About Short Term Finance

As most small businesses know, since the 2008 credit crunch, traditional high street banks have reduced their lending to the small business sector (2014 SME lending fell by over £2 billion).

But the demand for vital funding from the small business sector has not diminished. Small businesses are the back-bone of the UK economy but small, growing businesses need flexible finance for items such as increasing working capital demands, larger premises and new equipment.

  • Flexible finance
  • Quick and easy to apply
  • Decisions within hours
  • Repayments to suit you

Cardswitcher Proposition

Cardswitcher has partnered with 2 leading global providers of Short Term Finance, iwoca and Capify, to offer our users easy access to the Short Term Finance market. Both iwoca and Capify have a reputation for service and speed delivered through their proprietary technology. Business loans offer fixed repayments so you know exactly how much you need to repay each month whilst Merchant Cash Advance has flexible repayments based on an agreed % of your daily card takings.

iwoca

iwoca's Business Loans

  • iwoca is based in London and since its launch in 2012 it has already grown into one of Europe’s leading fintech lenders and has lent over £70m to small businesses.
  • loans are unsecured short term business loans of £1,000 to £100,000 for up to 12 months
  • there are no arrangement fees and customers can repay early without penalty or drawdown further top up amounts (after 2 scheduled repayments)
  • repayments are made monthly from your debit card
Capify

Capify's Merchant Cash Advance

  • Capify launched in 2008 and is now one of the largest global alternative finance providers with offices in the UK, US, Candada and Australia (provided over £320m of funding to small businesses)
  • merchant cash advances can be from £3,500 to £500,000 for up to 12 months
  • repayments are made as 15% of your daily card takings. If your card takings are lower than usual then your repayments are lower. If that means the loan takes longer to repay than expected, there are no additional fees or interest. The total amount you repay is agreed at the start.
  • once 60% of your advance has been repaid, you can top up with another loan

Calculator

Try our easy to use calculator below to see how much you can borrow and the cost

Try our easy to use calculator below to see how much you can borrow and the cost. You can borrow up to 1.8 times your monthly turnover (15% of your annual turnover).

iwoca

Want to know more about what your business could borrow from iwoca?

Complete the form below to contact iwoca

Merchant Cash Advance - daily repayments at an agreed percentage of your daily card takings. If your takings are lower, your repayments are lower and your loan takes longer to repay BUT at no additional cost. Only available for businesses who have been accepting cards for at least 6 months.

£
months
Maximum Loan Advance Daily Repayment Interest Total Repayable
£ £ £ £
iwoca

Want to know more about what your business could borrow from Capify?

Complete the form below to contact Capify