Alternatives to Funding Circle
4 UK specialty finance alternatives to Funding Circle, compared on product type, ticket band, rate, decision time and eligibility.
Funding Circle vs the 4 alternatives
| Compared on | Funding Circle | iwoca | Allica Bank | OakNorth | Aldermore |
|---|---|---|---|---|---|
| Product | Term loan | Flexi-loan / line of credit | SME term loan, asset finance + commercial mortgage | SME term loan + bridging | Asset finance, invoice finance, commercial mortgages |
| Ticket | £10k to £750k | £1k to £1m | £25k to £150k (business loans); up to £15m (commercial mortgages) | £1m to tens of millions | Not published for asset or invoice finance; commercial real estate loans of £3m to £100m (its own figures) |
| Rate | From 6.9% per year | From 1.5% per 30 days | Business loans 9.90% to 13.75% interest; other products quoted per deal | Bespoke | Quoted per deal (not published) |
| Decision | As little as 5 minutes | Same day to 24 hours | Money in days on business loans; longer for larger facilities | Typically funds within weeks (OakNorth's own wording) | Not published |
| Soft search | Yes | Yes | No | No | No |
| FundBiz editorial tier | Top tier | Top tier | Top tier | Strong | Strong |
Sources: each lender's own published product pages, as recorded in our lender index: Funding Circle · iwoca · Allica Bank · OakNorth · Aldermore. Figures change; confirm with the lender before you rely on one.
iwoca
Same day to 24 hours · From 1.5% per 30 daysMainstream lender for flexi working capital.
Allica Bank
Money in days on business loans; longer for larger facilities · Business loans 9.90% to 13.75% interest; other products quoted per dealChallenger bank for established businesses: business loans of £25,001 to £150,000, asset finance of £25k to £2.5m and commercial mortgages of £150k to £15m (Allica's own ranges).
OakNorth
Typically funds within weeks (OakNorth's own wording) · BespokeTop-end lender suited to £1m+ tickets (OakNorth lends from £1 million) where the business has the financials to support a bespoke deal.
Aldermore
Not published · Quoted per deal (not published)Challenger bank suited to asset finance, invoice finance and commercial mortgage tickets between £25k and £5m where the borrower has time for proper underwriting and wants a real bank on the other side.
Frequently asked questions
What are the main alternatives to Funding Circle?
The closest UK specialty finance alternatives are iwoca, Allica Bank, OakNorth and Aldermore. The table above sets them side by side with Funding Circle.
How does Funding Circle compare on ticket size and rate?
Funding Circle offers term loan, with tickets of £10k to £750k. Its pricing: from 6.9% per year.
How quickly does Funding Circle make a decision?
Decision time for Funding Circle: As little as 5 minutes. Decision times for the alternatives are listed in the comparison table; faster isn't always cheaper, so weigh speed against rate and ticket fit.
Does Funding Circle do a soft-search quote?
Funding Circle runs a soft-search quote, so it says checking eligibility doesn't affect your credit score. Among the alternatives, iwoca offers a soft-search quote.
How we ranked these lenders
Every lender is scored on the same four FundBiz criteria: pricing transparency, eligibility clarity, decision speed and treatment of declined applicants. Scores are our own desk-research assessment built from the FCA Register, Companies House filings and each lender's published product sheets, not customer reviews and not hands-on product testing. Each list shows the date it was last updated. Inclusion is never paid for, and FundBiz receives no commission from lenders. FundBiz is paid a fixed fee by a business finance broker for each enquiry we pass on. See our full methodology.
Send an enquiry
Tell us what you need in 2 minutes. FundBiz is not a lender and does not run a credit check. We pass your enquiry to a business finance broker, who will contact you about your options. For limited companies, LLPs and partnerships with four or more partners.
Send an enquiry →Last updated: . Editorial by Oliver Mackman.