Allica Bank Review

Item: Allica Bank Business Finance
Author: Lendus

Figures last checked 23 August 2026. Independent review by Lendus — we are an introducer, not a lender, and are not paid by Allica Bank.

What does Allica Bank offer UK businesses?

Allica Bank lends £25k to £15M at rates from 9.90% to 13.75%. Approval: Business loan decisions are typically given no later than the next working day. Commercial mortgage offers have been issued within around seven days of application, according to a customer case study published on Allica's own website.. Minimum trading history 3+ years of filed accounts for unsecured business loans; 2+ years of financial accounts for commercial mortgages. Minimum turnover No fixed minimum turnover is published; business loan applicants must demonstrate at least 150% debt service cover. Figures checked 23 August 2026 and indicative only.

Allica Bank is a UK bank focused on established small and medium-sized businesses, having obtained its banking licence in 2019. It is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Allica offers unsecured business loans, commercial mortgages and a business bank account, and is headquartered in London with additional hubs in Milton Keynes and Manchester.

Written by the Lendus editorial team. Last updated: April 2026.

Amount

£25k – £15M

Rates

9.90% – 13.75%

per annum, for unsecured business loans of £25,001-£150,000; the exact rate depends on the application, business financials and guarantor details. Commercial mortgage rates are not published and are individually quoted at application; a 3% arrangement fee applies to business loans (1.5% owner-occupied / 2.0% investment for commercial mortgages).

Speed

Business loan decisions are typically given no later than the next working day. Commercial mortgage offers have been issued within around seven days of application, according to a customer case study published on Allica's own website.

What is Allica Bank?

Allica Bank (Allica Bank Limited) is a UK-based business finance provider founded in 2019 and headquartered in London. Allica Bank is a UK bank focused on established small and medium-sized businesses, having obtained its banking licence in 2019. It is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Allica offers unsecured business loans, commercial mortgages and a business bank account, and is headquartered in London with additional hubs in Milton Keynes and Manchester. .

Founded 2019 London Allica Bank Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority, firm reference number 821851.

Where these details come from

Companies House number: find-and-update.company-information.service.gov.uk , checked 2026-08-23
Regulatory status: www.allica.bank , checked 2026-08-23

Rates and costs

Rate range: 9.90% – 13.75% (per annum, for unsecured business loans of £25,001-£150,000; the exact rate depends on the application, business financials and guarantor details. Commercial mortgage rates are not published and are individually quoted at application; a 3% arrangement fee applies to business loans (1.5% owner-occupied / 2.0% investment for commercial mortgages).)
Representative APR: No published representative APR
Amount range: £25,001 – £15,000,000
Approval speed: Business loan decisions are typically given no later than the next working day. Commercial mortgage offers have been issued within around seven days of application, according to a customer case study published on Allica's own website.

Eligibility requirements

Minimum trading history: 3+ years of filed accounts for unsecured business loans; 2+ years of financial accounts for commercial mortgages
Minimum turnover: No fixed minimum turnover is published; business loan applicants must demonstrate at least 150% debt service cover
Credit requirements: Allica lends to limited companies and LLPs registered in England, Scotland or Wales. Unsecured business loan applicants must have filed at least three years of accounts and demonstrate at least 150% debt service cover; commercial mortgage applicants need at least two full years of financial accounts. Applicants provide 3-6 months of bank statements (depending on loan size) plus management accounts, and applications go through a decision-in-principle stage followed by full underwriter review.

How to apply

Review Allica Bank's current application requirements on its website.

You can also explore business funding through Lendus. Fundably handles these applications and matches eligible businesses with its panel.

Fundably accepts UK limited companies with at least 3 months of trading and monthly revenue.

Availability of this particular lender through Fundably is not guaranteed.

Pros and cons

Pros

Authorised UK bank, regulated by the FCA and PRA, having held a full banking licence since 2019
Business loan decisions are typically given no later than the next working day
High commercial mortgage limits: up to £10 million for owner-occupied property and up to £15 million for investment property
No early repayment penalties on unsecured business loans
Also offers a business bank account (Business Rewards Account) alongside its lending products

Cons

Minimum unsecured business loan of £25,001, so not suited to small or short-term working capital needs
Requires at least three years of filed accounts for business loans (two years for commercial mortgages), ruling out start-ups and newer businesses
Business loan rates of 9.90% to 13.75% plus a 3% arrangement fee add meaningfully to the cost of borrowing
Commercial mortgage pricing is not published upfront and is only confirmed via a bespoke quote
Requires applicants to demonstrate at least 150% debt service cover, which may exclude lower-margin businesses

Is Allica Bank right for you?

Best for

Established UK limited companies and LLPs with at least two to three years of filed accounts seeking a larger secured commercial mortgage (up to £10 million owner-occupied or £15 million investment) or an unsecured business loan between £25,001 and £150,000, from a PRA/FCA-authorised bank with fast decision turnaround.

Not ideal for

Start-ups or businesses without two to three years of filed accounts, and those needing loans under £25,000 or same-day working capital. Also not ideal for businesses that cannot demonstrate at least 150% debt service cover.

Frequently asked questions about Allica Bank

Is Allica Bank legit?

Yes. Allica Bank Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the PRA, firm reference number 821851. It is registered at Companies House under company number 07706156 and has held a full UK banking licence since 2019. It is headquartered in London, with additional hubs in Milton Keynes and Manchester.

What are Allica Bank's business loan rates?

Allica states that interest rates on its unsecured business loans (£25,001 to £150,000) fall between 9.90% and 13.75% per annum, with the exact rate depending on the application, business financials and guarantor details. Allica does not publish a single representative APR. A 3% arrangement fee applies. Commercial mortgage rates are not published and are quoted individually per application, with arrangement fees of 1.5% (owner-occupied) or 2.0% (investment).

How much can I borrow from Allica Bank?

Allica offers unsecured business loans from £25,001 to £150,000 over terms of one to five years. Its commercial mortgages range from £150,000 up to £10 million for owner-occupied property (up to 80% loan to value) and up to £15 million for investment property (up to 75% loan to value).

Is Allica Bank FCA regulated?

Yes. Allica Bank Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the PRA, under firm reference number 821851. This is stated directly on Allica's own website terms of use.

How long does Allica Bank take to approve a loan?

For unsecured business loans, Allica says applicants get a decision no later than the next working day. For commercial mortgages, one customer case study published on Allica's site describes receiving a mortgage offer within around seven days of applying, though timing will vary by case.

What trading history does Allica Bank require?

Unsecured business loan applicants need at least three years of filed accounts; commercial mortgage applicants need at least two full years of financial accounts. Allica lends only to limited companies and LLPs registered in England, Scotland or Wales.

Allica Bank vs Aldermore, which is better?

Both are established UK banks serving SMEs with business loans and commercial mortgages, so the better fit depends on the specific product and amount you need. Allica's unsecured business loans run from £25,001 to £150,000 with rates of 9.90% to 13.75%, while its commercial mortgages go up to £10 million (owner-occupied) or £15 million (investment). Aldermore offers a broader product range including asset finance and invoice finance alongside business loans and commercial mortgages. Comparing both against your specific eligibility and loan size is the best way to see which offers better terms for your business.