Iwoca - Flexi-Loan

Iwoca - Flexi-Loan

What is your product?

iwoca specialise in short term, flexible finance tailored to the needs of small businesses. Our Flexi-Loan is an unsecured credit facility from £1000 - £200,000 that can be used for up to 12 months and there are no hidden fees, no lengthy forms, and no long-term commitments.

How does it work?

Our Flexi-Loan has no fees whatsoever. The only charge is the daily interest on your outstanding balance and you can repay early - this means you’ll only be charged interest on what you use. So if you only need funds for two weeks, that’s all you pay for. 

How would a business use your product?

We serve a range of small businesses and the Flexi-Loan is great for short term uses such as: investing in stock, managing cash flow gaps, bridging invoice payments, or any other short term needs.

What are the approximate costs?

Our interest rates vary from 2% to 6% per month, with no early repayment fees, and are only charged on the outstanding principle. Representative APR 49%. 

How long does it typically take to secure funding?

We’ll likely come back to you with a decision within 24 hours and in some cases you’ll receive a decision instantly. Once approved, funding can be secured with a few simple steps on the same day. 

What type of security or other requirements do you have?

Our loans are unsecured, meaning we ask for a personal guarantee on any funds taken. We may also ask for recent bank statements, VAT, or company accounts to support your application depending on the amount you’re requesting.

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Enter a funding amount between £500 and £50,000,000.
Please indicate what you need the funding for.