Why use Swoop Funding?

The two main benefits of using Swoop Funding are the time-saving element and the ability for experts to access all of the different funding options in one place.

With any business, the chances are you'll be pretty busy and even though business funding is crucial for your business if there is a way to reduce the time spent in this area whilst getting the best result for your business it can be seen as a win-win situation.

Swoop Funding's main business is about helping businesses get the most suitable and best value funding, they aim to take the hassle away from you as a business owner with their platform allowing you to search for funding options across different types of funding from loans to equity to grants. They operate in the UK, Ireland, Australia, North America and most of Europe.

Overall the majority of Swoop funding reviews give a positive view of the platform as an option for your business in the UK or US to use to source funding.

About Swoop Funding

Swoop is registered under the company name Swoop Finance Ltd and operate on the website SwoopFunding.com, the company namely refers to itself as Swoop and so you'll see us mention it as this throughout this Swoop review.

As a critical part of your business, you want to ensure any company that you use to help with the funding process can be trusted. Swoop were founded in 2018 by Andrea Reynolds and have received funding of over $16 million, they have over 100,000 customers across the world and have completed funding worth over £425 million for their customers.

They offer a range of funding options for you to look into and compare for your business, these include:

• Business loans
• Equity based finance
• Funding via grants
• Funding via commercial mortgages
• Startup loans
• R&D tax credits
• and much more

How does Swoop work?

Swoop is a platform that helps you compare and see your options as a UK business when it comes to funding options, essentially it is a broker that aims to find you the most suitable products and services for your business. In exchange for this service, they make money by receiving commissions or fees from the providers if you sign up.

How much does it cost to use Swoop Funding?

As a business owner you can use Swoop for free, you can sign up at no cost, compare and find the right funding and it will not cost you anything.

How does Swoop make money?

As you'd expect Swoop is a company that makes money, although they don't charge you a fee to use the platform they do receive commission or a free from the majority of companies/providers on the platform.

This will typically be either a percentage of the product or service you decide to go for or a fixed fee.

This commission or fee does not affect the price that you pay for the funding option or service that you choose to go with.

What funding options do Swoop help you find?

Swoop looks at three main areas of funding for your business, these are business loans, equity financing and business grants. Additionally, they can help you save on business expenses across your business from business bank accounts to business energy bills, credit cards and much more.

Swoop Funding Business loans

If you're looking for business loans for your company then Swoop Funding can help you to find the right loan to fit your business, they have access to a wide range of business loan providers from all of the big mainstream banks as well as alternate lenders, giving you a wide range of the market to look and compare your options with.

Swoop funding looks at different types of business loans including the following:

• Small business loans - giving you a flexible, low-cost way to finance your business
• Recovery loan scheme - Finance for UK businesses looking to invest and grow.
• Startup loans - loans suitable for businesses that are starting up or new
• Working capital loans - loans that are taken to finance your business everyday operation
• VAT loans - a loan to help pay your quarterly VAT bill to HMRC
• Unsecured business loans - borrowing without the need to secure the loan against a business asset
• Secured business loans - loans that are secured against business assets
• Ecommerce financing - equity free capital investments
• SaaS financing - for businesses offering Software as a Subscription
• Franchise financing - loans for both existing and new franchisees
• Revolving credit facilities - a rolling line of credit for your business
• Management buyout finance - finance to help buy out part or all of your companies management team
• Supply chain finance - unsecured cash advances to suppliers in your supply chain
• Asset finance - finance options to help acquire business assets
• Invoice finance - receive funds from due invoices early
• and more

Swoop Equity Financing

If your business is considering equity financing then Swoop can help by helping connect you with all of the options available to you in terms of business angels, investors from venture capital firms as well as crowdfunding as well as options available via government initiatives.

Finding business grants with Swoop Funding

If you've ever started looking into business grants you'll know that it can be a confusing, long-winded and hard task to find what grants are available, if they're suitable for your business and if you're eligible to even apply for them.

This is where Swoop come in to help cut out the hassle of this, they make finding relevant business grants that your business should be able to apply for a much easier and quicker task.

This includes grants such as:

• Innovation grants
• R&D tax credits
• Smart grants

Should you use Swoop?

There are many Swoop funding reviews available for you to check from customers of the service, if you'd like to read these you can see all of them on Trustpilot , overall the company has a majority of 5 star reviews with people mentioning how helpful the Swoop team have been to their business, making the funding process much easier than trying to do it all independently.

The website is well-designed and the whole process of submitting all the information you need is smooth and efficient.

What other reviews say?

Other Swoop reviews mention the time-saving part of the service as one of the key factors that firstly made them sign up to Swoop but also that was the reason for giving a positive review.

It's great to see that the number of customers who leave a Swoop review that are visible on Trustpilot rising over time which does give a positive picture of Swoop as a company, of course, we always advise to check the reviews at the time you are signing up to use the service to check this hasn't changed.

Many reviews mention that the time saving is one of the most important features for them, they mention that they can quickly fill in one or two forms on the Swoop website and then get an overview of the options available to them, rather than having to look at all the government websites for grants, reaching out to multiple different loan companies or speaking to different investors to try and raise money without knowing if you will get approved, be eligible or it be at a rate that you're comfortable with. Swoop takes these issues away essentially letting you compare the market for your funding options.

How much of the market do Swoop cover?

They currently work with a wide range of the market from the big mainstream lenders, banks and companies to smaller more alternate ones, they currently compare over 1,000 products but be aware that you won't get a complete market overview as some companies and products do not offer them to comparison/broker type businesses like this.

What other services do Swoop offer?

With funding being the main focus of Swoops business, no Swoop funding review would be complete without looking at the other services that they offer, after all these services may be the reason you're looking to use Swoop.

Business Energy Comparison

Swoop help see if you could save money on your business's energy bills, they do this by allowing you to upload a copy of your latest energy bill, they then take the data from this and scan the market to see if there is a better deal out there.

The Swoop team will search the business energy market and see if there is a tariff that would save you money, if so they will tell you about it. They'll also check that you aren't overpaying on VAT on your business energy bills.

Swoop business bank comparison

Another service that Swoop offer is the ability to compare business banks and see which may be more suitable for you.

This service is great if you're looking to see what new options are out there or feel like your current business bank is serving you like they should be or perhaps you're seeing higher charges than you expect and want to see your options.

Our thoughts

Swoop funding is a great option for business owners who want a quick and effective way to see all of the funding options that are available to their business.

The platform is easy to use and well-designed, the process has been designed to make it as easy and straightforward as possible meaning you as a business owner can focus on your business.

It certainly is an option we would recommend to UK businesses that are looking to weigh up their options when it comes to either business loans,  equity financing or business grants.

The additional services that they offer such as bank account, insurance and energy don't appear quite as in-depth as other areas and we feel there are better options from companies who's sole business proposition is business energy comparison for example.

Overall we give Swoop a 4.5 star rating making it a great choice for business owners based in the UK.