Grants & Funding

Funding Circle: online lending for small businesses

Funding Circle was founded in the UK in 2010 to make it easier for small businesses to borrow. It has since helped more than 135,000 UK businesses borrow around £18 billion. Its range includes business term loans, FlexiPay (a flexible line of credit you draw on when needed), a cashback business credit card, and asset finance through partner lenders.

The online application takes a few minutes, a decision can come back in as little as five minutes, and approved funds are usually paid within 48 hours. Funding Circle Limited is authorised and regulated by the Financial Conduct Authority.

White Oak UK: loans, asset finance and invoice finance

White Oak UK is a Chester-based lender to small and medium-sized businesses and mid-sized companies, and part of the international White Oak Global Advisors group. It offers commercial loans, asset finance and invoice finance, and has originated more than £3 billion of loans since 2018. Its team supports over 20,000 businesses.

White Oak also offers fixed-rate, unsecured loans for specific costs such as tax bills, VAT and professional indemnity insurance, with decisions typically within 24 hours and a dedicated UK-based account manager. Where its own lending is not the right fit, it can look for funding across a wider panel of lenders. White Oak UK is authorised and regulated by the Financial Conduct Authority.

Swoop: loans, grants and equity in one place

Swoop is a funding platform that matches UK businesses with finance from a wide range of providers, including high street banks, alternative lenders and the British Business Bank. Through one application you can explore business loans (including start-up loans, working capital, invoice finance and merchant cash advances), grants such as innovation and sustainability grants, equity investment including SEIS and EIS, asset finance, commercial mortgages and R&D tax credits.

Swoop also helps businesses compare everyday costs such as business banking, insurance and energy. It acts as a credit broker, not a lender, and is authorised by the Financial Conduct Authority.

iwoca: flexible business loans from £1,000 to £1 million

iwoca’s Flexi-Loan is a flexible credit facility for small businesses. You can borrow from £1,000 up to £1 million over terms of up to 60 months, and use it for stock, growth plans or to keep cash flow steady. Interest is charged only on the balance you owe for the days you borrow it, and there are no fees for repaying early. Once you have repaid part of the loan, you may be able to draw funds again up to your limit.

Applying takes about five minutes and does not affect your credit score, and iwoca aims to give a decision within 24 hours. No assets are needed as security, but a personal guarantee is required (from a director, for a limited company).