Alternatives to OakNorth
4 UK business loan alternatives to OakNorth, compared on product type, ticket band, rate, decision speed and eligibility.
OakNorth vs the 4 alternatives
| OakNorth | Allica Bank | Shawbrook Bank | Aldermore | Funding Circle | |
|---|---|---|---|---|---|
| Product | SME term loan + bridging | SME term loan + commercial mortgage | Term loans, asset finance, commercial property | Asset finance, invoice finance, commercial mortgages | Term loan |
| Ticket | £500k to £50m+ | £150k to £5m | £25k to £25m | £25k to £5m | £10k to £500k |
| Rate | Bespoke | From 7.99% APR | Bespoke | From 7.5% APR equivalent | 6.9% to 26.9% APR |
| Decision | 7 to 14 business days | 5 to 10 business days | 7 to 14 business days | 5 to 10 business days | 1 to 3 business days |
| Soft search | No | No | No | No | Yes |
| Rating | 4.2 | 4.4 | 4.0 | 4.1 | 4.3 |
Allica Bank
5 to 10 business days · From 7.99% APRAllica Bank is a PRA-regulated UK challenger bank founded 2019, focused on the £150k to £5m SME ticket band that mainstream high-street banks have abandoned. Rates start from 7.99% APR for SME term loans and commercial m
Shawbrook Bank
7 to 14 business days · BespokeUK specialist bank serving £100k-£25m SME and commercial property tickets. Strong on bespoke deals where mainstream high-street rules do not fit. Broker-distributed; not a self-serve experience.
Aldermore
5 to 10 business days · From 7.5% APR equivalentSpecialist UK SME challenger bank with strong asset finance, invoice finance and commercial mortgage lines. Owned by FirstRand. Established broker channel; not a self-serve fintech experience.
Funding Circle
1 to 3 business days · 6.9% to 26.9% APRFunding Circle is the largest UK SME term-loan platform, founded 2010, FCA regulated, with tickets from £10k to £500k and decisions in one to three business days. The published rate range (6.9% to 26.9% APR) is wide, so
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Get quotes →Last reviewed: 2026-04-26. Editorial by Oliver Mackman.