Our founders, Christoph and James, launched iwoca in March 2012 with the mission of offering a fast, flexible source of finance for all types of small business. Since then, we’ve lent over £200 million to companies across the UK.

Our main product is a small business credit line which is perfect for short-term borrowing – e.g. when you need to pay upfront for stock, make a short-term investment, bridge a cash flow gap or finance a project.

How much does it cost?

It’s completely free to get approved and there are no commitments.

Once you're approved, you'll be given a credit limit and interest rate based on your business profile and will be able to see how your repayments vary based on how much you borrow and for how long. In the meantime, you can see a representative example of our pricing with our interactive calculator.

How much can I borrow?

We offer credit limits between £1,000 and £100,000. The amount we offer is based on your business profile. As a rule of thumb, it can be up to one month's revenue but it does vary based on other factors such as your profit margin.

For startups with no trading history, credit limits are up to £10,000.

Will my credit line be secured against an asset?

No, we don't take any security and have no asset requirements. All we need is a personal guarantee. For limited companies, this should be from a company director. You can find out here why we ask for a personal guarantee.

Can I draw down more funding during my loan?

Yes, we’re generally happy for you top up back to your credit limit provided you have paid off at least one-third of your original loan. We'll just need to confirm that your business performance remains strong before we can approve your top-up. This may require updated documents but it usually only takes a couple of hours.

Sounds good. How do I get started?

You just need to submit an application through our easy online process. You can get approved with no fees or commitments so it's worthwhile even if you don't need the funds straight away. Applying only takes a few minutes and we'll aim to make a decision within a few hours.

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