Allica Bank expands support for soft assets in response to broker demand
Allica Bank, the UK’s leading challenger bank for established businesses, has announced an expansion of its soft asset finance offering, giving brokers and their clients more choice when financing non-standard assets.
In addition to the soft assets it already supports, such as IT equipment, office equipment, leisure, telecoms, security equipment, scaffolding and gym equipment, Allica will now also lend against a broader range of assets, including restaurant and office fit-outs, software, park homes and holiday pods, air conditioning and more. The offer is available now, with the challenger having recently approved a paddle court for an experienced operator.
The move comes in direct response to broker demand and feedback from Allica’s recent survey, which highlighted the need for more flexible funding options to support established businesses.
Building on an already strong asset finance proposition, which has seen Allica lend over £850m to established businesses, the challenger also recently announced a limited-time 0.35% rate reduction for hard assets over £150,000, available until 31st October 2025.
Brandon Hall, head of sales – asset finance at Allica Bank, said: “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.”