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ewoca - FAQs
For whom is imoca? imoca is the fast and versatile corporate financing resource for all UK companies. Companies use lwoca for all kinds of uses, from filling short-term cash flow gap to investment in share options. The start-up operation is capped at a £10,000 credit line. Which dates are you looking at?
Our company is licensed for £1,000 to £150,000. As a rule, your credit line is approximately one months turnover. If your company is growing, we will gladly raise this threshold. May I top up my credit? If my first credit has expired, can I take out a new one? At the end of your term, we will extend your quote unless your conditions change.
As your company grows, we may even be able to raise your credit line or lower your interest rates. Call us on 020 3397 3375 if you would like us to take another look at your company after a few month and we will see what we can do.
Is the credit from imoca secure? Nope. imoca provides uncollateralised credit without requiring an assets. Interests accrue every single working day, which means you only need to make payments for every single trading day on which you have the money. E.g. a firm with a 3% per month instalment would only be paying 1 per cent per annum for every 1,000 pounds it had overdue.
You are not bound to your credit even then. Mandatory redemption must be either once a week or once a month, according to the redemption plan you accept when applying for funding. If, however, you wish to keep the money for less than the full 12-month period, you may opt for a free early refund.
Are you going to do a credit check on my application? In order to support us in responsible lending, we carry out credit and identification verifications during the application process. Full credit searching is only performed if you decide to take out a credit. Never see your password and handle all your information with the greatest caution.