What it is
iwoca lends to small businesses in the UK and Germany with flexible loans and a revolving credit facility, using bank and accounting data for quick decisions. Interest is charged on what is drawn.
Who it suits
UK small businesses that need working capital in days rather than weeks.
How it charges
Interest is charged only on what you draw, quoted as a monthly rate, with no early-repayment penalty. Some products carry an arrangement fee; the total cost depends on your risk profile.
Getting started
Apply online in minutes, connecting business bank and accounting data. Decisions are often same-day; funds land in the business account shortly after acceptance.
At a glance
- Product
- Loans and credit line
- Decision speed
- Fast
- Security
- Typically unsecured (personal guarantee)
- Repayment
- Flexible
- Headquarters
- London
- Founded
- 2011
Strengths
- Quick decisions
- Pay interest only on what you draw
- Early repayment without penalty
Watch for
- Rates higher than bank loans
- Personal guarantee usually required
Readers ask2 questions answered
How fast is an iwoca decision?
Often the same day, using bank and accounting data you connect during the application.
Do I pay interest on the whole credit line?
No. Interest accrues only on what you draw, and you can repay early without penalty.
How it comparesIts standing in 1 comparison
Best for flexible working capital
- Product
- Loans and credit line 1 provider in this comparison
- Decision speed
- Fast 3 of them share this
- Security
- Typically unsecured (personal guarantee) 1 provider in this comparison
- Repayment
- Flexible 1 provider in this comparison
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