Allica Bank

Allica Bank aims to make £1bn in committed loan offers in 2022

Allica Bank has pledged to make over £1bn in committed loan offers in 2022, doubling last year’s target.

The new commitment comes during a period of accelerated growth, as the bank scales to become a major force in serving British businesses through delivering the funding, technology and expertise they need.

In addition, the bank has increased its maximum customer exposure (maximum loan available for individual customers) for asset finance and the care home sector to £1m and £10m, respectively, to support more businesses and care home operators.

This follows the bank’s recent successful performance, which has seen it break its monthly asset finance lending record three months in a row from January to March.

Richard Davies, CEO at Allica Bank, said: “Allica exists to support Britain’s established small- and medium-sized businesses, which have been chronically underserved by the banking sector. 

“We are therefore very proud that our bank’s strong performance has enabled us to commit to making £1bn in committed loan offers to these firms in 2022. 

“This is a pivotal moment in Allica’s journey towards becoming the lender of choice for British businesses.” 

Nick Baker, CCO at Allica Bank (pictured above), commented: “We pride ourselves in listening to our broker community and taking direct action as a result. 

“We heard that both SME care home operators and brokers are looking for a lender which can support not just the first acquisition, but subsequent acquisitions too. 

“We hope that by increasing our exposure to £10m, we will support many more operators to strengthen and scale their businesses. 

“Our asset finance proposition has come on in leaps and bounds since its launch in 2021 — by doubling our maximum asset finance customer exposure to £1m, we will be able to support more SMEs to finance their ambitions as they look to bounce back from the pandemic.

“Allica will also be able to play a greater part in supporting businesses towards their sustainability and net-zero goals. 

“In 2022, we will continue to develop our products and services, as we continue on our mission to reimagine relationship banking for SMEs.”

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