Allica Bank vs Close Brothers: Which UK Business Loan Provider in 2026?
Allica Bank edges this matchup in our 2026 UK review, scoring 4.4 of 5 against Close Brothers on 4.2. Allica Bank runs a sme term loan + commercial mortgage at From 7.99% APR with decisions in 5 to 10 business days; Close Brothers runs a asset finance, invoice finance, commercial loans at Bespoke, quoted at offer. That said, the headline rating is not the whole answer: Close Brothers beats Allica Bank for established smes needing asset or invoice finance. Read the side-by-side, then jump to the "when X wins" sections for the buyer-fit logic.
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: 8 May 2026
Side-by-side
| Allica Bank | Close Brothers | |
|---|---|---|
| Product type | SME term loan + commercial mortgage | Asset finance, invoice finance, commercial loans |
| Founded | 2019 | 1878 |
| Ticket range | £150k to £5m | £25k to £25m+ |
| Typical rate | From 7.99% APR | Bespoke, quoted at offer |
| Decision time | 5 to 10 business days | 5 to 14 business days |
| Soft search at quote | No (hard search) | No (hard search) |
| Limited companies only | Yes | No |
| FCA regulated | Yes | Yes |
| Companies House | 11470391 | 00195626 |
| Best for | Established Ltd companies; £250k to £5m tickets; Asset-backed lending | Established SMEs needing asset or invoice finance; Print, transport, manufacturing, motor trade; Broker-introduced deals |
| Overall rating | 4.4 / 5 | 4.2 / 5 |
| Last reviewed | 2026-04-26 | 2026-05-08 |
When Allica Bank wins
- Genuine PRA-regulated bank; FSCS deposit protection on linked accounts.
- Rate transparency among the best on the market.
- Strong for £250k+ tickets.
- Real underwriting human attached to the case.
Best for
Established Ltd companies, £250k to £5m tickets, Asset-backed lending.
Watch outs
- Slower than fintech alternatives.
- Hard credit search at full application.
- Below £150k they will not engage.
When Close Brothers wins
- Genuine UK merchant bank with 145+ years of trading history.
- Multiple product lines under one underwriter (asset, invoice, commercial loans).
- Strong sector specialisms in print, transport, manufacturing and motor trade.
- PRA-regulated; FSCS deposit protection on linked savings products.
Best for
Established SMEs needing asset or invoice finance, Print, transport, manufacturing, motor trade, Broker-introduced deals.
Watch outs
- Broker-distributed, not self-serve.
- Headline rates not published; quoted at offer.
- Slower than fintech alternatives.
FAQ
Allica Bank or Close Brothers: which is the better UK business loan in 2026?
Allica Bank scores higher overall in our 2026 review at 4.4 of 5 versus 4.2 for Close Brothers. That said, the right answer depends on what you trade and what you need. Allica Bank is the stronger pick for established ltd companies, while Close Brothers is the stronger pick for established smes needing asset or invoice finance. If your business sits inside one of those use cases, ignore the headline rating and pick for fit.
What rates and ticket bands do Allica Bank and Close Brothers offer?
Allica Bank runs a sme term loan + commercial mortgage with tickets of £150k to £5m at From 7.99% APR. Close Brothers runs a asset finance, invoice finance, commercial loans with tickets of £25k to £25m+ at Bespoke, quoted at offer. Decision time on Allica Bank is 5 to 10 business days; on Close Brothers it is 5 to 14 business days. Headline rates rarely match the offered rate, so verify on the lender site before committing, and assume bespoke pricing above £100k where the data allows it.
Eligibility: Allica Bank vs Close Brothers, who qualifies?
Allica Bank is a hard-search lender (footprint visible to other credit checkers) and lends only to UK limited companies. Close Brothers is hard-search at quote and accepts sole traders and partnerships as well as Ltd companies. Allica Bank is FCA regulated; Close Brothers is FCA regulated.
Which is the wrong answer for what?
Allica Bank is the wrong answer for sub-£150k tickets. Close Brothers is the wrong answer for self-serve sub-£25k. If either of those describes your business, look at the side-by-side table for the alternative, or get a quote from our UK lender panel and we will surface the right shortlist.
Can BestBusinessLoans help me choose between Allica Bank and Close Brothers?
Yes. Our reviews are editorial; we run a UK lender panel via our /get-quotes/ form that includes both. Tell us monthly turnover, sector and what you need the money for. We match you against the lenders most likely to approve and beat your current cost, then route the application without affecting your credit file at quote stage.
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Get quotes →Reviewed by Oliver Mackman, Director. Last reviewed: 2026-05-08. Editorial by Best Business Loans Ltd (16833937).