🌟 Rated ‘Excellent’ on Trustpilot 🥇 Ranked #1 in 2024’s The Sunday Times 100 list of Britain's fastest-growing private companies Allica is a bank built especially for established businesses with between 5 and 250 employees. These businesses make up a third of UK employment and turnover, yet the service they get from the big banks is increasingly impersonal, inconvenient, and poor value. We don’t think that’s right. Allica Bank is on a mission to give established businesses the banking they deserve. That means a current account with a great interest rate. A relationship manager whose name and number they actually know. And technology that makes life easier, not harder. It’s proving to be a winning proposition. Allica was recently named as Britain's fastest-growing private company in 2024’s The Sunday Times 100. We’re also the fastest-growing fintech company in the 26-year history of Deloitte’s UK Technology Fast 50 awards. In 2023, we announced we had lent over £2 billion to UK SMEs, raised £2.6 billion in deposits, and become profitable, all in our first four years of business. From our offices in Milton Keynes, London and Manchester, we’re offering business banking how it used to be, just better.
External link for Allica Bank
164 Bishopsgate
4th Floor
London, England EC2M 4LX, GB
100 Avebury Boulevard
Milton Keynes, England MK9 1FH, GB
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Inspiring to hear our CTO Ravneet Shah speak about her experience of moving to the UK and being a working mum. All part of Allica Banks celebration of South Asian Heritage Month which has included some incredible clothes and tasty treats!
“By banking with Allica, we’ve been able to save more than a million pounds a year. This money can now be reinvested in growing our business and creating more jobs and opportunities for people in Colchester and beyond,” said Rob Nezard, owner of UK Radiators. Employing 25 people, UKRadiators.com supplies heating products to homeowners and tradespeople across the whole of the UK. Rob has seen the company’s turnover nearly double in the last three years. Despite UKRadiators.com’s impressive growth, Rob said that the high-street banks simply wouldn’t listen to them when he approached them for help. This left the business with a lot of short-term and expensive debt. However, after speaking to Allica’s relationship manager Ricky Kapoor, Rob was able to refinance that debt, saving him around £100,000 per month that could then be invested back into his business. “I’m especially pleased to have partnered with Allica Bank for the next chapter of our journey. So many banks say they are dedicated to helping businesses grow, but few actually mean it like Allica,” said Rob. Now, with a £1 million refinance from Allica Bank, Rob has laid the foundations for the next stage of its striking growth journey. The funding from Allica will see the business continue to invest in its digital operations and automation, alongside TV and online advertising. Ricky commented, “SMEs remain underserved by mainstream banks, and UKRadiators.com is a case in point. It’s a high-growth business with incredible potential, but considered too complicated by a cookie-cutter approach to underwriting.” 📰 Read the full story: https://lnkd.in/emxWGNmM #heating #radiators #interiordesign #homedecor #colchester #essex #essexbusiness
Signed and paid out just in 24 hours 🚀 Working alongside Lee Mair, Managing Director at Mair Finance, Allica helped an independently-owned plant hire and sales business in Scotland secure a £440,000 asset finance loan. The firm was looking to upgrade over 20 assets to help it complete upcoming contracts. Allica Bank was more than happy to help! Lee Mair said: “This was a complex deal as it had multiple suppliers and over 20 assets – it had its fair share of ‘issues to deal with’. But as always, Emma Lindsay kept things under control and moving forward to complete in time to meet the client’s deadline. “My client and I are delighted with the outcome. It’s also the cheapest rate I have seen for over two years, so here’s hoping it’s a sign of good things to come in the coming months.” Emma Lindsay, Allica’s Business Development Manager for Asset Finance, added: “It’s always a pleasure to work alongside Lee. We worked tirelessly together to present this to our credit team, which resulted in an approval with further appetite to lend. This wasn’t a simple application to process, however, the collaboration with credit and the support teams ensured this was documented and completed efficiently. And we were pleased we could pay out within 24 hours.” #assetfinance #brokers #businessbanking #SMEfinance
