Iwoca Reviews

Iwoca provides flexible, fast loans with a straightforward application process, praised for excellent customer support and tailored financial solutions for small businesses.

Here are the Trustpilot Reviews from Iwoca:

Here are the Reviews from Iwoca:

Great service.

Ebi

I,required a business development loan in order to progress ,i thought that this would have meant jumping through hoops to attain the amount i needed. How wrong of me, the experience was painless i was given choices ,i have a dedicated point of contact in which to communicate my needs who met them ,i recieved my loan within a week of applying ,with faverable rates .i am more than happy with the service and the outcome ,would recommend. thank you Ryan.

Gary Andrews

Was all great and helpful

Algert Hysa

I used the to finance some equipment. That was 5 star service. Then I was in need of an argent loan and everything was okay until the day I was unable to pay foul amount. Before this I have asked for a new repayment agreement but was not possible. Darcy was helpful and frozen my account for 30 days but unfortunately my account passed to Adam. He never been straight and never respected my mental health.

Andreas Kotsos

IwocaPay gave us a great help for our business . I will recommend .

Chaouki Dellaa

Yes very satisfied thank you

K Martin

Explore Iwoca's Finance Solutions:

iwoca Flexi-Loan (Unsecured Revolving Credit Facility)

£1,000 – £500,000

iwocaPay (B2B Buy Now Pay Later / Invoice Checkout)

£150 – £15,000 per individual invoice (rolling credit line up to £50,000 per buyer)

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Explore Iwoca's Finance Solutions:

Loan Type:

iwoca Flexi-Loan (Unsecured Revolving Credit Facility)

Loan Range:

£1,000 – £500,000

Loan Terms:

1 day to 24 months (borrower chooses term; can repay early with no fee)

Minimum Turnover and Trading Age:

Minimum 3 months’ trading and evidence of regular business income (approx. £5,000+ monthly turnover typical)

Interest Rate:

Approx. 2% – 6% per month (representative 3.33% per month / 49.7% APR); rate individually priced

Fees:

No arrangement, admin, or early-repayment fees; borrower pays daily interest only while balance outstanding

Loan Type:

iwocaPay (B2B Buy Now Pay Later / Invoice Checkout)

Loan Range:

£150 – £15,000 per individual invoice (rolling credit line up to £50,000 per buyer)

Loan Terms:

Buyer chooses: Pay in 3 monthly interest-free instalments (90 days) or 30–90 days deferred payment

Minimum Turnover and Trading Age:

Seller: usually £50,000+ annual turnover and 6+ months trading; Buyer assessed individually

Interest Rate:

0% interest to buyers on Pay-in-3; sellers pay transaction fee typically 2% – 4% of invoice value

Fees:

No set-up fee; per-transaction merchant fee only; no early-repayment fee

Loan Type:

Recovery Loan Scheme Facility (Government-Backed Term Loan)

Loan Range:

£25,001 – £2,000,000 (up to £1,000,000 for sole traders/partnerships lacking limited liability)

Loan Terms:

3 months to 6 years (term loans and revolving credit)

Minimum Turnover and Trading Age:

Minimum 2 years’ trading preferred; must have been adversely affected by Covid-19

Interest Rate:

Typically 3.5% – 14.9% per annum, capped by scheme requirements; rate fixed for term

Fees:

No guarantee fee for lender; borrower pays all interest and fees from outset; no early-repayment fee from iwoca

Loan Type:

Coronavirus Business Interruption Loan Scheme (CBILS) – Discontinued

Loan Range:

£50,001 – £500,000 (historical)

Loan Terms:

12 to 60 months

Minimum Turnover and Trading Age:

Trading >12 months and Covid-19 impacted

Interest Rate:

Government paid first 12 months’ interest; thereafter c. 7% – 14% APR

Fees:

No arrangement fee; Govt covered guarantee fee for borrower; scheme closed 31 March 2021

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More About Iwoca

Iwoca Ltd is a UK-based financial technology firm founded in 2012, authorised and regulated by the Financial Conduct Authority (FCA reference 723378). It operates a data-driven online lending platform focused on short-term working-capital loans and embedded finance for small and micro-businesses in the UK and parts of Europe. Iwoca offers fast, flexible funding suited to businesses that require unsecured finance with quick decisions. For a broader insight on lenders, see our Iwoca Reviews and compare against other providers at Funding Circle Vs Iwoca.

Key features of Iwoca Ltd

Iwoca provides a fully digital process supported by open banking and accounting software integrations. It offers self-service management through an online dashboard and focuses on speed and transparency for small firms.

Complete online application with decisions in minutes for many products.
Integrations with Xero, QuickBooks, and FreeAgent enable effortless data sharing and account management.
Borrowers can manage draw-downs, repayments, and limit changes on a self-service dashboard.
Embedded finance extends via the iwocaPay B2B Buy Now Pay Later solution supporting merchants.
Offers Government-backed loans under the Recovery Loan Scheme with partial guarantees.

Funding eligibility with Iwoca

You may qualify if your business has at least a 3-month trading history, typically showing monthly turnover above £5,000 for the Flexi-Loan. Certain products like iwocaPay require at least 6 months’ trading with sufficient annual turnover, and the Recovery Loan Scheme prefers 2 years’ trading with demonstrated Covid-19 impact. Businesses must be UK-registered and operating across England, Scotland, Wales, or Northern Ireland. Some sectors, such as charities, financial services, and property development, are excluded. Personal guarantees are usually required for limited companies and partnerships. For details on qualifying, view our eligibility guide and loan calculators.

Loan options from Iwoca Ltd

Iwoca offers several short-term funding products primarily aimed at small and micro businesses needing flexible, unsecured credit facilities.

iwoca Flexi-Loan: unsecured revolving credit from £1,000 to £500,000, with terms from 1 day up to 24 months. Interest rates approximate 2% to 6% per month (representative 3.33% monthly / 49.7% APR). No arrangement or early repayment fees apply; personal guarantees required.
iwocaPay: B2B Buy Now Pay Later solution providing up to £15,000 per invoice and up to £50,000 credit per buyer. Buyers can pay interest-free over 3 months or defer payment 30–90 days. Sellers pay a transaction fee of 2% to 4%. Typically requires 6 months trading and £50,000+ turnover.
Recovery Loan Scheme Facility: government-backed loans from £25,001 to £2 million (up to £1m for sole traders/partnerships), with terms from 3 months to 6 years. Interest ranges from about 3.5% to 14.9% per annum. Early repayment allowed without penalty, but personal guarantees may apply for loans over £250,000.
Coronavirus Business Interruption Loan Scheme (CBILS) is discontinued but noted for historical completeness.

How to apply to Iwoca

The application process is digital and efficient, typically delivering rapid underwriting decisions. Expect to submit identification documents and business financials electronically.

Submit an online application via their mobile-responsive website or accounting software plugins.
Provide digital ID, proof of business banking via Open Banking or recent bank statements, and management accounts or VAT returns.
Iwoca conducts soft credit searches initially, followed by a full credit check upon acceptance.
Sign the loan agreement digitally, then draw down funds immediately where approved.

Funding Agent's view on Iwoca Ltd

Iwoca suits micro and small UK businesses needing short-term, flexible working capital without physical collateral. Its technology-driven approach enables quick decisions and clear loan management. The product range supports unsecured revolving credit, embedded credit solutions, and government-backed lending albeit with higher interest rates versus traditional bank loans. Larger SMEs or those requiring long-term affordable finance may find better options with banks or secured lenders. For further comparisons and to check your fit, explore our loan eligibility tools and browse other lender reviews.