There are no pre-set finance plans. Rates start from 2% per month and are based on our lender’s comprehensive review of your company. Your quotation will be based on your overall real business performance and not just a credit score. Business loans behave like an overdraft or line of credit where interest charges are incurred on the balance outstanding every day. The faster you repay it, the less interest will be incurred.
You can use our lender’s calculator at https://www.iwoca.co.uk/calculator/equal-repayments to see how monthly instalments vary based on the purchase amount you are interested in.
If accepted, the lender will present to you the full loan amount, the monthly payments and the duration of the loan. These monthly repayments are the minimum payment expected by the lender. Finance is available for orders of minimum £250 and maximum £15,000. The duration of all loans is 12 months. We do not accept any deposits. No extra fees involved.