iwoca link to Magento with £50 for first 20 retailers

iwoca featiwoca have announced an integration with Magento, this enables online retailers with a Magento store to use there website turnover in conjunction with marketplaces when applying for a loan.

To celebrate this milestone, iwoca are giving £50 to the first 20 Magento sellers who link their Magento accounts to iwoca.

iwoca now enable sellers to connect multiple ecommerce platforms including eBay, Amazon, Linnworks and now Magento to iwoca, allowing iwoca to instantly assess a seller’s performance and offer loans from £500 to £50,000 to help small businesses grow.

I’m immensely encouraged by the activity of the private loans companies like iwoca. The banks still aren’t lending to small businesses but businesses still need finance. Whilst it’s a shame that traditional sources of finance have dried up, at least for the foreseeable future there are alternatives to keep greasing the wheels of ecommerce.