Allica Bank pledges to make over £1 billion in committed lending offers in 2022

Allica Bank – the fintech challenger bank dedicated to strengthening the UK’s established SMEs – promises to make over £ 1 billion in guaranteed loan offers by 2022.

This is twice as much as the £ 500 million target of Allica in 2021 – with the bank eventually offering over £ 540 million to Britain’s SMEs.

The new commitment comes during a period of accelerated growth as the bank scales to become a key force in serving UK businesses, delivering the funding, technology and expertise needed at a crucial time for SMEs.

In addition to its ambitious loan commitment, and following feedback from its brokerage community, Allica recently announced that they have doubled the maximum customer exposure for asset financing to £ 1 million. This comes after the bank revealed that it had broken its monthly record for asset financing three months in a row from January to March. The change gives customers access to additional asset financing to help them achieve their goals.

The bank has also revealed that it has increased its maximum exposure to commercial mortgage customers for nursing home customers to £ 10 million, in a strong display of support for the sector. The increase will help experienced operators who want to grow, as well as first-time buyers with demonstrable experience.

Richard Davies, CEO of Allica Bank, commented: “Allica exists to support the UK’s established SMEs, which have been chronically understaffed by the banking sector. We are therefore very proud that our bank’s strong performance has enabled us to commit to providing £ 1bn in guaranteed loan offers to these companies by 2022. This is a crucial moment in Allica’s journey towards becoming the best lender for UK companies. ”

Nick Baker, Chief Commercial Officer, Allica Bank, commented: “We are proud to listen to our brokerage community and take immediate action as a result. We heard that both small and medium-sized business operators and brokers are looking for a lender who can not only support the first acquisition but also subsequent acquisitions.We hope that by increasing our exposure to £ 10 million we will support many more operators to strengthen and scale their operations.

“Our asset financing proposal has taken off by leaps and bounds since its launch in 2021. By doubling our maximum asset financing maximum customer exposure to £ 1 million, we will be able to support more SMEs to fund their ambitions when they want to bounce back from the pandemic. Allica will also to be able to play a greater role in supporting companies towards their sustainability and net-zero goals.

“Allica Bank is extremely well positioned to help brokers and the UK community of established SMEs strengthen and scale their operations. In 2022, we will continue to develop our products and services, while continuing our mission to transform relationship banking for small and medium sized corporations.”

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