"Our current lending levels show that there is still huge demand in the market from SMEs and that’s why we’ve been dramatically increasing lending capacity"
It has now ramped up its operational capacity to help support as many brokers and businesses as possible, as the country starts a new period of lockdown.
Allica has increased its lending capacity to be able to support £100 million in lending over the next quarter. To ensure the demand can be met with a smooth application process, the bank has quadrupled both its underwriting headcount and the number of lending support officers it employs since June 2020 and has also increased its number of customer service advisers by 25% over the same period.
Following feedback from brokers, Allica Bank has also made a number of changes to its Introducer Portal to make it even clearer and more intuitive for brokers to use.
The bank has also pledged that for every full application made during the lockdown, the bank will donate £100 to NHS charities.
Nick Baker, head of intermediaries at Allica Bank, commented: “The support available for our broker partners seeking funding for small businesses, outside of Covid loan schemes, has fallen drastically this year and looks set to drop further. Our message to the broker community is simple – we are here to support you and are on hand to fill the significant funding gap that has emerged.
“Our current lending levels show that there is still huge demand in the market from SMEs and that’s why we’ve been dramatically increasing lending capacity and working closely with brokers to ensure that this funding is reaching the businesses that need it. We’ve also raised our headcount significantly, to ensure that we can continue to deliver swift lending decisions which are made on clear and consistent criteria.
“Allica is very much open for business and in a strong position to continue to work collaboratively with brokers and SMEs to ensure they get the support they require. “
