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, where you can confidently be yourself. We understand that diversity isn't an optional add-on, it's the core ingredient of what makes us great.
We are recruiting a mid-level Corporate & Commercial Lawyer to work with and report directly to the Head of Legal.Requirements
Day to day you will
The role covers a broad mix of legal issues assisting on all aspects of corporate and commercial issues for the constantly evolving UK and European business of iwoca. The responsibilities include:
- reviewing, negotiating and drafting contracts, including general commercial contracts, customer contracts, partnership and broker contracts and certain financing documents.
- advising on the structuring and drafting of legal documentation related to new product launches.
- dealing with corporate governance and regulatory matters (including EU law)
- issue-spotting and assisting with other legal issues that may arise in the business, including employment, IP, data and other legal risks which may arise from time to time
- assisting with corporate governance and company secretarial support where necessary (including assisting with the company's ESOP)
There will be opportunities to work with the Head of Legal to develop the legal function and to build and improve structures, processes and systems which is an exciting and rare opportunity within any legal function.Requirements
The successful candidate will ideally :
- have a solid foundation in UK corporate and commercial law
- be a mid level lawyer (2 - 4 years PQE) experienced working in a leading law firm or equivalent in-house experience
- be familiar with complex legal group structures and debt structuring, although experience in structuring itself is not necessary
- demonstrate good technical expertise and communication skills
- have a broad understanding of UK and European law in relation to financial services businesses
- have good project management skills
- work autonomously as well as effectively with colleagues in various other areas of the company
- be motivated, energetic, organised, articulate, willing to take responsibility and capable of picking up a wide variety of matters
- be confident to spot potential legal issues and raise them with relevant stakeholders in the business
We work hard to make iwoca a place where everyone feels welcome, where you can confidently be yourself. We understand that diversity isn't an optional add-on, it's the core ingredient of what makes us great.Benefits
What's life like as an iwocan?
We all enjoy:
- Bright, modern office spaces in Fitzrovia & Leeds. 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.