Lender alternatives
Alternatives to OakNorth
4 UK specialty finance alternatives to OakNorth, compared on product type, ticket band, rate, decision time and eligibility.
Check your optionsFree · 2 mins
OakNorth vs the 4 alternatives
| Compared on | OakNorth | Allica Bank | Aldermore | Funding Circle | Time Finance |
|---|---|---|---|---|---|
| Product | SME term loan + bridging | SME term loan, asset finance + commercial mortgage | Asset finance, invoice finance, commercial mortgages | Term loan | Asset finance, invoice finance, vehicle finance |
| Ticket | £1m to tens of millions (its own figure) | £25,001 to £150,000 (business loans); £25k to £2.5m (asset finance); £150k to £15m (commercial mortgages) (its own figures) | 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 | Bespoke | Business loans 9.90% to 13.75% interest; other products quoted per deal | Quoted per deal (not published) | From 6.9% per year | Bespoke |
| Decision | Funds can be with you in a matter of weeks (its own words) | Decision by the next working day (its own aim) | 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 | Strong | Top tier | Strong | Top tier | Strong |
Sources: each lender's own published product pages, as recorded in our lender index: OakNorth · Allica Bank · Aldermore · Funding Circle · Time Finance. Figures change; confirm with the lender before you rely on one.
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).
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 OakNorth?
The closest UK specialty finance alternatives are Allica Bank, Aldermore, Funding Circle and Time Finance. The table above sets them side by side with OakNorth.
How does OakNorth compare on ticket size and rate?
OakNorth offers SME term loan + bridging, with tickets of £1m to tens of millions (its own figure). Its pricing: bespoke.
How quickly does OakNorth make a decision?
Decision time for OakNorth: Funds can be with you in a matter of weeks (its own words). 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 OakNorth do a soft-search quote?
OakNorth 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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