OakNorth Bank Review

Item: OakNorth 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 OakNorth Bank.

What does OakNorth Bank offer UK businesses?

OakNorth Bank does not offer a direct lending product. OakNorth does not publish a standard rate range. Figures checked 23 August 2026 and indicative only.

OakNorth Bank plc is a UK bank that has provided business lending since 2015, alongside personal savings accounts. It focuses on larger, bespoke business finance, including property development finance, acquisition finance, debt finance, revolving credit facilities, fund finance and residential property investment finance, typically from £1 million upwards. OakNorth states it has provided over £15 billion in funding since 2015. It is headquartered in London, with an additional office in Manchester, and is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority.

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

Amount

£1M – £0

Rates

N/A – N/A

OakNorth does not publish a standard rate range; pricing on its business loans and property finance is individually assessed per deal based on trading history, turnover, profitability and EBITDA.; OakNorth does not publish a maximum facility size, describing it only as tens of millions, so no ceiling is stated here

Speed

OakNorth states it typically funds partners within weeks rather than months, and in some cases within days; no fixed guaranteed decision timescale is published

What is OakNorth Bank?

OakNorth Bank (OakNorth Bank plc) is a UK-based business finance provider founded in 2015 and headquartered in London. OakNorth Bank plc is a UK bank that has provided business lending since 2015, alongside personal savings accounts. It focuses on larger, bespoke business finance, including property development finance, acquisition finance, debt finance, revolving credit facilities, fund finance and residential property investment finance, typically from £1 million upwards. OakNorth states it has provided over £15 billion in funding since 2015. It is headquartered in London, with an additional office in Manchester, and is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority. They have lent £15 billion+ to date.

Founded 2015 London OakNorth Bank plc is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority (Financial Services Register number 629564).

Where these details come from

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

Rates and costs

Rate range: N/A – N/A (OakNorth does not publish a standard rate range; pricing on its business loans and property finance is individually assessed per deal based on trading history, turnover, profitability and EBITDA.; OakNorth does not publish a maximum facility size, describing it only as tens of millions, so no ceiling is stated here)
Representative APR: No published representative APR; rates are individually assessed per loan
Amount range: £1,000,000 – £0
Approval speed: OakNorth states it typically funds partners within weeks rather than months, and in some cases within days; no fixed guaranteed decision timescale is published

Eligibility requirements

Minimum trading history: No fixed minimum published; trading history is one of several factors assessed case-by-case
Minimum turnover: No fixed minimum published; annual turnover is assessed individually as part of underwriting
Credit requirements: OakNorth does not publish fixed credit or eligibility thresholds. Its own site states it considers how long a business has been trading, its annual turnover, whether it is profitable, and its EBITDA, describing itself as 'not an out-the-box lender' with 'no one-size-fits-all approach'. Each application is individually underwritten rather than automatically scored.

How to apply

Check eligibility through Lendus, answer a few questions about your business and funding needs (2 minutes)

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Pros and cons

Pros

Backed by a fully regulated UK bank, authorised by the PRA and regulated by the FCA and PRA
Funds larger, bespoke business loans from £1 million up to tens of millions of pounds
States it can fund partners within days or weeks, rather than the months typical of traditional bank lending
Individually underwritten case-by-case, rather than a rigid automated credit score approach
Long track record since 2015, with over £15 billion in funding provided

Cons

Minimum loan size of £1 million makes it inaccessible to small businesses and most SMEs
No published interest rates, so applicants cannot compare a rate range before applying
No published minimum trading history or turnover thresholds, making eligibility hard to self-assess
Limited physical footprint (London and Manchester only) compared with high-street banks
Focused on specific sectors and larger, corporate-style facilities rather than general working-capital loans

Is OakNorth Bank right for you?

Best for

Established, larger UK businesses seeking bespoke finance of £1 million or more, particularly in property development, real estate investment, acquisitions or fund finance, where individually underwritten terms matter more than a fast, small, standardised loan.

Not ideal for

Small businesses and start-ups needing loans under £1 million, or any business wanting a published rate or a standardised, self-service application process rather than an individually assessed facility.

Frequently asked questions about OakNorth Bank

Is OakNorth legit?

Yes. OakNorth Bank plc is a UK bank authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority (Financial Services Register number 629564). It is registered at Companies House under number 08595042 and has offered business lending since 2015.

What are OakNorth's interest rates?

OakNorth does not publish a standard rate range. Pricing on its business loans and property finance is individually assessed per deal, based on factors such as trading history, turnover, profitability and EBITDA.

How much can I borrow from OakNorth?

OakNorth's own site states its minimum business loan size is currently £1 million, with facilities available up to tens of millions of pounds. It does not publish an exact maximum loan size.

How fast is OakNorth's approval process?

OakNorth states it can typically fund partners within weeks rather than months, and in some cases within days. It does not publish a guaranteed decision timescale.

Is OakNorth FCA regulated?

Yes. OakNorth Bank plc is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority, under Financial Services Register number 629564.

What minimum trading history or turnover does OakNorth require?

OakNorth does not publish fixed minimum trading history or turnover thresholds. It states that trading history, annual turnover, profitability and EBITDA are all considered as part of an individual, case-by-case assessment, and describes itself as not having a one-size-fits-all approach.

OakNorth vs Funding Circle, which is better?

OakNorth is built for much larger, bespoke facilities from £1 million upwards, mainly for property development, real estate investment, acquisitions and fund finance, with individually assessed pricing. Funding Circle serves smaller SMEs with standardised term loans from £10,000 to £500,000 at published fixed rates. If you need a small, fast, clearly priced loan, Funding Circle fits; if you need a large, bespoke facility, OakNorth is more appropriate.