Swoop Finance Limited, trading as Swoop Funding, is an FCA-authorised credit broker established in 2018. It operates a digital marketplace connecting UK businesses with loans, equity investments, and grants from over 1,000 funding providers. Swoop Funding uses technology such as open-banking and accounting software integrations to facilitate faster and more accurate eligibility checks. Its platform accommodates various business sizes, from startups seeking initial unsecured loans to experienced property developers requiring multimillion-pound funding. For a general view of business lending, visit business loans and startup loans.
Key Features of Swoop Funding
Swoop Funding combines advanced digital tools and personalised services to simplify business funding.
- Offers access to a broad range of loans and funding types via one application, easing comparison of business loans.
- Uses AI-driven matching to provide indicative offers in minutes and can fund unsecured loans in as little as 24 hours.
- Supports open-banking and accounting software integrations, reducing paperwork and enabling real-time eligibility checks.
- Provides personal funding managers for guidance, complementing the digital platform which includes a tracking dashboard and market alerts.
- Extends beyond loans to equity crowdfunding, angel investment, and grants, options less available via direct lenders.
Funding Eligibility
You may qualify for Swoop Funding's various products if your business generally meets requirements such as minimum trading periods and turnover thresholds. Most unsecured loans require at least six months' trading and turnovers between £50,000 to £250,000, but some startup schemes allow earlier-stage companies. Certain industries, including high-risk sectors like gambling or arms manufacturing, are excluded. Personal guarantees are commonly requested, particularly for unsecured products. For more on eligibility and personal guarantees, see how to qualify for a business loan in the UK, understanding personal guarantees, and application service provider.
Loan Options Available Through Swoop Funding
Swoop Funding's platform offers multiple loan types covering a range of amounts, terms, and rates. Below are key product examples:
- Unsecured Business Loan: £5,000 to £500,000, with terms from 3 months to 5 years and interest rates typically between 6.5% and 29.9% APR. These loans require personal guarantees and are suitable for businesses with 6-12 months of trading. Learn more about unsecured business loans.
- Secured Business Loan: £25,000 to £5,000,000, terms from 1 to 10 years, and interest rates from 3.9% to 12% APR. Collateral is required, with personal guarantees generally expected. See details on secured loans.
- Asset Finance (Hire Purchase & Leasing): £5,000 to £5,000,000, for 12 months to 7 years, with flat rates of 2.5% to 15%. The financed asset acts as security, with some products requiring personal guarantees. More on asset finance.
- Invoice Finance: Facility sizes from £50,000 to £10,000,000, typically advancing 80%-90% of invoice values. Used to improve cash flow, it requires approved invoices and often involves personal guarantees. Explore invoice finance.
- Merchant Cash Advance: £5,000 to £500,000, with short terms of 3 to 12 months and factor rates equivalent to 15% to 45% APR. Repayments adjust with card sales volume. Reference MCA loans.
- Revolving Credit Facility: £10,000 to £5,000,000, offering flexible draws and repayments with monthly interest from 0.5% to 2.5%. Typically unsecured but with personal guarantees. Details on revolving credit loans.
- Commercial Mortgage & Bridging Loan: £50,000 to £50,000,000, longer terms (3 to 30 years for mortgages; 3 to 24 months for bridging). Requires property security and personal guarantees in most cases. See commercial mortgages and bridging loans.
- Government Start Up Loan: £500 to £25,000 per director, fixed 6% interest, 1 to 5-year terms. Designed for new businesses with less than 36 months trading. More info on startup loans.
- Property Development Finance: £250,000 to £100,000,000, short terms of 6 to 36 months. Suitable for developers with experience and strong exit strategies. See development finance.
How to Apply Through Swoop Funding
The application process with Swoop Funding is largely digital and designed for speed where possible. Applicants should expect to provide key documentation and pass credit checks suitable to the requested product.
- Submit your application online using the Swoop portal, with phone assistance available. Start here: loan application form.
- Provide necessary documents such as photo ID, recent bank statements (via open banking or PDF), last filed accounts, and management accounts when requested.
- Undergo eligibility assessment including credit and affordability checks. Expect indicative decisions in minutes, full approval times vary from hours to weeks depending on loan type.
- Sign and return required agreements electronically to enable funds disbursal, which can be as fast as 24 hours for some unsecured loans.
Funding Agent's View on Swoop Funding
Swoop Funding is well suited for UK businesses seeking a broad choice of financing options through a single platform. Its strength lies in technology-driven matching, helping compare multiple lender offers especially for startups and established firms needing small to very large loans. However, businesses should consider that as a broker, lending terms, pricing, and funding timelines depend on third-party providers. Evaluate broker fees, personal guarantee requirements, and share of credit searches alongside the convenience and range on offer. For an informed decision, use Funding Agent’s tools, eligibility guidance, and loan application process to compare options thoroughly.
