OakNorth
Top-end lender suited to £1m+ tickets (OakNorth lends from £1 million) where the business has the financials to support a bespoke deal. It suits established Ltd companies that have a clear acquisition, growth or commercial-property story and the speed pressure allows for proper underwriting. PRA-regulated UK bank with proprietary credit modelling that picks up cases mainstream banks refuse.
Quick verdict
- Product: SME term loan + bridging.
- Ticket band: £1m to tens of millions.
- Pricing: Bespoke.
At a glance
OakNorth, at a glance
- Legal entity
- OakNorth Bank plc
- Companies House
- 08595042
- Lending since
- 2015
- Product
- SME term loan + bridging
- Ticket range
- £1m to tens of millions
- Decision time
- Typically funds within weeks (OakNorth's own wording)
- Ltd-only
- Yes
Where OakNorth is strong
- PRA-regulated UK bank, useful when applicants want a deposit-taking institution behind the deal.
- Proprietary credit modelling means OakNorth will engage with some cases that mainstream banks would refuse.
- Significant facility size available, from £1m up to tens of millions.
- Strong record on commercial real estate and acquisition finance, which suits property-backed and acquisition-led borrowers.
Watch-outs, and when another lender may suit better
- Not self-serve, so a banker has to engage and the borrower has to commit time.
- Headline rates not published, so there's no rate guide before the conversation.
- Loans start at £1 million; smaller tickets may suit Allica, Aldermore or Funding Circle.
- Bespoke underwriting takes weeks, which is too slow for cash-this-week borrowers, who may prefer iwoca or Capify.
Best fit applicants
- £1m+ tickets backed by clear acquisition, growth or property story
- Established Ltds with strong financials and time for a proper underwrite
- Commercial real estate and acquisition finance deals
Where OakNorth is the wrong fit
- Sub-£1m tickets, consider Allica, Aldermore or Funding Circle
- Self-serve speed-led applicants, consider iwoca or Capify
- Newer Ltds without a 2+ year trading record, consider iwoca or Start Up Loans Company
If declined by OakNorth
If your application to OakNorth is declined, ask the lender for the reason in writing. Some alternatives are named in the watch-outs section above. See also our OakNorth decline guide for what to do next, and our side-by-side guide to OakNorth 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
- Allica Bank, SME term loan, asset finance + commercial mortgage
- Bizcap, Specialist post-decline / fast cash
How we rate OakNorth
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 OakNorth?
OakNorth offers sme term loan + bridging. Ticket range: £1m to tens of millions. Typical rate: Bespoke.
How long does OakNorth take to decide?
Typically funds within weeks (OakNorth's own wording)
Who is OakNorth the best fit for?
First on the list: £1m+ tickets backed by clear acquisition, growth or property story. The full list is under Best fit applicants above.
When might another lender suit better than OakNorth?
First on the list: Sub-£1m tickets, consider Allica, Aldermore or Funding Circle. The other cases are under Where OakNorth 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: OakNorth
Last updated: . By Adam Parker. FundBiz is owned and operated by Best Business Loans Ltd, directed by Oliver Mackman.