Alternatives to OakNorth

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

OakNorth vs the 4 alternatives

OakNorth compared with 4 alternatives, last reviewed 2026-05-10
	OakNorth	Allica Bank	Aldermore	Funding Circle	Time Finance
Product	SME term loan + bridging	SME term loan + commercial mortgage	Asset finance, invoice finance, commercial mortgages	Term loan	Asset finance, invoice finance, vehicle finance
Ticket	£500k to £50m+	£150k to £5m	£25k to £5m	£10k to £500k	£10k to £2m
Rate	Bespoke	From 7.99% APR	From 7.5% APR equivalent	6.9% to 26.9% APR	Bespoke
Decision	7 to 14 business days	5 to 10 business days	5 to 10 business days	1 to 3 business days	2 to 5 business days
Soft search	No	No	No	Yes	Yes
Rating	4.2	4.4	4.1	4.3	4.0

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.

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.

Funding Circle

1 to 3 business days · 6.9% to 26.9% APR

Panel anchor for unsecured term loans between £10k and £500k. We route established Ltd companies with 2+ years trading and clean credit here first when the applicant wants a fixed-repayment term loan rather than a flexi

Best for: Established Ltds with 2+ years trading and clean credit, Working-capital term loans between £25k and £250k.

Time Finance

2 to 5 business days · Bespoke

Panel mid-ticket alternative finance specialist we route to when the file needs asset finance, invoice finance and vehicle finance combined under one lender. Particularly useful for transport, manufacturing and hospitali

Best for: Mid-ticket Ltds combining asset finance, invoice finance and vehicle under one lender, Transport, manufacturing and hospitality SIC codes.

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. 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 OakNorth compare on ticket size and rate?

OakNorth offers sme term loan + bridging from £500k to £50m+ at a typical Bespoke. 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 OakNorth make a decision?

OakNorth typically reaches a decision in 7 to 14 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 OakNorth do a soft-search quote?

OakNorth does not offer a soft-search quote at the eligibility stage. Among the alternatives, Funding Circle, Time Finance offer a soft-search quote.

Check eligibility for our specialty panel

Limited companies, LLPs and partnerships of 4+ only. Specialty UK finance for MCA, asset finance, commercial mortgage, bridging, VAT and post-decline.

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