5 years ago

Allica Bank Seeks £100 Million to Support Underserved SME Market

  • Allica Bank, a UK-based business bank, is raising £100 million in funding to meet the growing demand for SME financing following the COVID-19 pandemic

  • The bank, which gained full UK banking authorization in 2019, has seen over £1 billion in business loan inquiries

  • The new funding will enable Allica to expand its lending operations and explore potential acquisitions in the non-bank lending sector.

      • ProblemFinancial Services

      "SMEs in the UK face a significant funding gap, particularly after the COVID-19 pandemic, as traditional lenders reduce their lending appetite."

      Solution

      "Allica Bank, a UK challenger bank, is addressing this funding gap by providing much-needed financing to SMEs, combining human relationships with digital banking solutions."

      Covered on