Lender alternatives
Alternatives to Allica Bank
4 UK specialty finance alternatives to Allica Bank, compared on product type, ticket band, rate, decision time and eligibility.
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Allica Bank vs the 4 alternatives
| Compared on | Allica Bank | OakNorth | Aldermore | Funding Circle | Time Finance |
|---|---|---|---|---|---|
| Product | SME term loan, asset finance + commercial mortgage | SME term loan + bridging | Asset finance, invoice finance, commercial mortgages | Term loan | Asset finance, invoice finance, vehicle finance |
| Ticket | £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) | Commercial real estate loans of £3m to £100m (its own figures); not published for asset or invoice finance | £10k to £750k (its own figure) | Not published overall; secured loans of £50k to £500k (its own figures) |
| Rate | Business loans 9.90% to 13.75% interest; other products quoted per deal | Bespoke | Quoted per deal (not published) | From 6.9% per year | Bespoke |
| Decision | Decision by the next working day (its own aim) | Funds can be with you in a matter of weeks (its own words) | Not published | Decision in as little as 5 minutes, funds typically within 48 hours (its own figures) | Not published |
| Soft search | No | No | No | Yes | Yes |
| FundBiz editorial tier | Top tier | Strong | Strong | Top tier | Strong |
Sources: each lender's own published product pages, as recorded in our lender index: Allica Bank · OakNorth · Aldermore · Funding Circle · Time Finance. Figures change; confirm with the lender before you rely on one.
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.
Aldermore
Not published · Quoted per deal (not published)Challenger bank suited to asset finance, invoice finance and commercial mortgages where the borrower has time for proper underwriting and wants a real bank on the other side.
Funding Circle
Decision in as little as 5 minutes, funds typically within 48 hours (its own figures) · From 6.9% per yearMainstream lender for term loans between £10k and £750k. It suits established Ltd companies with a trading record and clean credit that want a fixed-repayment term loan rather than a flexi or MCA.
Time Finance
Not published · BespokeMid-ticket alternative finance specialist that suits businesses wanting asset finance, invoice finance and vehicle finance combined under one lender.
Frequently asked questions
What are the main alternatives to Allica Bank?
The closest UK specialty finance alternatives are OakNorth, Aldermore, Funding Circle and Time Finance. The table above sets them side by side with Allica Bank.
How does Allica Bank compare on ticket size and rate?
Allica Bank offers SME term loan, asset finance + commercial mortgage, with tickets of £25,001 to £150,000 (business loans); £25k to £2.5m (asset finance); £150k to £15m (commercial mortgages) (its own figures). Its pricing: business loans 9.90% to 13.75% interest; other products quoted per deal.
How quickly does Allica Bank make a decision?
Decision time for Allica Bank: Decision by the next working day (its own aim). 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 Allica Bank do a soft-search quote?
Allica Bank doesn't offer a soft-search quote at the eligibility stage. Among the alternatives, Funding Circle and Time Finance 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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