Allica Bank enters asset-based lending

Since launching five years ago, Allica Bank has grown quickly through their mantra of delivering business banking how it used to be, just better. So quickly, in fact, that Allica has become the UK’s fastest-growing company, according to The Sunday Times’ annual Fast 100 rankings. At the heart of this success is Allica’s focus on established SMEs, meaning those typically with five to 250 employees, who it sees as underserved by existing banking providers.

Allica’s initial lending focus was commercial property finance, where it attained the unprecedented achievement of being voted commercial property lender of the year by National Association of Commercial Financial Brokers (NACFB) members in its first year of trading. An asset finance division followed a year later, with Allica latterly being named the highest-ranking new entrant in annual league tables produced by industry body Asset Finance Connect.
Allica’s Chief Strategy Officer Conrad Ford explains: “Allica has been so successful in secured lending because we focus on SME customers that the high street banks struggle with.

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