iWoca Business Lending Review

  • Loan Types: Small B2B Loans
  • Availability: UK
  • Securities: Unsecured
  • Loan amount: £1,000 – £50,000
  • Interest: 4% – 14%, 1 month – 6 months
  • Overall Rating: Quick! 3.9 / 5.0

About iWoca

Originally geared toward small web merchants, iWoca has expanded its lending platform to meet the needs of nearly all UK businesses. Since its founding in 2012, iWoca has become established in the UK ecommerce market. iWoca balances convenience, security, and service, quickly gaining ground in a growing financial market.

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Sole Traders Approved

Whether you’re operating as a sole trader, partnership, or limited company, you can deal with iWoca as you long as you have £10,000 annual revenues

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Quick Approval

Easy application with high approval rates! iWoca may approve your business for borrowing within minutes

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Safe and Reliable

With average rating of a 9.7 on TrustPilot, and massive coverage by media including Tech Crunch, Wired,BBC, The Mail, and Forbes, everything will happen as it’s meant to be.

The Good and the Bad


  • Reliable and Uncomplicated.Users report friendliness and simplicity with every step of the loan process. Interest and payments are clear and well-understood by all before the loan is issued.
  • Fast Access. The application process is fast and uncomplicated. Many turned away from traditional lenders are approved here.
  • Quick Approval
  • 9.7 Score on TrustPilot


  • Pricing. This is to be expected with a loan of this type. With interest gathered monthly, costs can accumulate if loans aren’t paid off in a timely manner.

Which Type of Companies do They Apply to?

iWoca sets out to make loans available to all UK businesses. Even so, there are restrictions. In order to qualify, a business must:

  1. have a 4+ month trading history
  2. have £10,000+ annual revenue
  3. have business limited to the UK
  4. be a sole trader, partnership, or limited company

Are Bad Credit Businesses Accepted?

iWoca’s approval process is somewhat stricter than some competitors. Applicants must link one of several online accounts (their initial model, and most common technique) or upload bank statements, VAT returns, or company accounts. iWoca tries to gather a detailed understanding of your business in order to give a loan that you are able to handle.

Nonetheless, users report that they quickly received funding, without any paperwork, after being denied by the usual financial gatekeepers elsewhere.

Early Repayments & Comparison

All loans are issued for up to 6 months, but borrowers can pay off their loans at any time with no penalty.

How do they compare with other companies in the industry:

iWoca isn’t the only ecommerce company that emerged to target the needs of web merchants. Having since expanded their operations and offerings, iWoca has maintained service and integrity. While no company like this will offer cheap loans, their payment process is transparent and intuitive.

Reputation & Feedback


TrustPilot gives iWoca a strong 9.7, with nearly 200 reviews recorded. iWoca’s employees speak out with equal enthusiasm: a 4.6 of 5 on GlassDoor.

iWoca’s terms are clear and easy to understand. Their website is refreshingly intuitive to navigate. Questions are simple to find answers to. Long term users indicate consistency of service.

You can read about iWoca at SourceWireYHP Online, and TechCrunch.

For investors:

iWoca is funded by venture capitalists and private investors

For loans of  £1,000 to £50,000 iWoca is one of the best, fastest-growing business loan platforms.

Bottom Line

iWoca is a strong, growing company. Expect to see iWoca expand into more European markets in the coming months after years of explosive growth in the UK. Customers who understand B2B loans of this type would do well to borrow with iWoca over many competitors.