# iwoca, Cubefunder, Capify or Credicorp: an honest comparison

*Source: https://credicorp.co.uk/support/comparing-iwoca-cubefunder-capify-credicorp/*

There is no single “best” business lender, only the one that fits a particular need. A director comparing iwoca, Cubefunder, Capify and us is really comparing four different models: how much you can borrow, how long for, whether a human or an algorithm decides, and what the money costs. This article describes those differences in general terms. We will not invent another lender’s rates or fees, and we will be honest about where we are not the right answer.

## What each model tends to suit

The wider market is varied. Some lenders specialise in larger facilities and longer terms, often with a flexible drawdown line and a credit decision that blends data with human review. Others build their proposition around merchant cash advances, where repayments flex with your card takings. Others again focus on speed and a largely automated decision for smaller, shorter amounts. Each of those has a place. If you need tens of thousands of pounds over a year or more, you are not really in our part of the market at all.

We are deliberately small-ticket and short-term. Our live product is a short-term Business Bridging Loan of **£50 to £500 over 14 to 84 days**, with weekly or fortnightly repayments. That is a narrow, specific tool: a small gap, bridged quickly, then closed. If you want to compare what we actually offer today, the current amounts, terms and costs are set out on [our business loans page](/business-loans/).

## Speed, decisions and who you are dealing with

Speed matters, but it is not the whole story. We typically approve within an hour and fund the same business day where everything checks out. We still credit-check your company through business credit reference agencies, and we run an identity check on the director. A faster “yes” is not always a better “yes” — the right question is whether the borrowing genuinely solves the problem, or just moves it a few weeks down the road.

Who you are lending to also differs. We lend to UK limited companies and LLPs (bodies corporate), for business purposes, to the company rather than to you personally. We do not take a personal guarantee. Other lenders structure things their own way, and some do ask for guarantees or security; that is for them to set out in their own documents, so always read them.

## Cost and transparency

Here is the honest part: a short-term loan is an expensive way to borrow when you express the cost as an annual figure, because the fixed cost of arranging and servicing a small sum is spread over only a few weeks. We do not pretend otherwise. What we do is show the cost plainly before you commit — the amount borrowed, the term, the total amount payable, the total cost of credit, a simple annualised rate and the full repayment schedule, all on your Key Information Sheet (KIS) and in your Business Loan Agreement. We do not quote a consumer APR. We also charge no early repayment fee, so settling sooner saves you money.

One important point of difference: lending to a company is outside FCA consumer-credit regulation, because a company is not an individual under Article 60B FSMA RAO 2001. That means our loan is not covered by the Financial Ombudsman Service, the FSCS or the BBRS; after our internal complaints process, the final step is the courts. A different lender’s regulatory position may differ — check theirs, do not assume ours applies to them.

## How to choose well

Start from the need, not the brand. How much, for how long, and what happens to your cash flow while you repay? If the honest answer is that borrowing would make a strain worse, the better move may be no loan at all. We set out cheaper or steadier routes in our guide to [alternatives to short-term lending](/support/alternatives-to-short-term-lending/), and we would rather you used one of those than take finance that does not fit. If a small, short, transparent bridge genuinely is what you need, compare the real figures and decide with your eyes open.

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Credicorp Limited — UK lender to limited companies (Company No. 16093826). credicorp.co.uk