Allica Bank launches limited-time asset finance rate reduction

Allica Bank has announced a limited-time 0.35% rate cut on asset finance for hard assets.

The reduced rate is the lowest Allica has offered in the past three years and is available on loans between £150,000 and £2.5 million. Applications for the rate will remain open until 31st October 2025.

This offer follows the recent launch of Allica's long-term sub hire product, allowing the sub hire of equipment for up to 36 months. The challenger, which has lent over £850 million in asset finance to established businesses across the UK, also expanded its refinance options earlier this year to support asset purchases, management buyouts, and working capital.

Brandon Hall (pictured), head of sales for asset finance at Allica Bank, said: “We’re always looking at how we can support brokers to deliver the best outcomes for established businesses. These businesses are the backbone of the UK economy, responsible for over a third of UK employment, and this rate reduction offers another highly competitive product to help them invest with confidence.

“This is also the lowest rate we’ve offered in three years - exactly what the market needs right now to keep deals moving.”