Finance
Financing Your Licensing Application Fees with iwoca
We recognize that some businesses may wish to spread the investment of an application over several months.
What is iwoca?
iwoca is a UK business finance provider that offers flexible business loans to help companies spread the cost of professional services, projects, stock purchases, and other business expenses. Loans are available from £1,000 upwards, subject to approval.
Who can apply?
In general, applicants must:
- Be a UK-based business.
- Be at least 18 years old.
- Trade through a Limited Company or Limited Liability Partnership (LLP).
Approval is subject to iwoca’s own underwriting and affordability checks.
How does the process work?
Step 1 – Request a Quote
Visit iwoca’s website and complete a short online application. Initial eligibility checks do not affect your credit score.
Step 2 – Business Assessment
iwoca reviews your business information and may request access to business banking or financial records to assess affordability and eligibility.
Step 3 – Receive a Decision
Many applications receive a decision within hours, with most approved applications completed within 24 hours.
Step 4 – Accept Your Offer
If approved, iwoca will provide a finance offer outlining the amount available, repayment period, and costs.
Step 5 – Funds Released
Once accepted, funds are transferred directly to The Licensing Guys ™.
Key Features
- Borrow from £1,000 up to £1 million, subject to approval.
- Flexible repayment terms of up to 5 years.
- No early repayment charges.
- Dedicated account management and online account access.
Typical terms
Repayment periods usually range from 3 months up to 12 months.
Loans can generally be repaid early without penalty, which can reduce the overall interest paid.
iwoca states that rates start from around 1.5% per 30 days, but the actual rate offered depends on the business’s circumstances, trading history, affordability, and credit assessment.
For longer-term borrowing, additional funding fees may apply and will be disclosed in the offer.
Summary
We are happy to introduce clients to iwoca as a potential funding provider. However:
- We do not arrange finance.
- We do not receive or assess finance applications.
- All lending decisions are made solely by iwoca.
- Any finance agreement is between you and iwoca.
- Finance is subject to status, eligibility, and lender approval.
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