4 UK specialty finance alternatives to Aldermore, compared on product type, ticket band, rate, decision time and eligibility.
Aldermore vs the 4 alternatives
| Compared on | Aldermore | Time Finance | Allica Bank | OakNorth | iwoca |
|---|---|---|---|---|---|
| Product | Asset finance, invoice finance, commercial mortgages | Asset finance, invoice finance, vehicle finance | SME term loan, asset finance + commercial mortgage | SME term loan + bridging | Flexi-loan / line of credit |
| Ticket | Commercial real estate loans of £3m to £100m (its own figures); not published for asset or invoice finance | Not published overall; secured loans of £50k to £500k (its own figures) | £25,001 to £150,000 (business loans); £25k to £2.5m (asset finance); £150k to £15m (commercial mortgages) (its own figures) | £1m to tens of millions (its own figure) | £1k to £1m (its own figure) |
| Rate | Quoted per deal (not published) | Bespoke | Business loans 9.90% to 13.75% interest; other products quoted per deal | Bespoke | From 1.5% per 30 days |
| Decision | Not published | Not published | Decision by the next working day (its own aim) | Funds can be with you in a matter of weeks (its own words) | Many customers get an instant decision; larger loans within 24 hours (its own figures) |
| Soft search | No | Yes | No | No | Yes |
| FundBiz editorial tier | Strong | Strong | Top tier | Strong | Top tier |
Sources: each lender's own published product pages, as recorded in our lender index: Aldermore · Time Finance · Allica Bank · OakNorth · iwoca. Figures change; confirm with the lender before you rely on one.
Time Finance
Not published · BespokeMid-ticket alternative finance specialist that suits businesses wanting asset finance, invoice finance and vehicle finance combined under one lender.
Allica Bank
Decision by the next working day (its own aim) · Business loans 9.90% to 13.75% interest; other products quoted per dealChallenger bank for established businesses: business loans of £25,001 to £150,000, asset finance of £25k to £2.5m and commercial mortgages of £150k to £15m (Allica's own ranges).
OakNorth
Funds can be with you in a matter of weeks (its own words) · BespokeTop-end lender suited to £1m+ tickets (OakNorth lends from £1 million) where the business has the financials to support a bespoke deal.
iwoca
Many customers get an instant decision; larger loans within 24 hours (its own figures) · From 1.5% per 30 daysMainstream lender for flexi working capital.
Frequently asked questions
What are the main alternatives to Aldermore?
The closest UK specialty finance alternatives are Time Finance, Allica Bank, OakNorth and iwoca. The table above sets them side by side with Aldermore.
How does Aldermore compare on ticket size and rate?
Aldermore offers asset finance, invoice finance, commercial mortgages, with tickets of Commercial real estate loans of £3m to £100m (its own figures); not published for asset or invoice finance. Its pricing: quoted per deal (not published).
How quickly does Aldermore make a decision?
Decision time for Aldermore: Not published. Decision times for the alternatives are listed in the comparison table; faster isn't always cheaper, so weigh speed against rate and ticket fit.
Does Aldermore do a soft-search quote?
Aldermore doesn't offer a soft-search quote at the eligibility stage. Among the alternatives, Time Finance and iwoca offer a soft-search quote.
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Founder & Managing Director, Muswell Rose, FundBiz
Adam is the founder and managing director of Muswell Rose and a founder of Best Business Loans Ltd, the company behind FundBiz. His background runs through commercial finance, mortgages and fintech, including as managing director of an invoice finance business. He oversees FundBiz's guides and lender reviews.
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