We started in 2012, when we noticed a problem: on average, it was taking eight weeks (and a lot of paperwork) for small businesses to apply for a loan. Worse still, more often than not, that process was ending in a ‘no’.
We knew that bakeries, building firms, salons, and solicitors deserved better. They deserve to be able to grow – hire more hands, invest in stock, market themselves – without all the hold music and absurdly rigid criteria.
We’ve now been around for a decade, and in that time, we’ve:
- grown to a team of 290 iwocans
- worked with over 50,000 small businesses across the UK and Germany
- redesigned the whole business loan process from start to finish – our record is three minutes, 26 seconds.
It’s a good start, but it’s just the beginning. Our mission is help one million businesses who need us, so we still have a long way to go.
Here’s what we’ve learned about lending along the way
- Technology is the way to change this space
From automated decisions to API integrations, tech has the potential to create the changes small businesses have been waiting for – so we can’t stop innovating.
- Embedded finance is the future
More and more, we’re reaching customers by embedding our loans within the apps and systems they use everyday. Our partners are people like neobanks, online marketplaces and accountancy software companies.
- Payments and credit are converging
Lots of small businesses struggle with cash flow; often getting invoices paid from their customers months after paying their own bills. Loans can help them pay these bills, but we also want to tackle the problem at its root by improving payment terms.
- New products are always possible
We’re working to create new loans of all shapes and sizes, and we’ve recently launched iwocaPay to help with these cash flow conundrums.
We work hard to make iwoca a place where everyone feels welcome - we want everyone to confidently be themselves. For us, diversity isn't an optional add-on. It's the thing that makes us great.
The Collections team works with customers who have missed repayments on their iwoca loan. While their goal is to minimise iwoca’s monthly loss rate, the team is also committed to positive customer outcomes, facilitating the customer getting back on track where possible.
We are looking for an Apprentice to join our Collections & Legal team in Leeds on a fixed term basis via the Digital Business Accelerator Programme. The Collections & Legal Support Agent will support the effective and smooth running of the Collections and Legal function through undertaking tasks to aid the other teams within the department.
- Work closely with team members in Collections and Legal to ensure clerical order across the department, facilitating positive customer outcomes
- Process daily payments and correspondence accurately and efficiently
- Handle referrals to third parties such as Solicitors and Collection Agencies
- Update systems in order to keep an accurate record of activities, observations and outcomes within the Collections and Legal processes
- Ensure compliance with all appropriate legislation regulatory body guidelines and adhere to our company policies and procedures
- Uphold iwoca’s company reputation at all times
You will need:
- Great organisational skills and time management, proficient in multitasking
- Ability to think on your feet while following C&L processes and policies.
- Excellent communication skills and teamwork - you’ll be liaising with colleagues across the business and external suppliers
- Ability to learn quickly and develop both new and existing skills
- Strong attention to detail with high levels of accuracy
- Confident to raise issues that may need addressing or suggest improvements to existing processes.
- Entrepreneurial spirit with a real enthusiasm for helping SMEs
- Previous administrative experience would be great but isn’t essential
- Be smart, humble and motivated
What’s life like as an iwocan?
We all enjoy:
- Bright, modern office spaces in Leeds (and London). We have always supported flexible working however during the current pandemic the majority of iwocans are working from home. We have taken every precaution to keep our offices COVID-19 secure for those that need to use them.
- A calendar of ‘remote friendly’ events each week including Bingo, Comedy Nights, Escape Room challenges….
- Two company retreats a year (in places like the French Alps or Spanish seaside)
- Pool, ping pong, foosball tables and tournaments
- Virtual Yoga classes every Tuesday and Thursday morning
- An ever-growing number of clubs including climbing, chess, football and boxing
- Plenty of drinks and snacks in our office kitchen
Just for you:
- Medical insurance from Vitality, including discounted gym membership
- We take your well being incredibly seriously, so you’ll have instant access to emotional and mental health support services via our partner Spill
- Share options
- Enhanced maternity and shared parental leave
- A workplace nursery tax benefit scheme. Save £££ on your nursery costs
- 25 days holiday per year and an extra day off on your birthday
- All the equipment you need to set up your home working space up
- Paid volunteering time for you to support your chosen charity
- Extra leave if you want to travel or study
- Special celebrations for anniversaries and long service including sabbatical
- Flexible working arrangements
- Cycle-to-work scheme
And to make sure we all keep learning, we offer:
- L&D budget including a book budget to encourage you to keep learning
- Company-wide talks with internal and external speakers
- A calendar of meetups we host at our office
- Access to learning platforms like Treehouse if you want to learn to code.