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Allica Bank has reached a £2 billion milestone of commercial mortgages offered to businesses introduced by commercial finance brokers since launching in March 2020. The lender has also expanded the criteria for its Recovery Loan Scheme (RLS) proposition for interest-only owner-occupied commercial mortgages.
The enhanced offering means it can now support newer businesses with only one year of trading accounts, experienced operators looking to open an additional site on a projection-led basis, and entrepreneurs with employed experience looking to buy a successful business in the same sector.
The bank has also expanded its healthcare offering to include children’s day nurseries, which it says is a growing area of the care market, with 90% of operators within Allica’s key established SME market. Nick Baker, chief commercial officer at Allica Bank said: “Brokers have and will always be a primary focal point for Allica ... I’d like to thank them for their unwavering support!”
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