
What does iwoca do?
Similarly to Xero, iwoca is on a mission to improve the lives of small businesses. iwoca is not a bank, but an independent company custom-built for all small businesses to provide straightforward access to financing where and when they need it.
Flexi-Loan could help businesses who might:
- Require a short term cash flow solution
- Need working capital quickly
- Need to purchase stock
What is a Flexi-Loan?
iwoca’s Flexi-Loan is a 12 month line of credit that isn't secured against any of your assets. Access up to £200,000 quickly and easily, with no penalty fees for early repayment.
What are the benefits of iwoca’s Flexi-Loan?

Easy application
An application from within Xero can be submitted within minutes.

Quick decision
iwoca can make a decision on applications within 1 working day, if not instantly.

Fast funding
If approved, and once set up, funds are typically available within hours.

Fee free
No drawdown, maintenance or exit fees. Plus, there are no penalty fees for paying off your balance early. Only pay interest on the outstanding balance.

Top ups available
Easy and fast top ups for businesses who need more funds. Subject to iwoca approval.

Great for backup
With no maintenance fees - Flexi-Loan could be kept open in the background as a safety net for unforeseen costs.
How are costs calculated?
Only pay interest on the amount used, for the time it’s used for. Interest is calculated daily and charged monthly. Plus, if things are going well and the loan can be repaid early, there are no penalties.
For example, if you borrowed £10,000 at an interest rate of 3.33% per month and only needed the funds for 3 months, the total amount you'd repay is £10,673**
** The interest rate quoted is an example. Your actual interest rate will be set at application.
The interest rate is determined by iwoca and is based on a risk and credit assessment. Businesses will need to complete an application in order to see the interest rate and credit limit iwoca could offer them. iwoca eligibility criteria applies.*
How to apply
iwoca is only available to eligible small businesses selected for this pilot.*

Update Xero
Make sure the books are up to date - reconcile transactions and record income received.

Get indicative quote
Based on Xero data, Xero calculates an indicative quote for your client to review.

Connect Xero with iwoca
iwoca uses the data from Xero to enable a more streamlined application process.

Start the application with iwoca
Businesses may need to upload relevant documents and provide further details over the phone in order for iwoca to complete a credit assessment.

Get interest rate and offer
If approved, funds could be accessible within hours after setup.

Easy reconciliation
A direct feed into Xero makes reconciliation quick and easy, meaning up to date accurate records
No data is shared with iwoca without permission.