Alternatives to Funding Circle

4 UK specialty finance alternatives to Funding Circle, compared on product type, ticket band, rate, decision time and eligibility.

Funding Circle vs the 4 alternatives

Funding Circle compared with 4 alternatives, last reviewed 2026-05-10
	Funding Circle	iwoca	Allica Bank	OakNorth	Aldermore
Product	Term loan	Flexi-loan / line of credit	SME term loan + commercial mortgage	SME term loan + bridging	Asset finance, invoice finance, commercial mortgages
Ticket	£10k to £500k	£1k to £500k	£150k to £5m	£500k to £50m+	£25k to £5m
Rate	6.9% to 26.9% APR	From 2% per month	From 7.99% APR	Bespoke	From 7.5% APR equivalent
Decision	1 to 3 business days	Same day to 24 hours	5 to 10 business days	7 to 14 business days	5 to 10 business days
Soft search	Yes	Yes	No	No	No
Rating	4.3	4.4	4.4	4.2	4.1

iwoca

Same day to 24 hours · From 2% per month

Panel anchor for flexi working capital. We route applicants here when the cash need is draw-as-you-go rather than a single lump sum, when trading time sits between 12 and 24 months, or when the file is too thin for Fundi

Best for: Working capital and cash-flow-gap files needing flexible draw-down, Newer Ltd companies trading 12 to 24 months.

Allica Bank

5 to 10 business days · From 7.99% APR

Panel challenger bank we route to for £150k to £5m term-loan and commercial mortgage applicants. We send established Ltd companies here when the deal is in the band the high street has abandoned and the applicant wants r

Best for: Established Ltd companies with £250k to £5m tickets, Asset-backed and commercial-mortgage applicants wanting real bank underwriting.

OakNorth

7 to 14 business days · Bespoke

Panel top-end lender we route to for £500k+ tickets where the file has the financials to support a bespoke deal. We send established Ltd companies here when the applicant has a clear acquisition, growth or commercial-pro

Best for: £500k+ tickets backed by clear acquisition, growth or property story, Established Ltds with strong financials and time for a proper underwrite.

Aldermore

5 to 10 business days · From 7.5% APR equivalent

Panel challenger bank we route to for asset finance, invoice finance and commercial mortgage tickets between £25k and £5m where the applicant has the time for proper underwriting and wants a real bank on the other side.

Best for: Established Ltds wanting asset finance or invoice finance with a real bank, Commercial property tickets £150k+ where the applicant has 2 weeks for underwriting.

Frequently asked questions

What are the main alternatives to Funding Circle?

The closest UK specialty finance alternatives are iwoca, Allica Bank, OakNorth and Aldermore. Each is compared above on product type, ticket band, typical rate, decision time and eligibility so you can match a lender to your deal size and trading profile.

How does Funding Circle compare on ticket size and rate?

Funding Circle offers term loan from £10k to £500k at a typical 6.9% to 26.9% APR. The alternatives in the table span different ticket bands and rate ranges, so the right fit depends on how much you need and your trading profile.

How quickly does Funding Circle make a decision?

Funding Circle typically reaches a decision in 1 to 3 business days. Decision times for the alternatives are listed in the comparison table; faster is not always cheaper, so weigh speed against rate and ticket fit.

Does Funding Circle do a soft-search quote?

Funding Circle runs a soft-search quote, so checking eligibility leaves no mark on your credit file. Among the alternatives, iwoca offer a soft-search quote.

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Last reviewed: 2026-05-10. Editorial by Oliver Mackman.