Alternatives to iwoca
4 UK specialty finance alternatives to iwoca, compared on product type, ticket band, rate, decision time and eligibility.
iwoca vs the 4 alternatives
| Compared on | iwoca | Funding Circle | Capify | Liberis | Allica Bank |
|---|---|---|---|---|---|
| Product | Flexi-loan / line of credit | Term loan | Short-term business loans and supplier invoice payment | Revenue-based finance (merchant cash advance style) and pay-over-time funding for SMBs | SME term loan, asset finance + commercial mortgage |
| Ticket | £1k to £1m | £10k to £750k | £10k to £3m | £1k to £1m | £25k to £150k (business loans); up to £15m (commercial mortgages) |
| Rate | From 1.5% per 30 days | From 6.9% per year | Factor rate set by risk (not published) | One fixed fee, repaid as a percentage of sales (quoted per offer) | Business loans 9.90% to 13.75% interest; other products quoted per deal |
| Decision | Same day to 24 hours | As little as 5 minutes | Typically 24 to 48 hours; same-day funding available | Funding in as little as 24 hours | Money in days on business loans; longer for larger facilities |
| Soft search | Yes | Yes | Yes | No | No |
| FundBiz editorial tier | Top tier | Top tier | Strong | Strong | Top tier |
Sources: each lender's own published product pages, as recorded in our lender index: iwoca · Funding Circle · Capify · Liberis · Allica Bank. Figures change; confirm with the lender before you rely on one.
Funding Circle
As little as 5 minutes · From 6.9% per yearMainstream lender for term loans between £10k and £750k. It suits established Ltd companies with a trading record and clean credit that want a fixed-repayment term loan rather than a flexi or MCA.
Capify
Typically 24 to 48 hours; same-day funding available · Factor rate set by risk (not published)Short-term business lender that assesses cash flow and trading history rather than relying only on credit scores, which can help post-decline cases where credit history blocks a Funding Circle or iwoca term loan.
Liberis
Funding in as little as 24 hours · One fixed fee, repaid as a percentage of sales (quoted per offer)Embedded-finance specialist that suits businesses with an existing relationship with a partner platform (for example Worldpay, Barclaycard, Klarna, eBay, Dojo or Deliveroo).
Allica Bank
Money in days on business loans; longer for larger facilities · Business loans 9.90% to 13.75% interest; other products quoted per dealChallenger bank for established businesses: business loans of £25,001 to £150,000, asset finance of £25k to £2.5m and commercial mortgages of £150k to £15m (Allica's own ranges).
Frequently asked questions
What are the main alternatives to iwoca?
The closest UK specialty finance alternatives are Funding Circle, Capify, Liberis and Allica Bank. The table above sets them side by side with iwoca.
How does iwoca compare on ticket size and rate?
iwoca offers flexi-loan / line of credit, with tickets of £1k to £1m. Its pricing: from 1.5% per 30 days.
How quickly does iwoca make a decision?
Decision time for iwoca: Same day to 24 hours. Decision times for the alternatives are listed in the comparison table; faster isn't always cheaper, so weigh speed against rate and ticket fit.
Does iwoca do a soft-search quote?
iwoca runs a soft-search quote, so it says checking eligibility doesn't affect your credit score. Among the alternatives, Funding Circle and Capify offer a soft-search quote.
How we ranked these lenders
Every lender is scored on the same four FundBiz criteria: pricing transparency, eligibility clarity, decision speed and treatment of declined applicants. Scores are our own desk-research assessment built from the FCA Register, Companies House filings and each lender's published product sheets, not customer reviews and not hands-on product testing. Each list shows the date it was last updated. Inclusion is never paid for, and FundBiz receives no commission from lenders. FundBiz is paid a fixed fee by a business finance broker for each enquiry we pass on. See our full methodology.
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Send an enquiry →Last updated: . Editorial by Oliver Mackman.