Allica Bank expands broker distribution team and increases commercial mortgage and asset finance maximum loan size

Allica Bank has appointed three Business Development Managers to further drive its broker distribution channel.

The appointments co-incide with a decision to further increase its commercial mortgage maximum loan size from £3 million to £5 million following feedback and requests from brokers. Allica’s maximum asset finance loan has also been increased from £250,000 to £500,000. The bank says it has a joint mission with brokers to help more SMEs gain access to the finance they need to grow, and this is part of an ongoing journey to expand its broker operations in the UK.

Having been in the banking and finance sector for 14 years, Arshad Miah joins Allica to manage its asset finance broker relationships in the Midlands and East Anglia regions. With recent experience of a successful asset finance launch, he says he was attracted to Allica Bank because it has created a niche in the market: “As a technology-driven, but also relationship-focused SME bank, Allica is re-defining the future of banking for businesses and for brokers,” he explains.

“Asset Finance is an invaluable offering to SMEs,” he continues, “enabling them to acquire business critical assets whilst spreading the cost over a fixed term – it helps them to grow, expand and stay ahead of their competition. The Government’s recent super deduction tax break announcement makes this form of finance further appealing to SMEs – allowing them to protect profits when investing in their business’ assets.”

Ben Green has worked with SMEs for the last seven years, both in banking roles and as a broker. He will be focused on supporting commercial mortgage brokers and their clients in the West Midlands. He says his experience as a broker will help him to deliver what brokers want and need: “Speed, honesty and communication are key. I look forward to building strong relationships with Allica’s existing broker network as well as bringing new relationships into play.”

Ben says he was impressed to see that Allica won in the Commercial Mortgage Lender of the Year and Business Relationship Manager categories at last year’s NACFB awards: “That achievement so early in its life, as well as huge advocacy from the brokers I spoke to about Allica’s common-sense approach to underwriting and continual support to SMEs throughout the pandemic, make this role a very exciting opportunity,” he adds.

Allica’s new Central Business Development Manager, Sam Roberts, will be focused on building an active and engaged panel of brokers in the asset finance market. He says his five years’ financial services experience specialising in haulage, logistics and construction will help to build Allica’s asset finance offering:

“I joined Allica because I was excited by the challenge of building its asset finance division. Also I really believe in the brand and they drive to support SMEs, and have been impressed by how well it performed during the pandemic.”

Nick Baker, Managing Director - Intermediaries at Allica Bank, says the investment in two new BDMs is part of a strategy to ensure it provides the very highest levels of service to its broker partners:

“Arshad, Ben and Sam have the experience and understanding to know what solutions and approaches make brokers' lives easier,” he says. “I’m delighted to welcome them to our fast-growing team.”

Commenting on the increase in its maximum commercial mortgage and asset finance loans, Nick adds: “Our recent quarterly broker survey showed this is what our broker panel wanted. I am pleased that, thanks to the fantastic support of our broker panel in helping us to grow our loan book, we were able to deliver and will hopefully be able to support even more of their clients.”