Alternatives to OakNorth
4 UK specialty finance alternatives to OakNorth, compared on product type, ticket band, rate, decision time and eligibility.
OakNorth vs the 4 alternatives
| Compared on | OakNorth | Allica Bank | Aldermore | Funding Circle | Time Finance |
|---|---|---|---|---|---|
| Product | SME term loan + bridging | SME term loan, asset finance + commercial mortgage | Asset finance, invoice finance, commercial mortgages | Term loan | Asset finance, invoice finance, vehicle finance |
| Ticket | £1m to tens of millions | £25k to £150k (business loans); up to £15m (commercial mortgages) | Not published for asset or invoice finance; commercial real estate loans of £3m to £100m (its own figures) | £10k to £750k | Not published overall; secured loans of £50k to £500k (its own figures) |
| Rate | Bespoke | Business loans 9.90% to 13.75% interest; other products quoted per deal | Quoted per deal (not published) | From 6.9% per year | Bespoke |
| Decision | Typically funds within weeks (OakNorth's own wording) | Money in days on business loans; longer for larger facilities | Not published | As little as 5 minutes | Not published |
| Soft search | No | No | No | Yes | Yes |
| FundBiz editorial tier | Strong | Top tier | Strong | Top tier | Strong |
Sources: each lender's own published product pages, as recorded in our lender index: OakNorth · Allica Bank · Aldermore · Funding Circle · Time Finance. Figures change; confirm with the lender before you rely on one.
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).
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.
Funding Circle
As little as 5 minutes · From 6.9% per yearMainstream lender for term loans between £10k and £750k. It suits established Ltd companies with a trading record and clean credit that want a fixed-repayment term loan rather than a flexi or MCA.
Time Finance
Not published · BespokeMid-ticket alternative finance specialist that suits businesses wanting asset finance, invoice finance and vehicle finance combined under one lender.
Frequently asked questions
What are the main alternatives to OakNorth?
The closest UK specialty finance alternatives are Allica Bank, Aldermore, Funding Circle and Time Finance. The table above sets them side by side with OakNorth.
How does OakNorth compare on ticket size and rate?
OakNorth offers SME term loan + bridging, with tickets of £1m to tens of millions. Its pricing: bespoke.
How quickly does OakNorth make a decision?
Decision time for OakNorth: Typically funds within weeks (OakNorth's own wording). 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 OakNorth do a soft-search quote?
OakNorth doesn't offer a soft-search quote at the eligibility stage. Among the alternatives, Funding Circle and Time Finance offer 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.
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Send an enquiry →Last updated: . Editorial by Oliver Mackman.