Allica Bank
Challenger 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). It suits established Ltd companies that want real underwriting and rate transparency rather than a self-serve fintech rate, and asset-backed or property-backed Ltd companies needing a larger facility.
Quick verdict
- Product: SME term loan, asset finance + commercial mortgage.
- Ticket band: £25k to £150k (business loans); up to £15m (commercial mortgages).
- Pricing: Business loans 9.90% to 13.75% interest; other products quoted per deal.
At a glance
Allica Bank, at a glance
- Legal entity
- Allica Bank Limited
- Companies House
- 07706156
- Banking licence
- 2019
- Product
- SME term loan, asset finance + commercial mortgage
- Ticket range
- £25k to £150k (business loans); up to £15m (commercial mortgages)
- Decision time
- Money in days on business loans; longer for larger facilities
- Ltd-only
- Yes
Where Allica Bank is strong
- Genuine PRA-regulated bank with FSCS protection on linked deposit accounts, which matters to risk-averse borrowers.
- Rate transparency is among the cleanest of the lenders we review.
- A strong option for £250k+ tickets, alongside Funding Circle and OakNorth.
- Real underwriter on the case, so files with complexity that need a human get one.
Watch-outs, and when another lender may suit better
- Slower than fintech alternatives, so time-critical borrowers may need another lender.
- Hard credit search at full application stage, so it is worth applying only once you're committed.
- Business loans need at least three years of filed accounts, so younger companies may look at Funding Circle or iwoca.
- Business loans are secured by a personal guarantee from the directors who are ultimate beneficial owners.
Best fit applicants
- Established Ltd companies with three or more years of filed accounts
- Asset-backed and commercial-mortgage applicants wanting real bank underwriting
- Larger facilities where the applicant can wait for relationship-led underwriting
Where Allica Bank is the wrong fit
- Business loans under £25,001, consider Funding Circle or iwoca
- Speed-critical files, consider iwoca or Capify
- Companies with under three years of filed accounts, consider iwoca or Start Up Loans Company
If declined by Allica Bank
If your application to Allica Bank is declined, ask the lender for the reason in writing. Some alternatives are named in the watch-outs section above. See also our Allica Bank decline guide for what to do next, and our side-by-side guide to Allica Bank alternatives for the closest UK specialty finance providers.
Other lenders we list
- 365 Business Finance, Merchant cash advance (revenue-based finance)
- Aldermore, Asset finance, invoice finance, commercial mortgages
- Bizcap, Specialist post-decline / fast cash
- Capify, Short-term business loans and supplier invoice payment
How we rate Allica Bank
This review is FundBiz's own editorial assessment, scored against a published framework. See our methodology for how we rate each lender.
FAQ
What can I borrow through Allica Bank?
Allica Bank offers sme term loan, asset finance + commercial mortgage. Ticket range: £25k to £150k (business loans); up to £15m (commercial mortgages). Typical rate: Business loans 9.90% to 13.75% interest; other products quoted per deal.
How long does Allica Bank take to decide?
Money in days on business loans; longer for larger facilities
Who is Allica Bank the best fit for?
First on the list: Established Ltd companies with three or more years of filed accounts. The full list is under Best fit applicants above.
When might another lender suit better than Allica Bank?
First on the list: Business loans under £25,001, consider Funding Circle or iwoca. The other cases are under Where Allica Bank is the wrong fit above.
Send an enquiry
Tell us what you need in 2 minutes. FundBiz is not a lender and does not run a credit check. We pass your enquiry to a business finance broker, who will contact you about your options. For limited companies, LLPs and partnerships with four or more partners.
Send an enquiry →Official site: Allica Bank
Last updated: . By Adam Parker. FundBiz is owned and operated by Best Business Loans Ltd, directed by Oliver Mackman.