iwoca and Teya partner as SME finance demand to surge

UK small businesses are set to benefit from quicker access to finance following a new partnership between SME lender iwoca and payments provider Teya, as demand for funding is expected to rise sharply this year.

Under the agreement, Teya’s UK customers can now apply for iwoca’s Flexi-Loan directly through Teya’s digital portal, with approvals typically completed within minutes. The loan offers amounts from £1,000 up to £1 million, with terms ranging from one day to 60 months. Applications are fully paperless, with no early repayment fees, and funds can be transferred almost immediately after approval.

The launch comes at a time when speed and simplicity are emerging as key priorities for small firms seeking finance. According to iwoca’s latest SME Expert Index, 73% of UK finance brokers say faster loan decisions top the list of demands from their clients. Meanwhile, more than three-quarters (76%) of brokers predict that overall SME demand for finance will increase this year.

“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.”

“Working together, we can reach even more business owners and ensure that capital is available when and where it’s needed most.”