Banks are still responsible for 85% of Small and medium business funding. At Forward Accounting we work closely with all major banks and have built strong relationships to be able to introduce you to a suitable mainstream lender. Not only that we are able to support you with your application, in gathering information and preparing reports to support your application.
Get in touch today to discuss your finance needs
As mentioned above, bank funding is still responsible for 85% of SME funding. However, scarily there is still a £10 million gap in unmet funding from the banks to small and medium businesses, and the application process can take several weeks.
At Forward Accounting, we have partnered with Iwoca. A lender that has been created to fill the gap for SME’s in providing funding quickly and up to the limits of £200,000. Iwoca can connect to our cloud accounitng technology to pull live data to assess your application, reducing the lead time of application from weeks to minutes
With the option of a Small business Loan, or use of their credit line facility (a fund in which you can withdraw on and payback when you need it) they are sure to have the funding options you need. With clear, transparent pricing you will know exactly where you stand.
Why choose Iwoca
1. Approval in minutes
2. Credit limits are based on your business performance – they can typically lend up to one month’s revenue, or up to £10,000 for a startup business.
3. Take the funds – Draw down as much as you need, when you’re ready. Most businesses use iwoca to manage cash flow gaps, buy stock or make investments.
4. Repay or top up – Keep the funds for 12 months or repay early to save interest. You can also top up, up to your credit limit (subject to approval).
5. No personal guarantees! Unlike the bank, Iwoca do not rely on personal guarantees and securities for their lending.
Having lent over £500 million so far, and with a 9.6 rating across 2,940 trustpilot reviews, you know you are dealing with a professional and responsible lender that can deliver funds far quicker than the banks.