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Important information

Further information about our Business Rewards Account:

Eligibility criteria

Our Business Rewards Account is a current account designed for established businesses who:

  • are incorporated for a minimum of 12 months
  • keep a balance of £50,000 or more in their account
  • or have a loan product with us

See Key Product Information for further information.

Savings Pot

Rate includes standard rate of 3.58% AER, plus a 0.5% boost each month if you make 15 bank transfers the previous month, and a 0.5% boost for six months if you complete a successful switch with the Current Account Switch Service (CASS). Rates correct as of 11th February 2025. 'AER' stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.

Cashback

Cashback is variable based on eligibility and spend. See a full list of limits and fees here.

Eligibility criteria

To be eligible, your business must have two full years of financial accounts and be either a Limited Company or LLP registered at Companies House, or a partnership or sole trader that operates in England, Scotland or Wales.

Businesses can access a range of hard, medium and soft assets including manufacturing equipment, transportation, plant and machinery, materials handling equipment, textile equipment, robotics, medical equipment, scaffolding, telecoms and more.

Eligibility criteria

UK-registered limited companies, typically with two years of full financial accounts. Your business must be based in England, Scotland or Wales and trade on a business-to-business basis.

Eligibility criteria

Your business must have two full years of financial accounts and be either a Limited Company or LLP registered at Companies House, or a partnership or sole trader that operates in England, Scotland or Wales.

Businesses can include those trading from freehold/long leasehold property in England, Scotland and Wales e.g. offices (including professional practices), industrial units, mixed-use, warehouses, factories, retail, hotels, guest houses, restaurants, public houses, convenience stores and children’s day nurseries. Security will be required.

Eligibility criteria

Available for UK registered limited companies, LLPs, partnerships and sole traders in England, Scotland and Wales.
 

Unlock the tools your business needs to grow

Asset finance

Allica Bank Asset Finance can boost your business with up to £2,500,000 of straightforward and flexible finance. Speak to our expert business relationship management team today.

Enquire now Product guide (PDF)
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Borrow between £25k - £2.5m

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Fast decision-making

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Growth Guarantee Scheme available

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Relationship manager

What is asset finance and how do we do it better?

Asset finance lets your business purchase the latest equipment and tools it needs to drive productivity and expand. You pay a set amount each month to use the asset, rather than paying the full upfront cost. Then, when you’ve made the last repayment, it belongs to you. It can be a great way to purchase new equipment and keep a handle on your cashflow.

At Allica Bank Asset Finance, we use tailored expertise and modern technology to provide asset finance specifically designed to meet the needs of established businesses. This means:

  • Straightforward products
  • Fast decision-making
  • Easy access to real human support and expertise
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What types of asset finance can we provide?

  • Manufacturing equipment
  • Production equipment
  • Materials handling equipment
  • Transportation
  • Scaffolding
  • Plant and machinery
  • Agricultural equipment
  • Textile equipment
  • Medical equipment
  • Robotics
  • Telecoms – and more...

Hard, medium and soft asset finance

£25,000*
Min. loan
£2.5 million
Max. loan
100%
Maximum advance
7 years
Maximum term
£295
Documentation fee

*For sole traders and partnerships, the minimum loan size is £25,001

Available for UK-registered limited companies, LLPs, partnerships, and sole traders, typically with two years of full financial accounts, based in England, Scotland or Wales. Businesses can access a range of hard, medium and soft assets including manufacturing equipment, transportation, plant and machinery, materials handling equipment, textile equipment, robotics, medical equipment, scaffolding, telecoms and more.

Read our product guide for the full list of available assets or further detail on our fees here.

Tax incentives

‘Full expensing’

In the 2023 Budget, the government introduced a tax incentive to encourage businesses to invest in their plant and machinery.

Full expensing allows companies to write off the cost of investment in one go. For every pound a company invests, their taxes are cut by up to 25p. This includes assets bought using asset finance. Speak to an Allica Bank relationship manager to see how your business could benefit.

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Access to finance

Growth Guarantee Scheme

Allica Bank is approved to offer asset finance through the Growth Guarantee Scheme. It’s a government initiative designed to support access to finance for UK small and medium businesses as they look to invest and grow.

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We’re giving established businesses the banking they deserve

Transforming relationship banking with great rates, smart people and powerful technology. It’s a new take on an old idea – just like our orange hats.

Want to introduce your client?

With our intuitive Introducer Portal and access to our team of SME lending experts, brokers can expect clarity, consistency and collaboration from us every step of the way.

Enquire now

Speak to our team about how we could help your business with asset finance.

 

Please ensure you meet our eligibility criteria.

 
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