Swoop Funding Alternatives

This guide lists five UK focused alternatives to Swoop Funding, so buyers can compare speed, eligibility, products, and pricing before applying. Data was generated on 20235-10-21T14:44:00Z; always confirm current terms with the provider.

Quick Compare:

1. Funding Circle

Funding Circle focuses on offering business loans, often with fixed and flexible repayment options. It suits UK businesses needing quick decisions and larger loan amounts. Collateral is not always required, and the provider emphasises transparency and speed in processing.

Loan and pricing details

• Min amount: £10,000
• Max amount: £750,000
• APR min: 6.9%
• APR max: Unknown
• Loan durations: 6 months to 6 years

Funding range note: from 10,000 to 750,000

Speed: decisions typically in 1-3 days

Interest rate notes: Fixed rates starting at 6.9% per annum. Rates depend on business profile.

Eligibility

• Min trading months: 12
• Min monthly turnover: £1,000
• Credit flexibility: Moderate

Personal guarantee: Personal guarantees may be required depending on loan size.

Homeowner advantage: Not specified, but typically beneficial for secured loans.

Services and sectors

• Products: term_loan
• Industries: retail, manufacturing, services

Best for

• small businesses
• competitive interest rates
• longer loan terms

Pros

• Competitive rates
• No early repayment fees
• Large loan amounts

Cons

• May require a personal guarantee
• Higher rates for higher risk

Sources: https://www.fundingcircle.com/uk/small-business-loans/

2. Funding Xchange

Funding Xchange provides a platform to compare various business loan options from many lenders. It guides users seeking flexible and tailored finance solutions. The service allows quick comparison and access to multiple loan types, often brokered or presented as unsecured and secured options.

Loan and pricing details

• Min amount: £1,000
• Max amount: £500,000
• APR min: 7%
• APR max: 25%
• Loan durations: 3 months to 5 years

Funding range note: from 1,000 to 500,000

Speed: Quick comparison tool for fast options

Interest rate notes: Representative APR between 7% to 20%. Rates fluctuate between lenders on the platform.

Eligibility

• Min trading months: Unknown
• Min monthly turnover: Unknown
• Credit flexibility: High flexibility across lenders

Personal guarantee: Varies by lender, often required for unsecured facilities.

Homeowner advantage: Can be advantageous for better terms.

Services and sectors

• Products: unsecured_loans, secured_loans
• Industries: technology, construction, retail

Best for

• businesses looking to compare loan options
• seeking alternative finance solutions

Pros

• Variety of loan options
• Quick comparisons
• Covers a wide range of credit profiles

Cons

• Rates can be high for some profiles
• Variable guarantee requirements

Sources: https://fundingxchange.co.uk/what-is-an-unsecured-business-loan/

3. ThinCats

ThinCats specializes in providing customised financial solutions for mid-sized SMEs. It often caters to businesses seeking large-scale loans secured on assets or property. The lender offers flexible repayment options and may serve customers with various credit profiles, often brokered or through tailored services.

Loan and pricing details

• Min amount: £1,000,000
• Max amount: £20,000,000
• APR min: Unknown
• APR max: Unknown
• Loan durations: 6 months to 5 years

Funding range note: typically from 1,000,000 to 20,000,000

Speed: Varies; tailored solutions may take longer

Interest rate notes: No fixed APR; rates are tailored based on business assessment.

Eligibility

• Min trading months: 24
• Min monthly turnover: Unknown
• Credit flexibility: Medium; tailored solutions with flexible terms

Personal guarantee: Commonly required for significant loans.

Homeowner advantage: May benefit depending on the loan type and business structure.

Services and sectors

• Products: term_loan, acquisition_finance
• Industries: healthcare, manufacturing, retail

Best for

• mid-sized businesses
• customised financial solutions
• large funding requirements

Pros

• Custom solutions
• Large funding capability
• Flexibility in repayment

Cons

• Not suitable for small businesses
• Complex application process

Sources: https://www.thincats.com/business-funding/funding-solutions

4. Fleximize

Fleximize offers flexible business loans, often with quick turnaround times. It caters to UK SMEs seeking unsecured or secured finance options with adjustable terms. The lender provides tailored solutions for various funding needs, often brokered for rapid access.

Loan and pricing details

• Min amount: £10,000
• Max amount: £500,000
• APR min: Unknown
• APR max: Unknown
• Loan durations: Flexible terms with early repayment options

Funding range note: up to 500,000

Speed: decisions as quick as 24 hours

Interest rate notes: Interest rates start from 0.9% per month, leading to potential high APRs.

Eligibility

• Min trading months: 6
• Min monthly turnover: £5,000
• Credit flexibility: High flexibility

Personal guarantee: Typically required for unsecured loans.

Homeowner advantage: May result in better terms.

Services and sectors

• Products: term_loan, revolving_credit
• Industries: retail, hospitality, services

Best for

• SMEs seeking flexible terms
• businesses needing fast decisions

Pros

• Flexible terms
• Fast decisions
• Top-up loan options

Cons

• Potentially high APR
• Personal guarantee often needed

Sources: https://fleximize.com/business-loans/uk

5. Iwoca

Iwoca specialises in providing quick and flexible funding solutions, often with minimal collateral. It aims to support SMEs with varying credit histories and offers fast decisions and access. Its focus includes unsecured and secured options suited for working capital and growth investments.

Loan and pricing details

• Min amount: £1,000
• Max amount: £1,000,000
• APR min: Unknown
• APR max: Unknown
• Loan durations: 1 day to 24 months

Funding range note: from 1,000 to 1,000,000

Speed: Quick decision and access to funds usually within a day

Interest rate notes: Rates start from 1.5% monthly, with flexible repayment terms based on credit assessment.

Eligibility

• Min trading months: 6
• Min monthly turnover: £2,000
• Credit flexibility: High, supports businesses with varied credit histories

Personal guarantee: Generally required for higher amounts.

Homeowner advantage: Beneficial for better rates and terms.

Services and sectors

• Products: term_loan, revolving_credit
• Industries: retail, tech startups, construction

Best for

• small to medium businesses
• quick funding needs
• flexible repayment

Pros

• High flexibility
• Fast access to funds
• No early repayment penalties

Cons

• High monthly interest rate
• Guarantee required for larger amounts

Sources: https://www.iwoca.co.uk/

Final notes

When comparing providers, match loan size, timeline, and sector fit first, then confirm current rates and fees with the finance provider. If one option declines your application, a broker or multi lender panel may still place the deal. You can choose between banks for larger secured loans, brokers for specialised or larger deals, and alternative lenders for quick or unsecured options. Matching the provider type to your use case helps ensure suitable finance solutions. For more details, see Funding Agent Funding Agent.