iwoca offers credit to SMEs across Europe allowing them to grow their businesses and meet cashflow requirements.
They offer a revolving credit facility that can be used to meet the cashflow needs so small businesses as and when they arise, making it one of the most flexible facilities on the market.
You only pay for the facility when you use it so it is fair, affordable, and transparent.
You will have a dedicated account manager who is always on hand to help you throughout your lifetime as an iwoca customer.
Minimum Turnover: £12,000 per annum (for a £1k facility)
Years/Months Trading: Any – we can consider from start up to well established.
Loan Amount Spectrum: £1,000 – £150,000 (up to one month’s turnover)
Loan Terms: 12 Month Revolving Credit Facility and 36, 6 Month Term Loan.
Fees: None to client (5% arrangement fee for 36-month term loan)
Interest Rate Pricing (Monthly/Yearly): 2-5.9% monthly for RCF, (1.1- 4% Term Loan)
- £0-£10,000 - 3 Months Bank Statements & Filed Accounts
- £11,000-£20,000 - 3 Months Bank Statements, Latest VAT statements & Filed Accounts
- £21,000-£40,000 - 6 Months Bank Statements, Latest VAT statements & Filed Accounts
- £41,000-£150,000 - 6 Months Bank Statements, Latest VAT statements, Aged Debtor Book & Filed Accounts