Alternatives to Funding Circle

4 UK business loan alternatives to Funding Circle, compared on product type, ticket band, rate, decision speed and eligibility.

Funding Circle vs the 4 alternatives

Funding Circle compared with 4 alternatives, last reviewed 2026-04-26
	Funding Circle	iwoca	Allica Bank	Fleximize	OakNorth
Product	Term loan	Flexi-loan / line of credit	SME term loan + commercial mortgage	Term loan with flex features	SME term loan + bridging
Ticket	£10k to £500k	£1k to £500k	£150k to £5m	£5k to £500k	£500k to £50m+
Rate	6.9% to 26.9% APR	From 2% per month	From 7.99% APR	From 0.9% per month	Bespoke
Decision	1 to 3 business days	Same day to 24 hours	5 to 10 business days	24 to 48 hours	7 to 14 business days
Soft search	Yes	Yes	No	Yes	No
Rating	4.3	4.4	4.4	4.0	4.2

iwoca

Same day to 24 hours · From 2% per month

iwoca is a UK flexi-loan and line-of-credit provider founded 2011, FCA regulated, tickets £1k to £500k with same-day to 24-hour decisions. The draw-as-you-go structure makes iwoca the best mainstream option for working c

Best for: Working capital and cash-flow gaps, Newer Ltd companies (12 months+).

Allica Bank

5 to 10 business days · From 7.99% APR

Allica Bank is a PRA-regulated UK challenger bank founded 2019, focused on the £150k to £5m SME ticket band that mainstream high-street banks have abandoned. Rates start from 7.99% APR for SME term loans and commercial m

Best for: Established Ltd companies, £250k to £5m tickets.

Fleximize

24 to 48 hours · From 0.9% per month

Direct lender with flex features (top-ups, payment holidays, reduced repayments during slow months). Underwriting more accommodating than mainstream term lenders for sub-2-year trading. Per-month rate hides effective APR

Best for: Seasonal businesses needing payment flex, 12 to 24 month-trading Ltd companies.

OakNorth

7 to 14 business days · Bespoke

OakNorth Bank is a PRA-regulated UK bank founded 2015 that lends to established SMEs at the £500k to £50m+ ticket band, including bespoke commercial term loans, acquisition finance and bridging. Pricing is bespoke and st

Best for: £500k+ tickets, Acquisition / asset finance.

Frequently asked questions

What are the main alternatives to Funding Circle?

The closest UK alternatives are iwoca, Allica Bank, Fleximize and OakNorth. Each is compared above on product type, ticket band, typical rate, decision speed and eligibility so you can match a lender to your deal size and credit profile.

How does Funding Circle compare on ticket size and rate?

Funding Circle offers term loan from £10k to £500k at a typical 6.9% to 26.9% APR. The alternatives in the table span different ticket bands and rate ranges, so the right fit depends on how much you need to borrow and your trading profile.

How quickly does Funding Circle make a decision?

Funding Circle typically reaches a decision in 1 to 3 business days. Decision times for the alternatives are listed in the comparison table; faster is not always cheaper, so weigh speed against rate and ticket fit.

Does Funding Circle do a soft-search quote?

Funding Circle runs a soft-search quote, so checking eligibility leaves no mark on your credit file. Among the alternatives, iwoca, Fleximize offer a soft-search quote.

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Last reviewed: 2026-04-26. Editorial by Oliver Mackman.