Allica Bank: products, terms and eligibility

Allica Bank is a UK provider of asset finance. The legal entity named on its site is Allica Financial Services Limited (trading as Allica Bank Asset Finance), company number 12784979. It is based in London. Companies House shows the company was incorporated 2011 (Allica Bank Limited). It is part of Allica Bank Limited.

Allica Bank says it was built for established businesses and obtained its banking licence in 2019. Its headquarters are in Worship Street, London, with further UK hubs in Milton Keynes and Manchester and hubs in India. It says it focuses on established businesses with 5 to 250 employees. Its asset finance is provided by Allica Financial Services Limited, trading as Allica Bank Asset Finance.

In its own words on scale:

• Says it has lent over £4 billion to established businesses (figure on its site in October 2026).
• Says it has over 25,000 established business customers across the UK (figure on its site in October 2026).

Everything on this page comes from what Allica Bank publishes itself. We show the date we last checked it, and we do not rate or rank lenders.

Allica Bank publishes 2 products for UK businesses. The table above gives the amounts and terms as it states them.

• Asset finance (hard, medium and soft assets): Set monthly payments; the asset belongs to the business after the last repayment.
• Hire purchase for high net worth owners and shareholders (wheeled assets): Unregulated hire purchase.

Asset finance (hard, medium and soft assets)

Finance for hard, medium and soft assets such as manufacturing and production equipment, materials handling, transportation, scaffolding, plant and machinery, agricultural, textile and medical equipment, robotics and telecoms. Facilities run from £25,000 to £2.5 million, with a maximum advance of 100% of the asset value. The borrower makes fixed monthly payments to use the asset and ownership transfers to the business once all repayments are made.

Allica Bank says its finance is used for:

• Buying manufacturing or production equipment
• Plant and machinery
• Vehicles and transportation
• Medical equipment
• Agricultural equipment

Sectors and business types it says it funds:

• Established businesses with 5 to 250 employees
• Manufacturing
• Agriculture
• Healthcare
• Transport

What it says it does not fund:

• Businesses outside England, Scotland and Wales

Allica Bank publishes these criteria. Meeting them does not mean an application will be accepted: every lender makes its own decision.

• UK-registered limited companies, LLPs, partnerships and sole traders.
• Typically two years of full financial accounts.
• Based in England, Scotland or Wales.
• Established businesses with 5 to 250 employees (bank-wide target).
• High net worth individual route: net income of at least £150,000 and/or net assets of at least £500,000.

Allica Bank describes its process like this:

1. Enquire through the contact form or by phone, or via an introducer.
2. Brokers submit applications through the Introducer Portal.
3. Allica’s credit and underwriting teams assess the case, with status updates through the portal.

Information it says it asks for:

• Two years of full financial accounts
• Product guide available as a PDF on the asset finance page

Every application is subject to status and the lender’s own criteria at the time.

Asset finance spreads the cost of equipment, vehicles or machinery, with the asset itself as the main security. Under hire purchase you own the asset once the final payment is made; under a lease you pay to use it and hand it back, extend or replace it at the end.

Lenders look at the asset’s age, condition and resale value as well as the business, and many fund used as well as new equipment. Sector pages such as transport and logistics finance and construction finance show how it is used in practice.

Points Allica Bank publishes that are worth knowing:

• Asset finance products are stated as not regulated products.
• Approved to offer asset finance through the Government’s Growth Guarantee Scheme.
• Asset finance is provided by Allica Financial Services Limited, a separate company from Allica Bank Limited.
• A documentation fee applies; see its tariff of fees.

Security and guarantees

Security and guarantee requirements for asset finance are not stated on the pages read.

Allica Bank’s site states: “Asset finance and growth finance services are provided by Allica Financial Services Limited trading as Allica Bank Asset Finance. Registered in England and Wales with company number 12784979. Allica Financial Services Limited is not authorised or regulated by the Prudential Regulation Authority or the Financial Conduct Authority. The asset finance and growth finance products offered by Allica Bank”

Protections differ by borrower type and loan size. Most lending to limited companies is not regulated consumer credit, so read the agreement and ask the lender what applies to you.

Other providers of asset finance with profiles here include Armada Asset Finance, Davenham Asset Finance and Dawsongroup Finance. Each profile uses that lender’s own published terms.

The full list, grouped by product type, is in our directory of UK business lenders.

Capzy is a credit broker, not a lender, and gets paid by the lender. One application lets your business compare options across lenders, so you can weigh this kind of facility against the alternatives. You can check your funding options with a soft search that does not affect your credit score. A full application to a lender may involve a hard search, and any offer is subject to status and lender criteria.