Get a large business loan, money in your account in 1 working day

Borrow £1,000 to £500,000 and benefit from flexible repayment options. Our large business loans can help your business purchasing new inventory, investing in expansion, or maintaining steady cash flow.

  • Apply in minutes
  • Repay early with no fees
  • From 1 day to 24 months
Apply nowSee how much you could get

Applying won't affect your credit score

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Loved by over 90,000+ small businesses since 2012

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Applying for a large business loan

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  1. Tell us how much money you'd like

    Our large business loans range from £1,000 to £500,000. If approved, the amount we offer will typically be around one month’s revenue. As your business grows we’re happy to look into increasing your credit limit.

  2. Tell us about you

    We only need basic information about you and your business. Depending on the amount of money you ask for we might need you to upload a few documents to help us make a decision (bank statements, VAT returns or company accounts).

  3. Wait (not for long!) for a decision

    We usually give an answer in 24 hours. We’ll base our lending decision on your business's performance. If your application for a large business loan is declined and you want to discuss this, give us a call on 020 3397 3375.

  4. Use your funds

    If your large business loan application is approved, you can transfer the money to your bank account right away (you don’t have to take the full amount, only what you need); it’ll be available in just a few hours.

  5. Repay or top up

    We don’t charge any fees for early repayment, and you’ll only pay interest for each day you have the funds. If you need more money, applying for a top up is easy. As your business grows, we could be able to increase your loan’s credit limit accordingly.

Apply now

Applying won't affect your credit score

Our large business loans are tailored to meet your specific needs. They’re speedy and straightforward, and we’ve made sure the application process is hassle-free.

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How do large business loans work?

Here are some questions you could ask yourself about how large business loans work. If there’s anything we haven’t covered here, check our FAQ.

What is a large business loan?
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A large business loan is a type of financing typically designed for more established businesses with greater financial needs. Here at iwoca, you can borrow up to £500,000 for up to 24 months. We’ll take monthly repayments but exactly ‘when’ you repay and ‘how much’ you repay on top of your schedule is up to you; you can pay everything back in 1 day if you’d like – if you do, you’ll only pay one day’s worth of interest! It’s completely flexible. 

You can use large business loans for a variety of purposes: funding major investments, acquiring new assets, expanding operations and managing cash flow are a few examples. The interest rates and terms for large business loans may vary depending on factors such as your business’s financial history, creditworthiness, and the purpose of the loan.

How to get a large business loan?
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Here are some simple steps you can follow:

Determine your financing needs: Before applying for a loan, it's important to think about how much money your business needs, and what you plan to use it for. 

Research lenders: Look for lenders (like iwoca) that offer large business loans, then compare their features. When doing this, think about: 

  • how quickly can you get the money?
  • how much interest will you pay; do you have to pay interest on the total loan amount or the total balance (the balance decreases as time goes on due to your repayments)?
  • can you repay early or are you locked in?
  • what fees are there?
  • does the lender need you to offer up collateral (e.g. your home) to secure the loan against?
  • can you get a top up?
  • do you get an account manager?
  • how easy is the application process?

Gather your documents: Lenders will typically need to see financial documents such as tax returns, financial statements, and bank statements to evaluate your creditworthiness.

Apply for the loan: Submit your loan application. Be prepared to answer questions from the lender about your business and your financial situation.

Await a decision: The lender will evaluate your application and make a decision on whether to approve your loan request.

How do large business loans work?
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Large business loans work in a similar way to other types of loans, but with larger sums of money involved. At iwoca the process typically involves the following steps:

  • Loan application: you, the business owner, submit an application for a sum of money, which typically includes information about your company's financials, credit history, and the purpose of the loan.
  • Underwriting: we, the lender, will evaluate your application and make a decision on whether to approve it or not. This may involve verifying your business's financial information, creditworthiness, and other factors.
  • Loan terms: if you get approved, we’ll share the loan terms with you, including the interest rate, repayment schedule, and any fees associated with the loan.
  • Your decision: based on the information we’ll share with you, it’s completely up to you as to whether you take the loan. Our offers automatically last for 30 days, but do let us know if you’d like to extend this period if you need more time to think about it or discuss it with your business partners.
  • Money in your bank: Once you accept the loan terms, you’re free to draw down the funds
How do I apply?
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Sign up online and link your business accounts to iwoca, or upload bank statements, VAT returns or company accounts. We will make an instant assessment of your business and confirm your offer within hours. If you are happy to proceed you can withdraw the funds to your bank account.

How long does it take?
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It takes a few minutes to apply. Your account manager will then be able to review your account and put an offer in place within hours. Once you are approved you can withdraw the funds to your bank account, 24/7.

How much does it cost?
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Interest rates vary from 2% to 6% per month. Sign up to receive a tailored offer, with no obligation to proceed. Interest accrues daily which means you only pay for each day you have the funds. For example a business on a 3% monthly rate would only pay £1 per day for every £1,000 they had outstanding.

When do I need to make repayments?
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Minimum repayments must be made either weekly or monthly, depending on the repayment schedule you agree to when requesting funds. However, if you wish to keep the funds for less than the full 24 month term you can choose to repay early for free.

How do I make repayments?
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Minimum repayments are taken automatically via your registered debit card. Just make sure there are sufficient funds available in your bank account on your repayment date. You can also make free early repayments by bank transfer or debit card through your online account.

What happens if I miss repayments?
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We do our best to lend responsibly and encourage you to ensure that you can afford repayments before taking a loan. However, if circumstances change and you have difficulty making repayments get in touch with your account manager on 020 3397 3375. They will try to help you get back on track.

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.

Learn more
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Questions? We're here to help

Call us at 020 3397 3375 from Monday to Friday (9am - 6pm). We can take your business loan application over the phone, or answer your questions about applying online.

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Applying won’t affect your credit score

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Get approved in 24 hours

Applying won’t affect your credit score

What's next?

  • Apply in 5 minutes
  • Meet your account manager
  • Get money in the bank in hours

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