iwoca aims to improve access to credit for the self-employed and small businesses. Since its inception the company has enabled over 70,000 SMEs to access credit. The new solution gives online retailers direct access to short-term working capital loans from EUR 2500 to 1 million on the eBay marketplace.
According to data from iwoca, in Germany, the need for financing offers is above average among retail companies in a sector comparison. Almost every third wholesaler and retailer (31%) stated that would have been able to run their business much better in the 12 months before the survey had they had faster and easier access to loans.
Across all sectors, only 2 out of 10 respondents stated this. Over a third of merchants (36%) also believe it is becoming increasingly difficult to obtain credit from a traditional bank. The average for all sectors is only 19%. Compared to other sectors, a higher proportion of small business owners in wholesale and retail also agree that politicians should work to improve financing conditions for small businesses and the self-employed (36% versus 24% on average).
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