Allica Bank expands soft asset finance offering following broker demand

Allica Bank, the UK challenger bank focused on established businesses, has expanded its support for soft asset finance in a move designed to give brokers and their clients greater choice when funding non-standard assets.

The bank will now provide finance for a wider range of items, including restaurant and office fit-outs, software, park homes and holiday pods, and air conditioning systems. These build on Allica’s existing support for IT equipment, office equipment, leisure, telecoms, security equipment, scaffolding, and gym equipment. The extended offer is already live, with the bank recently approving finance for a paddle court operated by an experienced leisure business.

The development comes in direct response to broker feedback. A recent Allica survey highlighted growing demand for flexible funding options to help established businesses invest with confidence in an environment where access to lending remains a challenge.

The expansion strengthens Allica’s asset finance proposition, which has already seen the bank provide more than £850 million in lending to established businesses. In addition, Allica recently launched a limited-time 0.35% rate reduction on hard assets over £150,000, available until 31 October 2025.

Brandon Hall, Head of Sales – Asset Finance at Allica Bank, said the move underlines the bank’s commitment to supporting brokers and their clients:

“It’s important that we listen to the brokers that are supporting established businesses. They see firsthand what their clients need, and by broadening our support for soft assets, it will make it easier for established businesses to say yes to more opportunities and invest with confidence.

“Business owners are fighting an uphill battle when it comes to lending, with the UK now having the lowest lending rates in the G7. At Allica, we want to help to fix that, which means keeping broker deals moving and giving established businesses access to finance where it matters most.”