Short-term business loans: borrow over days, weeks and months
Cover a short gap without committing to years of repayments. Because we only charge interest for the days you borrow, a short-term loan can cost you less overall.
- Borrow £1,000 to £1 million
- Instand decsion on many loans, or within 24 hours
- No fees for repaying early – even after a day
When a short-term loan is the right choice
A short-term business loan is money you borrow and repay over months rather than years. It suits a specific, near-term need – not a long-term investment you'll pay back slowly.
It's a good fit when you can see the money coming back soon: a big order to fulfil, a seasonal stock-up, or a gap while you wait to get paid. If you're funding something you'll repay over many years, a longer term loan usually makes more sense.
Short-term vs longer-term: what it actually costs
How our customers use our short-term loan
Short-term business loans FAQs
What is a short-term business loan?
It's money you borrow and repay over months rather than years, usually for a specific near-term need like stock, a big order or a cash flow gap. You can repay early at any time with no fees.
Is a business loan short or long term?
It can be either. "Short term" generally means repaying within a year or so; "long term" means spreading it over several years. With iwoca you choose a term from one year up to five years, so you decide which suits you.
What are typical short-term loan rates?
Our rates start at 1.5% per 30 days, with a representative APR of 49%. You're only charged interest for the days you're using the loan, so repaying sooner costs less. At least 51% of customers borrowing £25,000 or less get our representative APR or lower.
Can I get a short-term 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.
What are the alternatives to a short-term loan?
Depending on your need, a longer-term loan, a business credit card or spreading supplier costs might fit better. If you'll repay over several years, a longer term usually costs less per month. We'll always be honest if another option suits you better.
How fast can I get a loan with iwoca?
Apply in about five minutes. Many customers get an instant decision, and larger loans get a decision within 24 hours. Once you accept, you can draw down your funds right away.
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