Alternatives to iwoca

4 UK business loan alternatives to iwoca, compared on product type, ticket band, rate, decision speed and eligibility.

iwoca vs the 4 alternatives

iwoca compared with 4 alternatives, last reviewed 2026-04-26
	iwoca	Funding Circle	Capify	Fleximize	Tide loans (Funding Options)
Product	Flexi-loan / line of credit	Term loan	Merchant cash advance + term loan	Term loan with flex features	Broker / aggregator (not a direct lender)
Ticket	£1k to £500k	£10k to £500k	£3.5k to £500k	£5k to £500k	£500 to £20m (panel-priced)
Rate	From 2% per month	6.9% to 26.9% APR	Factor rate 1.15 to 1.45	From 0.9% per month	Varies by panel lender
Decision	Same day to 24 hours	1 to 3 business days	Same day	24 to 48 hours	24 hours to 5 days
Soft search	Yes	Yes	Yes	Yes	Yes
Rating	4.4	4.3	4.0	4.0	3.9

Funding Circle

1 to 3 business days · 6.9% to 26.9% APR

Funding Circle is the largest UK SME term-loan platform, founded 2010, FCA regulated, with tickets from £10k to £500k and decisions in one to three business days. The published rate range (6.9% to 26.9% APR) is wide, so

Best for: Established Ltd companies, Working capital £25k-£250k.

Capify

Same day · Factor rate 1.15 to 1.45

Specialist in merchant cash advance against card-machine takings. Fast, accommodating on credit history, but the factor-rate model makes effective APR opaque. Best fit for hospitality and retail with strong card-machine

Best for: Hospitality, retail, salons, Strong card-machine flow.

Fleximize

24 to 48 hours · From 0.9% per month

Direct lender with flex features (top-ups, payment holidays, reduced repayments during slow months). Underwriting more accommodating than mainstream term lenders for sub-2-year trading. Per-month rate hides effective APR

Best for: Seasonal businesses needing payment flex, 12 to 24 month-trading Ltd companies.

Tide loans (Funding Options)

24 hours to 5 days · Varies by panel lender

Tide loans is a broker product, not a direct lender. Tide Platform Limited (founded 2015, Companies House 09595646) acquired Funding Options in 2023 and now matches applicants to 80+ panel lenders for tickets from £500 t

Best for: Existing Tide banking customers, Post-decline rerouting via BRS.

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Last reviewed: 2026-04-26. Editorial by Oliver Mackman.