365 Finance vs iwoca: Which is Better?

Side-by-Side Comparison

Score: iwoca wins 5/6 categories

Real Cost Difference

£30,000 Advance:

• iwoca (1.12x): £33,600 total = £3,600 cost
• 365 Finance (1.25x): £37,500 total = £7,500 cost
• Savings with iwoca: £3,900

£50,000 Advance:

• iwoca (1.15x): £57,500 total = £7,500 cost
• 365 Finance (1.28x): £64,000 total = £14,000 cost
• Savings with iwoca: £6,500

£100,000 Advance:

• iwoca (1.20x): £120,000 total = £20,000 cost
• 365 Finance (1.32x): £132,000 total = £32,000 cost
• Savings with iwoca: £12,000

When to Choose 365 Finance Over iwoca

Despite iwoca's better rates, choose 365 Finance if:

• You're in hospitality: Restaurant, pub, hotel, cafe - they understand your business
• Need same-day: Genuine emergency where 24hr wait costs you more than rate difference
• Seasonal business: 365 Finance better understands hospitality seasonal patterns
• Value account manager: 365's hospitality-focused managers vs iwoca's generalist approach

When to Choose iwoca Over 365 Finance

Choose iwoca if:

• You want best rates: Save £3k-£12k depending on advance size
• Revenue is £3k-£10k/month: 365 Finance won't accept you
• You're not hospitality: Retail, services, or other - iwoca is better generalist
• You value Trustpilot rating: 4.7/5 (iwoca) vs 4.5/5 (365)
• Want guaranteed no PG: iwoca explicitly confirms under £50k

Final Recommendation

For most businesses: iwoca is better value. The £3,000-£12,000 savings on typical advances, combined with lower minimum revenue and better customer rating, make iwoca the smart choice for 70-80% of businesses.

For hospitality businesses needing emergency funding: 365 Finance. Same-day approval and industry specialization justify the higher rates if you genuinely need money today.

Best approach: Apply to both, compare offers, choose best rate. Don't assume - verify which offers you better terms for YOUR specific business.