Alternatives to OakNorth
4 UK business loan alternatives to OakNorth, compared on product type, ticket band, rate, decision speed and eligibility.
OakNorth vs the 4 alternatives
| OakNorth | Allica Bank | Shawbrook Bank | Aldermore | Funding Circle | |
|---|---|---|---|---|---|
| Product | SME term loan + bridging | SME term loan + commercial mortgage | Term loans, asset finance, commercial property | Asset finance, invoice finance, commercial mortgages | Term loan |
| Ticket | £500k to £50m+ | £150k to £5m | £25k to £25m | £25k to £5m | £10k to £500k |
| Rate | Bespoke | From 7.99% APR | Bespoke | From 7.5% APR equivalent | 6.9% to 26.9% APR |
| Decision | 7 to 14 business days | 5 to 10 business days | 7 to 14 business days | 5 to 10 business days | 1 to 3 business days |
| Soft search | No | No | No | No | Yes |
| Rating | 4.2 | 4.4 | 4.0 | 4.1 | 4.3 |
Allica Bank
5 to 10 business days · From 7.99% APRAllica 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
Shawbrook Bank
7 to 14 business days · BespokeUK specialist bank serving £100k-£25m SME and commercial property tickets. Strong on bespoke deals where mainstream high-street rules do not fit. Broker-distributed; not a self-serve experience.
Aldermore
5 to 10 business days · From 7.5% APR equivalentSpecialist UK SME challenger bank with strong asset finance, invoice finance and commercial mortgage lines. Owned by FirstRand. Established broker channel; not a self-serve fintech experience.
Funding Circle
1 to 3 business days · 6.9% to 26.9% APRFunding Circle is the largest UK SME term-loan platform, founded 2010, FCA regulated, with tickets from £10k to £500k and decisions in one to three business days. The published rate range (6.9% to 26.9% APR) is wide, so
Frequently asked questions
What are the main alternatives to OakNorth?
The closest UK alternatives are Allica Bank, Shawbrook Bank, Aldermore and Funding Circle. 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 OakNorth compare on ticket size and rate?
OakNorth offers sme term loan + bridging from £500k to £50m+ at a typical Bespoke. 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 OakNorth make a decision?
OakNorth typically reaches a decision in 7 to 14 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 OakNorth do a soft-search quote?
OakNorth does not offer a soft-search quote at the eligibility stage. Among the alternatives, Funding Circle offer a soft-search quote.
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Get quotes →Last reviewed: 2026-04-26. Editorial by Oliver Mackman.