---
title: "Our product: Flexi-Loan"
description: "Understanding iwoca's flagship flexible credit facility for small businesses"
icon: "coins"
---

> For the complete documentation index, see [llms.txt](/llms.txt).

The iwoca Flexi-Loan is our flagship product – an unsecured, flexible credit facility from £1,000 to £1 million.
Customers are approved for a credit limit and draw down funds whenever they need them.
They only pay interest on what they use and can repay early without penalty.

## Key benefits

<CardGroup cols={2}>
  <Card title="Fast decisions" icon="clock">
    Automated decisions are typically returned in under 40 seconds.
    More complex cases are typically reviewed within 24 hours.
  </Card>
  <Card title="Access funds when they need it" icon="arrows-rotate">
    Customers can draw down funds as they need them, up to their approved limit.
    They don't need to take the full amount at once.
  </Card>
  <Card title="Pay only for what they use" icon="piggy-bank">
    Customers only pay interest on the funds they've drawn, not on their full credit limit.
    They pay interest only for the time they hold the funds, as interest accrues daily.
  </Card>
  <Card title="No penalties for early repayment" icon="check">
    Customers can repay ahead of schedule without extra fees.
  </Card>
  <Card title="Top up as they repay" icon="arrow-up">
    Once customers have repaid enough of their balance, they can apply for a top-up to increase their available credit.
  </Card>
  <Card title="Flexible repayment terms" icon="calendar">
    Each drawdown is repaid in monthly instalments over various terms from 12 to 60 months.
  </Card>
</CardGroup>

## Who's eligible

<AccordionGroup>
  <Accordion title="Business structure and applicant">
    We lend to UK-based limited companies and limited liability partnerships (LLPs).
    We don't lend to sole traders.
    Applicants must be a director of the business, based in the UK, and at least 18 years old.
  </Accordion>
</AccordionGroup>

---

## How it works

```mermaid
graph LR
    A[Application] --> B[Assessment]
    B --> C[Offer]
    C --> D[Verification]
    D --> E[Funding]
```

- **Application** – Customers give basic business information – as little as 10 seconds with integrated partners.
- **Assessment** – Automated decisions in under 40 seconds; complex cases typically reviewed within 24 hours.
- **Offer** – Customers receive their approved credit limit and terms.
- **Verification** – Identity, bank account, and loan agreement confirmed digitally.
- **Funding** – Funds transferred to the business account, typically within 24 hours.

---

## Next steps

<CardGroup cols={2}>
  <Card title="Integration options" icon="plug" href="/guides/integration-options/overview">
    Explore how to offer Flexi-Loans to your customers
  </Card>
  <Card title="Access the API" icon="key" href="/guides/getting-started/authentication">
    Get your API key and connect to the sandbox
  </Card>
</CardGroup>