1. Set out below are the terms of our customer referral scheme (the “Scheme”). These are the terms under which iwoca Ltd (“We”, “Our” or “Us”) will make a payment (a “Referral Bonus”) to an existing customer (“You” or “Your”) who refers a new customer to Us (a “Referral”). 

Eligibility criteria

2. To be an Introducer, you must meet the following criteria:

2.1. You have been approved to enter into a credit agreement with Us as borrower prior to making the Referral; 

2.2. You are not making the Referral in the course of your normal business, trade or profession;

2.3. You are not an employee of Us; and

2.4. You have not entered into a commercial agreement with Us, under which we have agreed to compensate You for referring customers to Us.

3. A Referred Customer is a business which:

3.1. It is either a limited company or limited liability partnership;

3.2.Has never started an application to enter into a credit agreement with us;

3.3. Enters into a credit agreement with Us as borrower; and

3.4. Informs Us, prior to entering into the credit agreement, that they have been referred to Us by You. 

Referral Bonus

4. If You are an Introducer and we are informed by a Referred Customer that You have referred them to Us, we will pay you a Referral Bonus.
5. The Referral Bonus will be calculated as 2% of the amount of the first drawdown under the credit agreement between Us and the Referred Customer.
6. We will pay You the Referral Bonus 30 days after the first drawdown by the Referred Customer.
7. We will not pay You a Referral Bonus if the first drawdown is repaid within 30 days of being drawn down.
8. When a Referral Bonus is due to be paid to You, We will notify You by email. 

General terms

9. A Referral Bonus will only be paid once in respect of each Referred Customer.
10. We reserve the right to cancel or amend the terms of the Scheme without notice and We may do so by amending this page from time to time.
11. If iwoca is unable to provide the Referral Bonus for any reason, We have sole discretion to provide an alternative of similar value.
12. You agree to refund on demand to Us the Referral Bonus where you are found to be in breach of these terms and conditions.
13. The Referral Bonus is strictly non-transferable to another person.
14. Acceptance by You of these terms and conditions is a condition of the Scheme.
15. These terms and conditions are governed by English law and You agree to submit to the exclusive jurisdiction of English courts regarding any claims, disputes or obligations (including any non-contractual obligations arising out of or in connection with it).


The information contained herein is not prepared for the needs of any specific recipient. We make no representation, either express or implied, on the completeness, or reliability of the information contained herein. The information should not be regarded as a substitute for using your own judgement.  We reserve the right to change the information contained herein and such change may be without notice.  We are under no obligation to update the information.

We cannot be held liable for any IT system failure or delays or loss of entries. In addition, We will not be responsible nor liable for any loss, expense or damages suffered or sustained (whether or not arising from any person’s negligence) arising out of or in connection with the Scheme, including but not limited to, direct or indirect loss, loss of business profits, revenue or savings (whether or not such loss was foreseeable, arising from the normal course of business or where you have advised Us of the possibility of such loss or potential loss), force majeure (including but not limited to any Act of God, terrorism, war, political events, insurrection, riot, civil unrest, act of civil or military authority, uprising, earthquake, flood) or any director or indirect, consequential and incidental damages), or any event beyond the control of iwoca.

The above exclusions and limitations apply to the extent permitted by law.  

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