How easy is it to set up a business bank account with Allica? Really easy! 💯 Sophie Hossack, Allica Bank's Head of Partnerships, described our assisted account opening process to Johann Goree on his Ask the Accountant podcast, filmed at Accountex London. Sophie ran Johann through what an established business owner can expect when opening a bank account with Allica, starting with a call with one of our dedicated customer success team who will walk them through the application. All being well, they should have an account open in just days. 📺Watch the full episode here: https://lnkd.in/dB9CytVF #accountants #businessbanking #SMEsupport #AccountexLondon
What an evening at the Asset Finance Connect Summer Awards 🤩 Allica took home THREE smashing awards: 🏆AFC Asset Finance Provider of the Year 2024 🏆AF Top 50 - Highest Climber 2024 🏆AF Top 50 - Fastest Growing Lender (%) 2024 A big shout out also to Allica's Relationship Manager, Shannon Thomson, for being shortlisted as a Rising Star 👏 It’s amazing to be recognised with these awards for how Allica Bank is transforming the lending experience for brokers and established SMEs, giving them the business banking they deserve. Thanks to all of our broker partners for your continuous support and feedback, which helps us to keep improving our asset finance proposition. Massive thanks also to the whole Asset Finance Connect team for hosting a truly fantastic night. #assetfinance #brokers #businessbanking #SMEfinance
We're still buzzing from the NACFB Commercial Finance Expo Show 🤩 It was so great to meet with so many of our broker partners, and it was especially exciting to see so many of them putting their Allica money hat on! Thanks to everyone who entered our photo competition on the day! And congratulations to our three winners Peter Blacklock, Steven Wright and Mindy Kaur-Smith 👏 #getyourmoneyhaton #brokers #businessbanking #SMEfinance
Good luck to Allica's business development team as they start their 30km triathlon challenge in Wales today 🚵👏 Their efforts will be really worthwhile as they are raising money to support two vital charities: #ANDYSMANCLUB and Air Ambulances UK. Our team has already achieved 74% of their target, and there's still time to help them reach their £7,500 goal by donating here: https://lnkd.in/enkvCQR3 Nick Baker Ben Green Cesar Carabia Andrade Stephen Spinks Scott Clacher Eshna Harper David Johnston CeMap Calum Johnston Emma Lindsay #charityfundraising #teamchallenge #wales
Congratulations to Rural Finance Limited on being named Allica's asset finance broker of the quarter 👏 Commenting on their experience with Allica, Jemma Cleverly from Rural Finance said: “The reason I use Allica is because of their fantastic levels of service, very quick response and ease of dealing with them. In addition, their e-sign documentation and other processes are quick and streamlined compared to other funders and rates are really competitive. "The relationship I have with Eshna Harper, my Business Development Manager at Allica, is second to none – she can’t do enough for you, is extremely professional and very efficient. Thanks Allica!” In response, Eshna added: "Allica is delighted to award Jemma and Rural Finance our asset finance broker of quarter award. Their team has been incredibly proactive and collaborative in looking to get the absolute best for their clients. The whole Allica team, and especially me personally, have really enjoyed working with them. Well done!" #assetfinance #brokers #SMEsupport
A business with £500,000 in savings is missing out on £14,380 a year in interest by keeping their money with the big banks. That’s according to Allica Bank’s latest Monthly Savings Tracker, which takes the average interest rate available from the big banks and compares it to the best rate offered by challenger banks. The tracker for July revealed: - The average rate available from the big banks to SMEs on their instant access savings is just 1.45% AER. - That’s 2.88% less than the best rate on the market from challenger banks, which is 4.33%. - For an average SME with £75,000 in savings, that equals £2,157 a year. For a more established SME with a larger deposit, the amounts of missed interest can be staggering. Find out more at savingssqueeze.com and sign our petition to help us call for change and get businesses the interest rates their hard work deserves. #GreatBritishSavingsSqueeze #SMEs #SMEfinance #businessbanking #savings
Blimey. Allica Bank has just been named NUMBER 1 in the #SundayTimes100 ranking of Britain’s fastest-growing private companies! The list – which requires businesses to be profitable and based in the UK – measures average annual growth in sales over the last three years, with Allica posting a growth rate of 537% a year to £191 million. We’re incredibly grateful to be included and would like to say a big well done and thank you to all our colleagues that have made this possible. And thank you, too, to our customers, brokers, partners and suppliers that continue to support us. Congratulations to the other 99 businesses on the list, including the likes of Clive Henry Group, Rheal, TRIP, Ancient + Brave | B Corp, Pentalec, Adanola, Heroes, Purdy & Figg, and Liqueo. We’re in good company! #fintech #UKfintech