Products Insights Help About Log in Apply now 020 3778 0274 We use cookies to give you the best online experience. Got it! Business loans calculator Business loan calculator There are a lot of options when it comes to funding your business during coronavirus. With tax breaks, grants and loans all on offer it can be difficult to know which is a good fit for your business. If you think a loan could help your business recover, why not see if the Coronavirus Business Interruption Loan Scheme (CBILS) is right for you? We’re an accredited lender for the scheme and could lend you between £50,001 and £350,000 for up to five years, with nothing to pay for the first 12 months. I want to borrow £ for months Monthly payment £3,454 Total payment £124,330 Total interest £21,331 £11,305 £27,139 Year 1 £7,330 £34,113 Year 2 £2,696 £38,748 Year 3 Apply for £100,000 How does our CBILS loan calculator work? Put in how much you'd like to borrow Choose how long for (up to 5 years) See how much your monthly repayments will be Click ‘Apply’ when you’re done We've calculated your repayments using a rate of 10.2% APR – this only includes the interest you pay after the first year as the Government covers that. This means that the first year will always show £0. What does an iwoca business loan look like? borrow between £50,001 and £350,000 loan terms of up to five years (but we won’t charge you if you repay early) nothing to pay for the first 12 months 5.9% – 10.2% APR no need for a personal guarantee for loans up to £250,000 To be eligible your business must be based in the UK and: have been negatively affected by coronavirus be a limited company turnover less than £45m a year use the funds for business purposes, and to keep doing business in the UK make more than 50% of its turnover from trading (not investments) Apply for CBILS today If you’re interested in getting the Coronavirus Business Interruption Loan Scheme (CBILS), you can register your interest now. We’ll update you when you can apply. Apply Excellent Trustpilot • 4,757 reviews CBILS Accredited Lender Calculation of an iwoca business loan If you borrowed £75,000 for 3 years at 7.8% APR, you’d repay a total of £87,298 and £12,298 in interest. The first year’s interest is always paid by the Government, but in the second year you’d pay £8,949, and £3,350 in the third (as long as you stick to your repayment schedule and don’t make any overpayments). The interest decreases because as your loan term progresses, you pay off more of your principal and so accrue less interest. If at any point you don’t need the money anymore, you can always pay it back early with no additional fees. Why use our business loan calculator? Using our business loan calculator could provide you with more clarity on what borrowing from us looks like. It can give you a better idea of how much you could borrow, what interest we charge and what you might have to pay back. Using it could help provide you with more information on our CBILS loans, allow you to plan out different borrowing scenarios or even compare it with other products. Why iwoca could be the right choice for you If you choose to take a business loan with iwoca, you’ll be assigned your very own account manager. No more waiting on hold or uncertainty over your application, just straightforward, transparent communication. We have an ‘excellent’ rating on Trustpilot – 4.7 out of 5. Read our reviews for yourself and see if you can apply for a business loan with us today. Learn more About us Inside iwoca Careers Press and news Help Recovery Loan Scheme Support center Developers API Coronavirus update Resources Insights Finance explained Our partners Brokers Accountants Partners Products Flexi-Loan iwocaPay Terms & privacy Privacy policy Terms of use Use of cookies Complaint policy 020 3778 0274 contact@iwoca.co.uk Apply now iwoca Ltd, 3rd Floor 101 New Cavendish Street London, W1W 6XH iwoca Limited is authorised and regulated by the Financial Conduct Authority (reference number: 723378) in relation to regulated credit agreements and are a registered account information service provider (reference number: 791804). We're also registered with the Information Commissioners Office in relation to the processing of personal information (registration number: Z3007540). iwoca Limited is incorporated in England and Wales (company number: 07798925). Our registered office is 10 Queen Street Place, London, EC4R 1AG.