iwoca Business Debts

iwoca offers unsecured loans with no asset requirements. For limited companies, iwoca does ask for a personal guarantee, typically from a company director.

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It is very important to understand that iwoca business loans have personal guarantees attached.

So just ignoring the debts could cause issues for the business closure and also personal debts.

In our iwoca Business Debts guide, we explain everything you need to know about repayments to iwoca.co.uk and if these debts can be legally written.

Who Are iwoca?

iwoca is an online Fintech company based in London.

It offers credit facilities to small businesses trading in the UK via an automated lending platform.

CEO Christoph Rieche and CTO James Dear founded iwoca in October 2011 and the company started trading in March 2012.

iwoca Limited is authorised and regulated by the Financial Conduct Authority (reference number: 723378) in relation to regulated credit agreements.

What does iwoca stand for?

iwoca stands for instant working capital.

iwoca goal is to provide straightforward access to finance where and when UK businesses needs it.

The iwoca lending system has been designed with speed in mind, offering working capital loans which can be applied in minutes and transferred within hours.

Personal guarantees by directors

For UK limited companies, iwoca does ask for a personal guarantee from a company director.

iwoca personal guarantees by one or more directors mean that the director of a company is personally liable to repay the debt if their business is unable to.


Agreeing to a personal guarantee on business finance is a significant decision which should never be made lightly.

Getting Advice on iwoca Business Debts

If you are worried about iwoca business debt issues around personal guarantees as a company director it is very important you seek professional debt advice.

Throughout the United Kingdom, there are many corporate financial advisors and insolvency specialists who offer free advice and support to business directors during difficult moments.

An iwoca personal guarantee debt can become a source of real worry when a company’s financial position is such that creditors are calling in their debts and assets are being seized. For directors, having personal finances and assets become part of the corporate insolvency picture can be a nightmare scenario.

Get in touch today to speak directly to an insolvency and business rescue specialist. Offering free and independent advice, by phone or at your place of work or one of our UK offices could be one of the most valuable decisions you make.

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How To Deal With iwoca Personal Guarantees

If you have a personal guarantee with iwoca then there are a few options to properly deal with this. You can either:

Negotiating a personal guarantee isn’t unheard of but can be fairly complicated once a business is getting close to insolvency.

If a company has a healthy financial, it is more likely that agreement can be reached between the business and debtor. Get in touch today using the contact form provided for more information on this.

Can You Avoid iwoca Personal Guarantees?

You can avoid a iwoca personal guarantee by taking out personal guarantee insurance, prior to taking out contract.

In some cases, you can refuse to sign the personal guarantee or cross out this section of the contract but iwoca will not accept this.

Struggling To Pay iwoca Business Loans

If you have taken out a business loan with iwoca you will generally be paying this back for around 3 to 5 years with 6% interest.

If you have difficulty making repayments you can first speak to your account manager to see what solutions they have.

If you are struggling to pay your iwoca business loan and have been unable to resolve with your account manager there are also other options available to you.

Speak to a licensed insolvency professional today who can give free advice on the matter.

iwoca Debt Help Solutions

There are a few options which can help with your iwoca debt, these include:

  • An administration order – payment plan managed by the court.
  • Arrangement agreed with creditors.
  • Filing for bankruptcy.

If you have personal guarantees, it is advised that you speak to a business debt professional to talk you through alternative processes.

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Can iwoca Debts be Written Off?

You may be able to have some of your iwoca debt written off if you file for an administration order. This is referred to as the composition order.

You can request a composition order from the judge, or the judge may decide to issue one after reviewing your financial situation.

You’ll normally only be able to get one if you won’t be able to pay off all of your debt in a reasonable amount of time.

Struggling To Pay Business Debts

Here are some other business debt guides if you are struggling with different types of debts: