Lender review · SME term loan + bridging
OakNorth
- Reviewed April 2026
- Editor Oliver Mackman
- Companies House 08595042
- Methodology Public
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 strong, underwriting uses proprietary credit modelling, and decisions run 7 to 14 business days through a real banker, not a self-serve portal. Best fit: established Ltd companies with strong financials and a clear growth, acquisition or commercial real estate story. Companies House 08595042.
Director, BestBusinessLoans
Oliver leads BestBusinessLoans's editorial reviews and methodology. With a background in UK commercial finance, he oversees lender research, rate verification and review independence.
Last reviewed: 26 April 2026
At a glance
- Product
- SME term loan + bridging
- Ticket size
- £500k to £50m+
- Typical rate
- Bespoke
- Decision time
- 7 to 14 business days
- Soft search at quote
- No
- Limited companies only
- Yes
- FCA regulated
- Yes (check the FCA Register)
- Companies House
- 08595042
- Founded
- 2015
Scores against our methodology
- Rate transparency3/5
- Eligibility clarity4/5
- Decision speed3/5
- Decline handling4/5
How OakNorth works
OakNorth operates as a sme term loan + bridging provider in the UK SMB market. 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 strong, underwriting uses proprietary credit modelling, and decisions run 7 to 14 business days through a real banker, not a self-serve portal. Best fit: established Ltd companies with strong financials and a clear growth, acquisition or commercial real estate story. Companies House 08595042.
The product mechanic is straightforward in shape but the underwriting is sector-specific. Tickets sit in the £500k to £50m+ band, decisions land within 7 to 14 business days, and the published rate range is Bespoke. A hard search may apply at quote stage; ask before you submit if credit-file footprint matters to you. OakNorth is FCA regulated.
Where OakNorth fits best: £500k+ tickets, acquisition / asset finance, established ltd with strong financials. Where it does not fit: sub-£500k, self-serve applicants, newer businesses.
Pricing examples
Worked examples using OakNorth's published rate range (Bespoke). This lender prices by factor rate or bespoke quote, so we show the structure, not a worked APR.
| Ticket | Term | Estimated total cost | Approx monthly |
|---|---|---|---|
| £25,000 | 24 months | See lender quote | See lender quote |
| £50,000 | 36 months | See lender quote | See lender quote |
| £100,000 | 48 months | See lender quote | See lender quote |
Indicative only. Confirm on a OakNorth quote.
Eligibility
- Trading time: typically 12 to 24 months minimum for the cleanest pricing.
- Turnover floor: not always published. As a working figure, expect a £100k+ turnover requirement for term loans of £50k+. Smaller tickets and MCA structures have lower floors.
- Sector exclusions: Sub-£500k; Self-serve applicants; Newer businesses.
- Credit profile: Clean credit preferred; older satisfied items often acceptable.
- Company structure: Limited companies only.
- Best fit: £500k+ tickets; Acquisition / asset finance; Established Ltd with strong financials.
Pros
- + PRA-regulated UK bank.
- + Proprietary credit modelling, willing to underwrite cases mainstream banks refuse.
- + Significant facility size available.
- + Strong record on commercial real estate and acquisition finance.
Cons
- − Not self-serve; a real banker has to engage.
- − Headline rates not published.
- − Not interested below £500k.
Best for
- · £500k+ tickets
- · Acquisition / asset finance
- · Established Ltd with strong financials
Weak at
- · Sub-£500k
- · Self-serve applicants
- · Newer businesses
When to use OakNorth
Use OakNorth when
Your application matches the best-fit profile: £500k+ tickets, acquisition / asset finance, established ltd with strong financials. The published ticket range (£500k to £50m+) covers your ask, the decision speed (7 to 14 business days) fits your cash-gap timeline, and the rate range (Bespoke) is acceptable to you given your credit profile.
Do not use OakNorth when
Your profile sits in the weak-at list: sub-£500k, self-serve applicants, newer businesses. OakNorth will likely decline, and the decline itself can sit on broker records for 90 days. If you have any of these flags, route directly to a specialist (post-decline lender, MCA against card flow, asset-backed alternative) rather than using OakNorth as a screen.
FAQs
What is the minimum trading time for OakNorth?
OakNorth typically asks for 12 to 24 months of trading. Newer businesses can sometimes qualify against alternative underwriting (card flow for MCA, asset security for asset finance), but the cleanest pricing tends to require two full sets of accounts.
Does OakNorth require a personal guarantee?
Most UK SMB lenders require a personal guarantee from at least one director. OakNorth is no exception in the standard case. The few exceptions: asset-backed lending where the asset itself stands as security, and a small number of MCA structures where card flow is the underwriting basis. For sme term loan + bridging specifically, expect a PG to be requested.
How fast does OakNorth fund?
OakNorth quotes 7 to 14 business days for an underwriting decision. Funding to bank account typically follows within one to three working days of acceptance, subject to KYC, signed documents, and (where applicable) registration of any debenture or charge.
What rate should I expect from OakNorth?
OakNorth's published range is Bespoke. The headline number is rarely the offered number. Rate transparency on this lender scores 3/5 in our methodology. Expect the cleaner end of the band only if you have 2+ years of trading, clean credit, and turnover comfortably above the lender's stated floor.
What happens if OakNorth declines me?
If OakNorth declines, you have three realistic next steps. First, ask for the decline reason in writing, most reputable UK lenders will tell you. Second, route the application to a specialist post-decline lender (Bizcap, JPM Capital, Bolton Finance) where credit issues are the constraint, or to an asset-backed alternative where security is available. Third, use a broker panel to fan the application across the lenders most likely to accept your specific decline reason. OakNorth scores 4/5 on decline handling in our methodology.
Where to apply
Apply directly via www.oaknorth.co.uk, or use our free quote form to be matched across the UK broker panel most likely to approve your specific profile, not just OakNorth.
Specialty alternatives
See all lender reviews for alternatives.
OakNorth compared head-to-head
Side-by-side breakdowns of rate, ticket band, decision speed, eligibility and best-fit for UK SMEs.
Reviewed by Oliver Mackman, Director. Last reviewed: 26 April 2026. Lender website: www.oaknorth.co.uk.