Allica Bank has expanded its soft asset finance services, offering brokers and clients better access to financing for non-standard assets like restaurant fit-outs and park homes. This move follows a survey indicating a demand for more flexible funding options for mature businesses. The bank also reduced rates for hard assets over £150,000 until October 2025 to support larger investments.

The new soft asset finance options aim to assist established businesses in seizing growth opportunities with confidence. Allica Bank’s sales head, Brandon Hall, emphasized the importance of listening to brokers to understand their clients’ needs. The bank aims to address the challenge business owners face in obtaining affordable financing due to low lending rates in the UK compared to other G7 countries.

In addition to enhancing its soft asset finance offerings, Allica Bank recently entered a sponsorship deal with teenage racing driver Daniella Sutton. The partnership positions the bank as Sutton’s official banking partner until the end of 2026, supporting her career goals in motorsport. This strategic move aligns with the bank’s commitment to empowering individuals and businesses through financial support and partnerships.

Read more at Yahoo Finance: Allica Bank expands soft asset finance options for brokers and clients