Some lenders allow early repayments without a prepayment penalty.

FINANCE OPTIONS

^{Understanding} Business Loans: A Comprehensive Guide

Q: How much can I borrow?

Most providers will lend about 10-30% of your annual turnover.

Q: Will my credit score be affected?

Signing up on our website wonât affect your credit score.

Q: Are loans from iwoca secured?

No, iwoca offers unsecured loans with no asset requirements.

Business loans are money that a bank or lender gives to a business to help it grow or manage expenses, which the business promises to pay back over time. If you're thinking about expanding your business, a loan might be a helpful option to consider.

Apply for business financing up to £500,000

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Quick and easy application process
Loan disbursed within 24 hours
No additional charges for early repayment

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Lenders

Loans from

£1000
to
£500K

zero hidden fees

What are the ^benefits of Business loans?

Business loans provide essential funding that allows entrepreneurs and company owners to invest in resources, expand operations, manage cash flow, and seize new opportunities. They help bridge financial gaps and foster growth at various stages of a business's lifecycle, making them a critical tool for success in the competitive market.

Access to capital

Business growth support

Flexible repayment options

What are the different types of Business loans?

Term Loan

A lump sum amount borrowed and repaid over a set period with interest.

Term Loan

Term loans provide businesses with a fixed amount of capital repaid over a predetermined period, usually with regular installments and a set interest rate. They are often used for major investments, such as equipment or expansion.

Line of Credit

A flexible loan allowing businesses to borrow up to a certain limit as needed.

Line of Credit

A business line of credit gives access to funds up to a preset limit. Interest is only paid on the amount drawn, making it ideal for managing cash flow or covering short-term expenses. It offers flexibility compared to traditional loans.

SBA Loan

A loan partially guaranteed by the U.S. Small Business Administration to help small businesses qualify for funding.

SBA Loan

SBA loans are government-backed loans designed to help small businesses get financing with favorable terms, such as lower down payments and longer repayment periods. The partial government guarantee reduces risk for lenders.

What is a business loan?

Term Loan

A Term Loan is when a business borrows a set amount of money and pays it back in regular, fixed payments over a period of time, usually with a fixed interest rate.

Line of Credit

A Line of Credit lets a business borrow money as needed up to a set limit. They only pay interest on what they use, and they can keep borrowing and repaying as needed.

SBA Loan

An SBA Loan is a business loan that is partially backed by the U.S. government, helping small businesses qualify for funding that they might not get otherwise. These loans often have good terms and flexible guidelines.