Small business loans

Borrow £1,000 to £200,000 for up to 12 months. Fast and fair decisions. Repay early to save interest.

Borrow up to


Apply in

5 minutes

Funds in your account

within 24 hours

Grow your business

Hiring staff. Buying equipment. Launching products. Growing your business takes investment, and a small business loan will help you get the finance you need when new opportunities come up.

How to get a small business loan

  • Apply in minutes
  • Get a decision
  • Draw down funds

We like to keep things simple. First, to get to know your business a little better, we’ll need a couple of docs from you:

  • bank statements
  • VAT returns
  • or company accounts

Then if you're eligible, we'll approve you for up to £200,000. This is usually about one month's turnover for your business. You can take as much of this as you need. Repay early anytime with no fees or charges.

Why use iwoca?

It’s quick and simple to apply online. Our application process just takes five minutes to complete and won't affect your credit score. Even though we're fast, we're serious about lending responsibly. We use award-winning technology to make fair decisions based on your business performance overall, not just your credit score. Without any rigid criteria or endless paperwork.

We designed our small business loans to be fast and flexible for small business owners. Your funds will be in your account when you need them. iwoca finance can boost your business’ day-to-day cash flow or fill the gaps in your working capital. Our customers use small business loans to bridge late invoices, invest in stock and cover unexpected expenses.

Small business loan interest rates

Our rates start at 2% a month, your personalised rate will depend on your business performance. We charge interest daily on outstanding balances, with no hidden fees.

How much can I borrow?

6 monthly repayments of £1,866

Total repayment of £11,197 (3.33% interest rate per 30 days)

Borrow up to £200,000

For up to 12 months

Need help? call us

This calculator is just an example, so the total amount payable may be different when you apply. Let’s say you’re investing in your small business with a large purchase of new stock. If you borrowed £10,000 for 12 months at 49% representative APR, with an interest rate of 40% p.a. (variable), then, all in all, the total amount you’d repay would be £12,165.

There are a lot of different types of small business loans with interest rates and payment terms changing between lenders. Check out our guide to the 10 best business loans in the UK to see what's out there.

Quick fire facts

  • We've offered funding to more than 50,000 businesses and counting. We're committed to helping small businesses thrive. From cafes to car dealers, hotels to hair salons, our customers fuel local economies across the UK.

  • Personalised customer service makes finance simple. Each of our customers gets a dedicated account manager. When you call, you'll get straight through to someone in our UK office. Our customers have rated us 4.8 in more than 3,900 reviews on TrustPilot.

  • We built our hassle free finance just for small businesses. We designed our business funding to strip out the paperwork and wait times of traditional lenders. Instantly connect your accounts from Lloyds, Barclays and HSBC through open banking.

  • Flexible funding on your own terms. Take as much you need up to your credit limit, when you need it. Then, like with a personal loan, you can choose weekly or monthly repayments. Repay early anytime to save interest with no fees.

Other ways to get business finance

Whatever your annual revenue, there are lots of alternative funding options you could use to increase your business’ working capital.

Trade credit

Using trade credit allows you to delay payment when buying stock from a supplier. It's an interest-free option and can offer a 1-3% discount to buyers who pay early.

Commercial mortgages

With a commercial mortgage you can buy land or a business property. A business mortgage is a form of secured business loan and usually lasts from three to 25 years.

Business credit cards

A business credit card is a finance option to help you purchase whatever your business needs whenever it needs it, up to a credit limit. Interest is charged monthly on your outstanding balance.