Provider profile · 2026 edition
iwoca review 2026: scores, fees and alternatives.
A UK lender offering flexible business loans from £1,000 to £1 million and business credit cards.
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A UK lender offering flexible business loans from £1,000 to £1 million and business credit cards.
iwoca scores 3.1 out of 5 (62 out of 100) in the Buckingham Intelligence Revenue-Based and Working Capital Finance Index 2026 and ranks 2 of 12. It is strongest for UK limited companies wanting a representative APR and money within hours, with 5 out of 5 for limits and speed. Not published or not stated on the pages read: regulatory standing, published eligibility and borrower terms.
Scores from the Revenue-Based and Working Capital Finance Index 2026.
| Segment | Score out of 100 | Rank |
|---|---|---|
| For online and retail brands | 63 | 2 of 12 |
| For software and subscription firms | 62 | 2 of 12 |
| For small businesses and merchants | 62 | 1 of 12 |
The score out of 5 is the overall score out of 100 divided by 20. Leader goes to the top three overall, Best for to the first in each segment, and Top rated for to a score of 5 out of 5 on a criterion. Awards cannot be bought.
Where it scores best, and where to check closely, as shown in each ranking.
UK limited companies wanting a representative APR and money within hours.
What iwoca publishes on its own pages, read on 26 October 2026.
A UK lender offering flexible business loans from £1,000 to £1 million and business credit cards. It publishes a representative APR, typical extra fees for longer terms and no early repayment charge. It asks for a director's personal guarantee and publishes no minimum turnover or security certification.
| Fact | What the provider publishes |
|---|---|
| Products | Business loan (Flexi-Loan), business credit cards issued by Enfuce UK Limited, and iwocaPay for sellers. |
| Pricing | "Our business loan interest rates start at 1.5% per 30 days"; example "3.33% interest per 30 days (49% APR representative)"; fee "typically it's 5% when borrowing for 13 to 24 months and 6% for longer". |
| Limits and speed | "Borrow £1,000 - £1,000,000 for 1 day to 5 years"; "the funds will typically be in your account in hours." |
| Eligibility | "you must have a UK-based business and operate as a limited company or limited liability partnership"; "Startup businesses are limited to a maximum credit limit of £10,000." |
| Borrower terms | "For limited companies we do ask for a personal guarantee, typically from a company director." "we'll never charge you for repaying early." |
| Regulatory standing | "iwoca Ltd is registered with the Financial Conduct Authority under the Payment Services Regulations 2017" (reference 791804); ICO registration Z3007540. No security certification stated. |
| Date read | 26 October 2026 |
A fact that is not published is scored as not offered or, for a fee, as if it were high. It is never estimated.
Facts read on 26 October 2026 from: iwoca.co.uk/flexiloan, iwoca.co.uk/faq, iwoca.co.uk.
Each score with the evidence behind it.
Each criterion is scored 0 to 5 against the best published offer in the Revenue-Based and Working Capital Finance Index. 0 means not offered or not published. How it is scored
The other providers in the same ranking, ordered by score.
| Provider | Score out of 5 | Rank | Strongest for |
|---|---|---|---|
| Clearco | 3.4 | 1 of 12 | US online brands with over $100,000 monthly revenue wanting clear borrower terms |
| Bluevine | 3.0 | 3 of 12 | US companies with 12 months' trading wanting a line of credit next to a business account |
| Liberis | 2.9 | 4 of 12 | UK merchants wanting a published representative cost and a range of advance sizes |
| Wayflyer | 2.6 | 5 of 12 | Online and retail brands in 11 countries wanting a single fixed fee |
| Stripe Capital | 2.5 | 6 of 12 | Businesses already processing payments on Stripe in six countries |
| Lighter Capital | 2.2 | 7 of 12 | Software and technology firms in the US, Canada and Australia with $200,000 or more recurring revenue |
| Founderpath | 2.1 | 8 of 12 | Software firms with $1m to $3m recurring revenue wanting money within a day |
| Funding Societies | 1.9 | 9 of 12 | Small firms in Singapore and South East Asia wanting a range of unsecured loans |
| Capchase | 1.9 | 10 of 12 | Software and subscription firms wanting a revolving limit tied to recurring revenue |
| Fundbox | 1.4 | 11 of 12 | Platforms and small businesses in four countries wanting the widest product range |
| Shopify Capital | 1.1 | 12 of 12 | Shopify merchants in nine countries |
Full Revenue-Based and Working Capital Finance Index ranking
Side by side on every criterion, fact and award.
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