Swishfund review: working capital loans for UK limited companies

Swishfund is a fintech lender that started in the Netherlands in 2016 and has been lending to UK limited companies since 2018. It offers straightforward business loans for working capital, with a short online application and quick payouts. Smart Funding Solutions is an independent broker and is not part of Swishfund. Swishfund is one of the lenders on our panel, so we can compare its offer with other unsecured lenders before you decide.

01About Swishfund

Swishfund Ltd is the UK subsidiary of the Dutch company Swishfund B.V. The group describes itself as a customer friendly, transparent, no nonsense platform for small and medium sized businesses. Its UK team is based in Peterborough, and it lends across England, Wales and Scotland.

Across the group, Swishfund says it has financed more than £350 million through over 13,000 loans to more than 7,000 businesses, and it secured new funding in 2024 to support further lending. That track record across two countries gives it more history than many newer online lenders.

02What Swishfund funds

Swishfund's main product is a business loan positioned as a working capital bridge: funding for stock, a large order, a quiet season, hiring or a growth project. The headline features on its UK website are:

The cost depends on Swishfund's assessment of your company's risk profile, so we do not quote it here. Swishfund is open about its pricing structure on its own site, and you should compare the total amount repayable with other offers before committing. If you are thinking of clearing a loan early, our guide to paying off a business loan early explains how settlement usually works.

Swishfund's loans are best thought of as working capital loans, with the amount available depending on your profile. The exact structure will be confirmed in any offer.

03Who Swishfund suits (and who it may not)

• Good fit: limited companies registered at Companies House with at least one set of filed accounts.
• Good fit: smaller businesses, as the minimum annual turnover Swishfund asks for is £50,000.
• Good fit: owners who want a term of up to two years, rather than a few months, to keep repayments manageable.
• Less likely to fit: sole traders and partnerships, as Swishfund lends to limited companies.
• Less likely to fit: brand new companies that have not yet filed their first accounts.
• Less likely to fit: larger borrowing needs above £400,000 or longer terms beyond two years.

Swishfund's main product is a business loan positioned as a working capital bridge: funding for stock, a large order, a quiet season, hiring or a growth project.

04What Swishfund looks at

Swishfund publishes a short list of basic requirements:

• A limited company registered at UK Companies House.
• Annual turnover of at least £50,000.
• At least one set of filed annual accounts.
• An active business bank account.

Beyond those basics, lenders at this level typically review recent bank transactions, existing debt, the credit history of the company and its directors, and affordability. Most unsecured lenders also ask directors for a personal guarantee, so read our guide to personal guarantees before you sign.

05Pros and cons

Pros

• Accessible turnover threshold of £50,000 a year.
• Terms of up to 24 months give more breathing room than very short-term lenders.
• Quick application and payouts, especially under £75,000.
• No early settlement fee, according to Swishfund.
• Established group with lending history in two countries.

Cons

• Limited companies only.
• Needs at least one set of filed accounts, which rules out the newest companies.
• Maximum loan of £400,000 and maximum term of two years.
• Pricing is risk based, so weaker profiles will pay more.

Whichever lender you choose, compare the total amount repayable rather than the monthly figure alone, and check whether a personal guarantee forms part of the offer.

06Applying through a broker vs going direct

Swishfund's application is quick, but quick is not the same as best value. Unsecured lenders differ in how they price risk, how long they lend for and what they ask for in guarantees. A comparison shows whether Swishfund's offer is the strongest available for your profile, or whether a lender with a longer term, a higher limit or lower total cost suits you better.

We search the market for you, present your company's figures to the lenders most likely to approve, and manage one application. It is free to enquire; any broker fee is disclosed separately before you proceed. Try our Instant Quotes tool to compare lenders in minutes.

07Alternatives to Swishfund

• Fleximize is worth comparing if you want a longer term or more flexibility on repayments.
• Sigma Lending offers unsecured loans to more established limited companies and is worth a side by side quote.
• iwoca may suit businesses that would prefer a revolving credit line to a fixed loan.

For Swishfund's own details, see swishfund.co.uk. Any firm's details can be checked on the FCA Register.