iwoca was founded to expand possibilities for small businesses.

Who is Iwoca?

Iwoca are a London based short term business finance lender with over 200 staff. Since March 2011 when the founders Chris and James started the business, Iwoca has made funding available to over 50,000 UK businesses.

What type of funding does Iwoca offer?

Iwoca offers unsecured business loans between £1000 and £200,000. The funding is made available to you and you choose how much to transfer over to your business bank account. The funding can be made available in just a few hours and interest is only applied on the days you have the money.

An iwoca business loan is a fast and flexible source of business finance suitable for many types of small business. The loans can be used for a wide array of business purposes. From bridging short-term cash flow gaps to investing in stock, purchasing assets and business general growth.

Iwoca will consider business applications who are at various stages. From relatively young startups to SME’s and established companies.

You must, however, be a UK based business and operate as a sole trader, partnership or limited company. Startup businesses are limited to a maximum credit limit of £10,000.

The credit limit is typically based around one month’s revenue. As your business grows they are happy to increase this limit.

The maximum loan term is up to twelve months but you can always repay early if you don't need the funding for your agreed lending period. They only charge interest on each day that you have the funding, so if you make repayments early, then you can reduce the total amount of interest you pay overall.

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