Business loans to fund your next move
Borrow £1,000 to £1 million to cover a gap, buy stock or take on your next order. Apply in five minutes and seee what you qualify for.
- Checking your eligibility won't affect your credit score
- Instant decsion on many loans, or within 24 hours
- Only pay for the days you use it - no early repayment fees
How much can I borrow?
You can typically borrow up to 20% of your annual turnover, from £1,000 to £1 million.
Just starting out? We still lend to newer businesses. If you've been trading for under a year, loans are capped at £10,000.
How a business loan with iwoca works
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Why small businesses choose iwoca
A real person on your side
Every customer gets a dedicated account manager, and we answer most calls in under a minute.
Fast when it counts
Many customers get a decision in hours, not weeks.
No hidden costs
You'll see your rate and any fees up front, in plain English.
Brokers are turning away from the banks for bigger loans
When a small business needs to borrow over £100,000, most finance brokers now point them to alternative lenders like us, not the high street.
What a business loan costs
Our rates start at 1.5% per 30 days, and we onlly charge interest on our outstanding balance for the days you're using the loan. So the sooner you repay, the less you pay.
Our representative APR is 49%. For example, if you borrowed £10,00 over 12 months, you'd repay £12,294 in total.
There are no fees on 12-month loans. Longer terms may include a fee - typically 5% for 13 to 24 months, and 6% for longer. And there's never a fee for repaying early.
Applying for an iwoca business loan
takes about five minutes
Tell us about your business
Share a few basics and how much you'd like to borrow.
Connect your bank or upload statements
For most loans we'll ask for your recent bank statements. We don't need a business plan or financial forecasts - our smart lending model does the rest.
Get your decision
Many customers get an instant decision. For larger loans, one of our underwriters takes a look and comes back within 24 hours.
Draw down your funds
Once you accept. the money's yours to use as soon as you draw it down.
Will applying affect my credit score?
Checking your eligibility and applying won't touch your credit score. Here's exactly what happens, and when.
Business loans FAQs
How do I get a business loan?
Apply online in about five minutes. Tell us about your business, connect your bank or upload your statements, and we'll come back with a decision – often instantly, or within 24 hours for larger amounts. If you accept, you can draw down your funds straight away.
What do I need to apply?
Just a few details about your business and your recent bank statements. For larger or more complex loans we might ask for VAT returns or full accounts. You won't need a business plan or financial forecasts.
How much can I borrow?
From £1,000 to £1 million, up to around 20% of your annual turnover. The exact amount depends on your business – including your turnover, trading history and performance.
Can I get a business loan with bad credit?
Possibly. We look at how your business is doing, not just your credit score, so it's worth checking your eligibility. Applying won't affect your credit score.
How does a business loan work?
You borrow a set amount and repay it monthly over one to five years. You can draw down what you need when you need it, you're only charged interest on what you draw, and you can repay early with no fees.
Does a business loan affect my personal credit?
Applying won't – we only run a soft check. If you take the loan, we run a hard check and it shows on your credit file. We may also ask a company director for a personal guarantee, which means taking personal responsibility for the loan if the business can't repay it.
How long is my offer valid?
Your offer lasts 30 days. If it runs out before you're ready, just give us a call. We can look at getting you a new one.
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