(Entertainment-NewsWire.com, October 14, 2013 ) London, UK -- iwoca, the UK's leading working capital and small business loans company, has a new competitor, PayPal. With the payment processor's foray into the e-commerce lending business it shows that the industry is on the rise. Fuelling the growth of e-commerce lending and displaying that online business is at its peak and growing, iwoca, the business funding company has added yet more integrated platforms into the mix, such as eBay, Magento, and Shopify and plan to introduce many more.
Small business lending is still a new type of loan in the finance industry, but iwoca and other UK firms are pioneering it and with giants like PayPal getting in the action, it's obviously an expanding market.
Christoph Rieche, the co-founder of iwoca, said, "it's an exciting time for iwoca and other working capital loans companies right now. We are helping out eBay, Amazon and other e-commerce traders that need the cash flow to succeed and grow. We take a small payment in interest, to help our company grow, which lets us help other companies move forward."
Many UK banks have been in the news recently with their own troubles, and having other options for small business funding is perfect for online sellers. The 'old' route of borrowing money for business is too stringent and too difficult to get a decision from; and iwoca's fresh, new way of business funding is much more appealing. Working capital loans are usually only applied for if there is a genuine business opportunity that requires a fast business loan and a quick cash injection, before the moment disappears. With loans in just 15 minutes, financial institutions of the past are missing out.
Small businesses continue to pop up every day and cash flow is always a problem. Having the backing of a well-run organisation such as iwoca means that self-employed people or small online traders can get the funding they need and ultimately it helps make the UK's entrepreneurs get the success they crave.
iwoca, is the UK's leading working capital loans company that deals with online, e-commerce sellers such as those on Amazon or eBay, and take a unique view on small business loans in general.
