DNA Payments adds iwoca loans to merchant portal

DNA Payments has integrated iwoca’s Flexi Loan product into its Merchant Portal and mobile app, allowing eligible merchants in the UK to apply for credit lines from £1,000 to £1 million. iwoca handles the application process digitally and typically delivers decisions within minutes.

Merchants can begin and complete an application without leaving the portal or app. iwoca manages underwriting and, when approved, provides funding that can range from small short-term amounts to larger facilities.

DNA Payments stated the feature will be available to eligible merchants that use its payment services across retail, hospitality and online commerce, and that the loan option appears alongside its existing payment, reconciliation and reporting tools.

iwoca’s SME Expert Index reports that 78% of finance brokers expect supply chain disruption to harm small business performance, 70% say their SME clients are worried about rising energy costs, and 54% identify rising running costs as the main concern.

Colin Neil, DNA Payments’ chief executive, commented that adding term loans expands funding choices for clients. Harry Cranfield, head of partnerships at iwoca, noted the arrangement places funding inside the tools businesses already use.

Both companies stated the integration seeks to simplify access to short-term and larger-scale finance by keeping application, underwriting and approval inside the merchant ecosystem.