Head to head
Allica Bank vs Funding Circle: Which UK Business Finance Provider in 2026?
Independent, side by side. Rate, ticket band, decision speed and eligibility compared for UK limited companies and LLPs.
Start here · What do you need?
Allica Bank is the stronger all-round pick in our reviews, but Funding Circle wins on specific files. Allica Bank offers SME term loan, asset finance + commercial mortgage (ticket range: £25k to £150k (business loans); up to £15m (commercial mortgages); rate: Business loans 9.90% to 13.75% interest; other products quoted per deal); Funding Circle offers term loan (ticket range: £10k to £750k; rate: From 6.9% per year). The right answer depends on ticket size, trading history and sector. Funding Circle beats Allica Bank for established Ltds with a trading record and clean credit. Read the side-by-side, then jump to the "When Allica Bank wins" and "When Funding Circle wins" sections for the buyer-fit logic.
Source: FundBiz methodology. Editorial by Best Business Loans Ltd (16833937).
Allica Bank, at a glance
- Product
- SME term loan, asset finance + commercial mortgage
- Ticket range
- £25k to £150k (business loans); up to £15m (commercial mortgages)
- Typical rate
- Business loans 9.90% to 13.75% interest; other products quoted per deal
- Decision time
- Money in days on business loans; longer for larger facilities
- FundBiz editorial view
- Stronger all-round; best for established Ltd companies with three or more years of filed accounts
Funding Circle, at a glance
- Product
- Term loan
- Ticket range
- £10k to £750k
- Typical rate
- From 6.9% per year
- Decision time
- As little as 5 minutes
- FundBiz editorial view
- Wins on specific files; best for established Ltds with a trading record and clean credit
Side-by-side
Full profiles: Allica Bank · Funding Circle
| Compared on | Allica Bank | Funding Circle |
|---|---|---|
| Product type | SME term loan, asset finance + commercial mortgage | Term loan |
| Ticket range | £25k to £150k (business loans); up to £15m (commercial mortgages) | £10k to £750k |
| Typical rate | Business loans 9.90% to 13.75% interest; other products quoted per deal | From 6.9% per year |
| Decision time | Money in days on business loans; longer for larger facilities | As little as 5 minutes |
| Soft search at quote | No (hard search) | Yes |
| Ltd-only? | Yes | No |
Sources: Allica Bank's own site · Funding Circle's own site. Figures change; confirm with the lender before you rely on one.
FundBiz enquiries are for limited companies, LLPs and partnerships with four or more partners. Some lenders on this page also accept other business types; we do not arrange those and do not recommend a lender on that basis.
When Allica Bank wins
- Genuine PRA-regulated bank with FSCS protection on linked deposit accounts, which matters to risk-averse borrowers.
- Rate transparency is among the cleanest of the lenders we review.
- A strong option for £250k+ tickets, alongside Funding Circle and OakNorth.
- Real underwriter on the case, so files with complexity that need a human get one.
Best for
Established Ltd companies with three or more years of filed accounts, Asset-backed and commercial-mortgage applicants wanting real bank underwriting, Larger facilities where the applicant can wait for relationship-led underwriting.
Watch outs
- Slower than fintech alternatives, so time-critical borrowers may need another lender.
- Hard credit search at full application stage, so it is worth applying only once you're committed.
- Business loans need at least three years of filed accounts, so younger companies may look at Funding Circle or iwoca.
When Funding Circle wins
- Funding Circle says limited companies and LLPs can get a decision without affecting their credit score.
- A 30-second eligibility check before applying, on Funding Circle's own site.
- Decision in as little as 5 minutes on Funding Circle's own figures, fast enough that a clean case rarely needs a slower bank.
- Established brand, useful when applicants want a name they recognise.
Best for
Established Ltds with a trading record and clean credit, Working-capital term loans between £25k and £250k, Borrowers who want a recognised brand and a fast soft-search quote from the lender.
Watch outs
- Headline 6.9% rate is for top-tier files only, so most borrowers should expect to pay more.
- Personal guarantee is almost always required.
- Less competitive on £100k+ tickets than Allica or OakNorth.
FAQ
Allica Bank or Funding Circle: which is the better UK business finance provider in 2026?
Allica Bank is our stronger all-round pick in our reviews, but the right answer depends on what your file looks like. Allica Bank is the stronger pick for established Ltd companies with three or more years of filed accounts, while Funding Circle is the stronger pick for established Ltds with a trading record and clean credit. If your file sits in one of those buckets, pick the right fit rather than the headline. See our /methodology/ for how we assess each lender.
What does each product look like, Allica Bank vs Funding Circle?
Allica Bank offers SME term loan, asset finance + commercial mortgage (ticket range: £25k to £150k (business loans); up to £15m (commercial mortgages); rate: Business loans 9.90% to 13.75% interest; other products quoted per deal; decision time: Money in days on business loans; longer for larger facilities).
Funding Circle offers term loan (ticket range: £10k to £750k; rate: From 6.9% per year; decision time: As little as 5 minutes). Allica Bank runs a hard credit search at full application. Funding Circle uses a soft search at quote. Verify live commercials before signing because lender pricing moves and bespoke rates are common above £100k tickets.
Which is weakest for what?
Allica Bank is the wrong answer for business loans under £25,001, consider Funding Circle or iwoca. Funding Circle is the wrong answer for sub-12-month trading, consider iwoca or Start Up Loans Company. If either of those describes your file, look at the side-by-side table for the alternative, or read our other lender reviews.
Can FundBiz help with Allica Bank or Funding Circle?
FundBiz is not a lender and is independent of both. This comparison and our lender reviews are editorial research to help you decide which to approach. FundBiz doesn't send enquiries to lenders. If you send an enquiry through FundBiz, we pass it to a business finance broker, who will contact you about your options.
Who can send an enquiry through FundBiz?
The FundBiz enquiry form is for limited companies, LLPs and partnerships with four or more partners. Eligibility for Allica Bank and Funding Circle is set by each lender, and trading history requirements vary, so check each lender's own criteria.
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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 comparison 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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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 →FundBiz is owned and operated by Best Business Loans Ltd, directed by Oliver Mackman. Last updated: . Editorial by Best Business Loans Ltd (16833937).