Get cash fast with an instant business loan
We do business loans without all the hassle. Apply for £1,000 to £1,000,000 with our same day business loan, and if you’re approved, you can draw the money right away. Our record is 2 minutes and 37 seconds!
- Apply in minutes
- No impact on your credit score
- Get the money on the same day
- Only pay interest for the days you borrow funds
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Loved by over 90,000+ small businesses since 2012
What are instant business loans?
Quick application process
Same day business loans are precisely what they sound like – loans that can be obtained quickly, without the hassle of long applications. In most cases, we can approve your instant business loan in just one working day.
Borrow £1,000 - £1,000,000
You choose the amount that’s best for you. The funds can be used for business growth, cash flow management, purchasing assets, or something else.
Flexible repayments
You won’t be charged an early repayment fee if you decide to pay your balance early and interest is only charged for the days that you have the money. Plus, you can apply for a top-up if you need additional funding.
Fund your future with an instant business loan
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.
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.
Frequently asked questions
What is the difference between an instant business loan and a traditional business loan?
Instant business loans are usually short-term and are repaid within two years. Less documentation is needed compared to the amount of information a traditional bank or commercial lender would ask for before approving your application. You can apply for an instant small business loan online in just a few minutes.
How long does it take to get approved?
In most cases, same-day business loans can be approved once you’ve submitted your application. This makes them ideal if you need money quickly, as you can get the cash within a short period of time.
Do I need to have good credit?
Most instant loan providers will look at your personal and business credit score when considering your application for an instant business loan. Having good credit is important but not always necessary to get approved. You can still be approved for a loan even if you don't meet all the requirements and your credit score won’t be impacted when you apply for a loan with iwoca.
What are the advantages of instant business loans?
- Fast financing to help your business grow
- Can be used for short-term consolidation or long-term growth
- No application fees or early repayment penalties
- Funds in your account within 1 working day (subject to approval)
- Flexible repayment terms
What are the interest rates?
Interest rates can vary depending on your provider and how long it takes to repay your loan. Some providers offer fixed-rate loans, which won't increase over time. Others may charge variable APRs depending on the market conditions. At iwoca, we only charge interest for the days when you are borrowing funds.
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With a same day business loan you can:
- Borrow from £1,000 to £51,000,000 over 24 months
- Get a decision in 1 working day
- Repay early with no fees
Read our in-depth guides about the world of business finance, designed to help you achieve more.
Questions? We're here to help
Call us at 020 3778 0274 from Monday to Friday (9am - 6pm). We can take your business loan application over the phone, or answer your questions about applying online.
The iwoca story
Over the past eleven 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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£3 billion+
approved small business loans
90,000+
businesses approved
