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.

Frequently asked questions

What are the main alternatives to iwoca?

The closest UK alternatives are Funding Circle, Capify, Fleximize and Tide loans (Funding Options). Each is compared above on product type, ticket band, typical rate, decision speed and eligibility so you can match a lender to your deal size and credit profile.

How does iwoca compare on ticket size and rate?

iwoca offers flexi-loan / line of credit from £1k to £500k at a typical From 2% per month. The alternatives in the table span different ticket bands and rate ranges, so the right fit depends on how much you need to borrow and your trading profile.

How quickly does iwoca make a decision?

iwoca typically reaches a decision in Same day to 24 hours. Decision times for the alternatives are listed in the comparison table; faster is not always cheaper, so weigh speed against rate and ticket fit.

Does iwoca do a soft-search quote?

iwoca runs a soft-search quote, so checking eligibility leaves no mark on your credit file. Among the alternatives, Funding Circle, Capify, Fleximize, Tide loans (Funding Options) offer a soft-search quote.

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