iwoca
Panel anchor for flexi working capital. We route applicants here when the cash need is draw-as-you-go rather than a single lump sum, when trading time sits between 12 and 24 months, or when the file is too thin for Funding Circle but still too clean for the post-decline panel. Comfortable with sub-12-month trading where Funding Circle declines outright. Fastest mainstream decision time on our panel.
Quick routing verdict
- Product: Flexi-loan / line of credit.
- Ticket band: £1k to £500k.
- Decision time: Same day to 24 hours.
- Pricing: From 2% per month.
- Soft search at quote stage: no credit-file footprint.
- FCA-authorised.
At a glance
- Legal entity
- iwoca Limited
- Companies House
- 07798925
- Founded
- 2011
- Product
- Flexi-loan / line of credit
- Ticket range
- £1k to £500k
- Decision time
- Same day to 24 hours
- Ltd-only
- Lender accepts other structures, FundBiz routing is Ltd-only
- Last reviewed
- 2026-06-12
Why we route here
- Same-day decisions for most applicants, which keeps the matcher quote-to-funding window short.
- Flexi-loan structure means the applicant only pays interest on what they draw, useful for cash-flow-gap files.
- Soft search at quote keeps the credit file clean while the matcher tests fit.
- Comfortable with sub-2-year trading and lighter credit profiles where Funding Circle declines.
When we route elsewhere
- Per-month rate looks low but compounds, which the matcher translates into APR-equivalent for the applicant.
- Lower max ticket than Funding Circle for top-tier borrowers, so £250k+ clean files often route to Funding Circle, Allica or OakNorth.
- Personal guarantee required, which we flag at matcher stage.
- Bad fit for fixed-term project finance where the applicant wants a single lump sum and a fixed schedule, route to Funding Circle or Allica.
Best fit applicants
- Working capital and cash-flow-gap files needing flexible draw-down
- Newer Ltd companies trading 12 to 24 months
- Applicants who want soft search and same-day decision
Where iwoca is the wrong fit
- Fixed-term project finance, route to Funding Circle or Allica
- Pre-revenue startups, route to Start Up Loans Company
- £500k+ asset-backed deals, route to OakNorth or Allica
If declined by iwoca
If your application to iwoca is declined, the FundBiz post-decline matcher routes by decline reason. Common alternatives in our panel are listed in the "When we route elsewhere" section above. See also our iwoca decline runbook for sector-specific routing detail, and our side-by-side guide to iwoca alternatives for the closest UK specialty finance providers.
Other panel lenders
- 365 Business Finance, Merchant cash advance
- Aldermore, Asset finance, invoice finance, commercial mortgages
- Allica Bank, SME term loan + commercial mortgage
- Bizcap, Specialist post-decline / fast cash
Editorial reviews
For independent editorial reviews of iwoca and the wider UK SMB lending market, see our sister site BestBusinessLoans.
Run the matcher
Tell us your turnover, sector and ticket size. We score against iwoca and the wider FundBiz panel, then surface the lenders most likely to approve. Limited companies, LLPs and partnerships of 4+ only.
Open matcher →Last reviewed: 2026-06-12. By Oliver Mackman.