Allica Bank is a fast-scaling UK fintech bank that combines modern technology with traditional relationship banking for the UK mid-market sector. If you are researching commercial funding options for your business, understanding how Allica Bank operates, what specific business finance products it provides, and whether your business meets its target customer profile can help you make an informed decision.
Overview and Key Facts
Allica Bank is a licensed UK bank operating under FCA firm reference number 821851 and Companies House number 07706156. The institution was created to address the funding needs of established small and medium-sized enterprises that require tailored finance solutions alongside modern digital tools and personal support from a dedicated relationship manager.
Feature | Details |
|---|---|
Provider Type | Bank |
Specialisms | Commercial Mortgages & Asset Finance |
Access Method | Direct |
Government Schemes | Accredited lender for government-backed schemes (e.g. Growth Guarantee Scheme) |
Target Business Size | Established SMEs (10 to 250 staff) |
Minimum / Maximum Deal Size | £25,000 to £15,000,000 |
Business Finance Products Offered by Allica Bank
Allica Bank provides a varied suite of business finance solutions designed to meet different operational and growth requirements. While their core specialisms are commercial mortgages and asset finance, their portfolio includes several key financial products:
Business Loans: Structured funding options designed to support business growth, working capital, or strategic projects.
Asset Finance: Solutions designed to help businesses spread the cost of acquiring vital machinery, vehicles, or business equipment over time.
Hire Purchase: A dedicated asset facility allowing businesses to use equipment while making regular payments towards ultimate ownership.
Invoice Finance: Cash flow facilities that allow businesses to draw funds against outstanding customer invoices rather than waiting for invoice payment terms.
Revolving Credit and Line of Credit: Flexible facilities providing ongoing access to working capital up to an agreed limit, allowing businesses to draw and repay funds as needed.
Commercial Mortgages, Bridging, and Development: Specialized property finance products designed for purchasing commercial premises, short-term property bridging, or funding construction and development projects.
Who Does Allica Bank Suit?
Allica Bank primarily targets established small and medium-sized enterprises (SMEs) employing between 10 and 250 staff. It is designed for business owners who prefer working with a dedicated relationship manager rather than relying solely on automated banking services.
Because Allica Bank specializes in commercial mortgages and asset finance, it is particularly suitable for businesses seeking to purchase commercial property, fund equipment upgrades, or refinance existing asset commitments.
Eligibility Criteria and Deal Sizes
When assessing whether Allica Bank is suitable for your business, it is helpful to consider the available eligibility details:
Business Size: Tailored for established SMEs with 10 to 250 employees.
Trading History: Third-party reviews indicate that Allica Bank typically works with established businesses that have been trading for at least 24 months.
Deal Sizes: Ranging from £25,000 to £15,000,000 depending on finance product. Maximum £150,000 for business loans, £15,000,000 for growth finance and commercial mortgages.
Sole Traders: The bank does not publish specific guidance on whether sole traders are eligible for its business finance products.
Government Schemes: Allica Bank is an accredited lender for government-backed schemes, such as the Growth Guarantee Scheme, which can help eligible businesses access finance.
Fees: Third-party lender overviews cite a documentation fee of £295 for certain facilities.
How to Apply for Allica Bank Finance
Access to Allica Bank facilities is direct. Business owners can apply or enquire directly via the official website at https://www.allica.bank/. During the application process, businesses typically work with a dedicated relationship manager who reviews company financial records, trading history, and funding requirements to determine suitability.
Comparing Business Finance Options with SME Money
While Allica Bank offers a range of tailored products for mid-market businesses, exploring options across the wider lending market could help in securing the right finance for your company. Different lenders offer varying rates, criteria, and terms based on your industry, trading history, and funding needs.
At SME Money, we help UK business owners navigate their options by connecting them with specialist finance brokers. These brokers search across over 100 lenders to help you evaluate products without the bias of a single bank. Whether you are seeking business loans, asset finance, or invoice finance, comparing multiple providers ensures you find a solution tailored to your exact requirements.
Just create an account and compare business funding options for free.