Love Finance integrates iwoca API to enhance SME lending

Love Finance has integrated iwoca’s lending API into its platform, enabling automated loan decisioning in a move aimed at reducing waiting times for UK small businesses seeking finance.

The integration expands the existing broker partnership between the two firms and allows Love Finance to deliver real-time eligibility checks for applicants. Both companies said the development responds to a growing need for faster credit decisions in the SME lending market. According to iwoca’s latest SME Expert Index, 72% of brokers identify decision speed as a key factor when selecting a lender.

iwoca’s technology assesses applications instantly, giving SMEs quicker clarity on whether they qualify for financing. Love Finance, which has funded approximately £400 million in loans to more than 8,000 SMEs, said the addition of automated decisioning is intended to improve efficiency across its lending process. iwoca passed £1 billion in lending to SMEs earlier this year.

Alex O’Malley, chief commercial officer at Love Finance, said the partnership supports efforts to increase transparency and improve processing times for applicants.

“This partnership reinforces our position as a forward-thinking, agile lender delivering fast and efficient solutions to UK SMEs. Thanks to iwoca’s technology and partnership, we’re able to push our lending speed and transparency even further, making the business finance journey smoother, fairer, and more accessible than ever before.”

Colin Goldstein, iwoca’s UK chief commercial officer, said the integration is intended to help small firms access funding more quickly during periods of operational pressure.

“Every business owner faces moments that matter – and needs quick, reliable support. By partnering with Love Finance, we’re making it easier for SMEs to access fast, flexible funding exactly when they need it, empowering them to focus on growing their businesses with confidence.”

The development follows Love Finance securing £45 million in new funding to widen access to business lending. SMEs using the platform can now expect more rapid responses as both lenders continue to scale.