365 Finance vs iwoca: Which is Better?
Complete comparison: iwoca offers better rates (1.08x vs 1.25x) and lower minimum (£3k vs £10k). 365 Finance offers same-day approval and hospitality expertise. Which saves you more for your growth?
Quick Verdict
iwoca wins for most businesses - better rates (saves £3k-£12k on typical advances), lower minimum (£3k vs £10k), and higher customer rating (4.7 vs 4.5).
365 Finance wins for hospitality - if you run a restaurant/pub/hotel AND need same-day approval, their industry expertise justifies the slightly higher rates.
Side-by-Side Comparison
| Feature | iwoca | 365 Finance | Winner |
|---|---|---|---|
| Factor Rate | 1.08-1.25x ✓ | 1.25-1.40x | iwoca |
| Min Revenue | £3,000/mo ✓ | £10,000/mo | iwoca |
| Approval Speed | 24 hours | Same day ✓ | 365 |
| Trustpilot | 4.7/5 ✓ | 4.5/5 | iwoca |
| Specialization | General SME | Hospitality ✓ | 365 (niche) |
| Personal Guarantee | Not under £50k ✓ | Required £50k+ | iwoca |
Score: iwoca wins 5/6 categories
Real Cost Difference
£30,000 Advance
iwoca (1.12x)
Total: £33,600
Cost: £3,600
365 Finance (1.25x)
Total: £37,500
Cost: £7,500
Savings with iwoca
£3,900
£50,000 Advance
iwoca (1.15x)
Total: £57,500
Cost: £7,500
365 Finance (1.28x)
Total: £64,000
Cost: £14,000
Savings with iwoca
£6,500
£100,000 Advance
iwoca (1.20x)
Total: £120,000
Cost: £20,000
365 Finance (1.32x)
Total: £132,000
Cost: £32,000
Savings with iwoca
£12,000
When to Choose 365 Finance
- 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
- 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 seeking growth funding.
For hospitality businesses needing emergency funding: 365 Finance
Same-day approval and industry specialization justify the higher rates if you genuinely need money today for time-critical growth opportunities.
Best approach: Apply to both
Compare offers, choose best rate. Don't assume - verify which offers you better terms for YOUR specific business growth plans.
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Compare All ProvidersFrequently Asked Questions
Which is cheaper: 365 Finance or iwoca?+
iwoca is cheaper. Factor rates start from 1.08x vs 365 Finance's 1.25x minimum. On a £50k advance, iwoca typically costs £7,500 vs 365 Finance's £14,000 - saving £6,500.
When should I choose 365 Finance over iwoca?+
Choose 365 Finance if you're in hospitality (restaurant/pub/hotel) and need same-day approval. Their industry expertise and faster approval may justify the higher rates for genuine emergencies.
Can I apply to both 365 Finance and iwoca?+
Yes! Applying to both takes just 10 minutes and lets you compare offers side-by-side. Choose the best rate for your business growth. This is the smart approach.