Allica Bank

Allica adds Freeths to legal panel

Allica Bank has added Freeths LLP to its legal panel.

The partnership aims to improve the bank’s lending efficiency to support UK SMEs with the funds they need to purchase or refinance commercial property.

The £100m-plus turnover commercial law firm has 12 offices across the UK. 

“The legal part of the lending process is one of the most complex and time-consuming, which is why it is so important to us at Allica that we make it as slick as possible,” said Nicola Tunney, head of operations at Allica.

“We are delighted to be working with a firm whose values and commercial pragmatism are aligned so closely with our own, and one that is committed to delivering a fast and effective service to our broker partners. 

“Partnering with one of the UK’s leading commercial law firms gives us significant additional capacity to manage the pipeline, keep brokers well informed, and drive completion volumes.

“This move, along with other recent enhancements to our operational processes, will ensure that brokers can remain confident of top quality end-to-end service across the entire loan journey.”

Jon Smart and Lucy Bradban, real estate partners at Freeths LLP, will be leading its cross-office team.

Jon said the company was relishing the prospect of helping Allica in its next phase of expansion.

In May, the bank expanded its broker distribution team with three new BDMs and has increased the maximum loan sizes of its commercial and asset finance facilities to £5m and £500,000, respectively.

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