Monday, January 8, 2024
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Allica has further enhanced its Recovery Loan Scheme offering, and can now use the scheme to support businesses purchasing properties for investment purposes, with rates starting from 8.25% for fully commercial properties.
Commenting, the lender’s head of commercial mortgage sales for the South, Stephen Spinks, said: “Established businesses are such an important part of our local communities across the UK, and it is vital they can access the capital they need to invest and grow after so many challenging years. We hope these cuts in our rates will enable brokers to find a suitable lender for even more of their clients.”
The bank was recently revealed as the fastest-growing company in the UK, according to the Deloitte UK Fast 50 Index, with Allica also reporting that in 2023 alone it lent over £820 million to established businesses.
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