fast experience. iwoca’s record time from application to funding is 2 minutes and 37 seconds. Typically though, a decision is made within 24 hours, but it might be longer depending on the complexity of the request.

Getting approved also doesn't mean you have to take the money immediately. Once approved, you have 30 days to draw down your loan, so you can have the funding lined up and access it when the time is right, saving on a few days of unnecessary interest. You also don’t need to take the full amount you’ve been approved for – it’s totally up to you. And, if your plans change and you decide not to draw it down at all, there’s no penalty. Simply submit a new application, when you’re ready to borrow.

‍

Flexi-Loan in action: The Building Co.

When The Building Co. landed a new project during a quieter period, founder Ray Iqbal needed to buy specialist equipment quickly. iwoca approved and funded Ray within 48 hours, helping him take on the opportunity without putting pressure on cash flow.

Read Ray’s story

‍

Repayment flexibility that keeps you in control

One of the best things about a term loan is also one of the simplest: you know what you’re signing up for. You agree how much you’re borrowing, how long you’ll repay it for and what those repayments will look like. For a business owner, that predictability can make a big difference. You can factor the cost into your cash flow forecast and make the borrowing part of a wider business plan.

That’s the starting point for iwoca’s Flexi-Loan. You can choose a fixed term of between 12 months and five years, giving you a clear repayment schedule from the outset.

But because cash flow can look very different from one month to the next, and the plans you make at the start of a loan might not be the plans you’re working with six months later, fixed term loans don’t suit the requirements of many modern businesses. That’s where our flexibility comes in, and makes it different from most standard business bank loans or other facilities available.

With Flexi-Loan, the predictability of a term loan sits alongside features that let your borrowing adapt as your business does. You can reduce interest by making early repayments without fees. Or, by overpaying, you automatically earn a payment holiday to give yourself some breathing room during a seasonal dip or unexpected disruption. You can also request to top up your borrowing if a new opportunity arises. Ultimately, you get the certainty of a term loan, while keeping the freedom to make your borrowing work differently as your cash flow evolves.

‍

Flexi-Loan in action: Dovetail & Slate

When a seasonal dip put pressure on Dovetail & Slate’s cash flow, founder Guy Walker needed funding to cover VAT, salaries and supplier bills until revenue picked up. The flexibility of iwoca’s finance meant he could bridge the gap without committing to funding for longer than he needed it, repaying the borrowing as cash flow recovered.

Read Guy’s story

‍

Opening the door to strategic short-term business borrowing

Our repayment flexibility also allows businesses to use iwoca’s funding to make the most of strategic short-term plays. Many of our customers only take out our finance for a few weeks, or even days.  

You can use Flexi-Loan to cover a cash flow hit, such as an unexpected bill or slow customer payment. If you know that payment is coming in a few days, for example, you could draw the money you need to cover the gap and repay it when the cash arrives, only paying a few pound’s interest. Or you might borrow to take advantage of a stock opportunity where you expect a quick return. 

There are no early repayment fees or fines, so you can make those decisions based on what’s right for your business, rather than worrying about being penalised for changing your plans. You’ll always still have the predictable repayment schedule of a term loan as your baseline, but you’re not penalised by paying back earlier, greatly broadening the uses for finance.

Of course, that baseline matters. We wouldn’t lend to a business unless we were confident it could meet its minimum repayments. The flexibility is there to give a business more options and early repayment opportunities around that commitment, not to remove it.

‍

Flexi-Loan in action: VCare24

For VCare24, the gap between delivering care and getting paid by local authorities can put real pressure on cash flow. iwoca gives founder Victoria Simpson a way to bridge that gap when needed – drawing around £200,000 to cover payroll and then paying it back within a week as payments come in.

Read Victoria’s story

‍

Keeping things clear

Extra flexibility works best when it gives you more confidence and control over your borrowing. That starts with knowing exactly where you stand. With iwoca, your dashboard gives you a clear view of your loan, your repayments and what’s happening with your borrowing.

If you make an early repayment, you can see the impact on your interest in real time. If you overpay, you can see you’ve earned a payment holiday, and when your next repayment is due. If you need more funding, you can see whether a top-up is available.

While you can easily manage your borrowing yourself through the dashboard, there are always real people available if you want to talk something through. Whether you have a question about your loan, want to understand your options or simply want to speak to someone who understands what you’re dealing with, there’s a human on the other end.

That human side matters. Borrowing is a big decision for a small business, and our UK-based teams genuinely care about getting it right. They’re there to explain things, talk through your options and help when you need it.

And they’re remarkably accessible. During standard working hours, iwoca typically responds within 60 seconds. That means when you have a question, you don't have to wait days for someone to get back to you – there’s a real person on the other end, ready to help.

‍

Flexi-Loan in action: CQD Cleaning Services

For CQD Cleaning Services founder Mark Natthan, having someone who understood his business gave him the confidence to use finance to hire ahead of revenue and bridge gaps between jobs. He still speaks to his iwoca account manager regularly, giving him someone to turn to as he plans what’s next.

Read Mark’s story

‍

Finance that flexes and flows with your business

For SMEs, access to the right finance can be the difference between keeping things moving and having to put growth on hold. That’s why we believe business finance should work around the realities of running a small business – giving entrepreneurs the certainty to plan, the speed to act and the flexibility to adapt when things change.  

When more small businesses have the funding they need to invest, manage lumpy cash flow and seize opportunities, the benefits extend far beyond individual businesses. SMEs are a vital engine of economic growth, creating jobs, driving innovation and strengthening communities across the UK. Our ambition at iwoca is to play our part by funding 1 million SMEs, helping more businesses get the finance they need to grow, adapt and thrive – and, in turn, helping the UK economy grow with them.