iwoca, the European SME lender, is teaming up with Teya, an all-in-one financial services platform built for small businesses, to bring iwoca’s Flexi-Loan to thousands more business owners.
Teya customers can now apply for the Flexi-Loan from iwoca directly within the Teya app or web portal, unlocking sums ranging from £1,000 to £1million, with flexible terms from just one day up to 60 months. The application is 100 per cent paperless, with no early repayment fees, while approved funds typically land within minutes.
As demand for speedy, hassle-free finance accelerates, iwoca’s SME Expert Index reveals that 73 per cent of SME finance brokers say faster decisions are their clients’ top priority. iwoca’s digital lending at scale enables UK businesses to access working capital without the red tape.
“This partnership is another step in our journey to build truly useful financial services for small businesses,” said Siddhartha Ram, product director at Teya. “Whether it’s payments, accounts or funding – our aim is to give business owners the tools they need to thrive, with none of the complexity.”
The Flexi-Loan is available now to eligible Teya customers across the UK. This collaboration launches at a crucial moment: iwoca’s SME Expert Index also shows that 76 per cent of UK finance brokers predict that small and medium-sized businesses’ demand for finance will rise in the coming months. iwoca and Teya are rising to this challenge, embedding ultra-fast, flexible lending directly into everyday business finances – helping close the funding gap and empowering entrepreneurs across the nation.
Colin Goldstein, chief commercial officer at iwoca, also added: “Teya shares our belief that small businesses should have quick and uncomplicated access to the finance they need to grow. Working together, we can reach even more business owners and ensure that capital is available when and where it’s needed most.”
