For healthcare operators, Allica is also extending maximum loan terms to up to 30 years for experienced operators and up to 20 years for first-time operators, in addition to broadening its Care Quality Commission evidence requirements.
The enhancements allow the bank to support brokers working with clients who have larger and more complex transactions, including acquisitions, portfolio expansion and longer-term projects.
Earlier this month, the bank reported a 23% rise in lending to £3.7bn, recording growth across its core lending products.
Nick Baker, chief commercial officer at Allica Bank, said: “Brokers play a crucial role in supporting the UK’s established businesses, and at Allica our focus is on strengthening that role by backing brokers with the tools, products and people they need to support their clients’ growth ambitions.
“These updates mark another positive step forward, enabling brokers to support more of their established business clients with funding that reflects both their potential and their plans for the future, while continuing to underpin jobs and communities across the UK.”
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