Allica Bank launches limited-time rate reduction on asset finance

Allica Bank, the UK challenger bank for established businesses, has announced a 0.35% rate cut on asset finance for hard assets, marking its most competitive offer in three years.

The reduced rate is available on loans ranging from £150,000 to £2.5 million and will remain open to applications until 31st October 2025.

This offer comes during a strong year for Allica’s asset finance division. Earlier in 2025, the bank launched its long-term sub hire product, enabling the sub hire of equipment for up to 36 months, and expanded its refinance options to support asset purchases, management buyouts, and working capital. To date, Allica has provided more than £850 million in asset finance to established businesses across the UK.

Brandon Hall, Head of Sales – Asset Finance at Allica Bank, said: “We’re always looking at how we can support brokers to deliver the best outcomes for established businesses.

“These businesses are the backbone of the UK economy, responsible for over a third of UK employment, and this rate reduction offers another highly competitive product to help them invest with confidence.

“This is also the lowest rate we’ve offered in three years — exactly what the market needs right now to keep deals moving.”