How we're responding to the coronavirus outbreak

What we're doing to support small businesses during the Coronavirus outbreak.

20 March 2020

What steps can I take to protect my business?

Government, banks and lenders like us are all taking steps to help, here are some things you can do.

Put together a business continuity plan

A BCP helps you plan how to keep your business running smoothly in the face of disruption. It’s worth thinking about how your business could adapt to long periods of remote working or interruptions in your supply chain.

Check your business insurance policy

Find out if it covers ‘Business Interruption’ and if you have an extension for notifiable diseases. If you do, give your provider a call to find out if Coronavirus is covered.

If you haven’t already, speak to your bank

At the moment the fastest way to get access to the Government's Coronavirus Business Interruption Loan Scheme (CBILS) is to speak to your bank.

If your bank can’t help you, we might be able to

iwoca was recently accredited by the British Business Bank (BBB) as a CBILS lender. Through this scheme, we’ll continue to pursue our mission of getting small businesses the finance they need, when they need it.

Or, check out our full list of CBILS lenders.

We're an accredited CBILS lender.

Find out if you can get other Government support

It’s worth finding out if you could benefit from any of the tax cuts, cash grants or sick-pay rebates the government is offering. We’ve put together a coronavirus business finance tool to help you find the most suitable schemes for your business.

We’re putting together useful updates to help small businesses during the coronavirus crisis. Get them straight to your inbox by signing up here.

Will iwoca continue to offer loans?

iwoca will continue to lend through the CBILS scheme. We’re doing everything we can to support small businesses through coronavirus. Our whole team is now working from home – both day and night to get your business the finance it needs.

If you’d like to discuss our loans with a member of our team, give us a call on 020 3778 0274.

Is iwoca still taking applications from all industries?

We always look at your business as a whole so we’ve not ruled out lending to specific industries. But this does mean in order to lend responsibly we need to consider the impact that coronavirus has on each business. This will affect some industries more than others particularly after the government's social distancing measures that were brought into effect on 23 March.

What should I do if my business is affected by coronavirus and I can’t repay?

We’re always here to help. If you think you will have trouble repaying, let us know as soon as possible so we can work together to find a solution. There are lots of different ways we could help, just call us on 020 3778 0274 and we can find the right solution for you.

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Danni Camilleri is iwoca's Brand Manager. She writes articles for our insights page and leads on brand campaigns.

Article updated on: 20 May 2020

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Coronavirus updates for SMEs

Our coronavirus bulletin covers all the key developments and delivers a digested summary straight to your inbox. We’ll send these out whenever there are key updates we think will help your business.