Allica Bank Invoice Finance
Allica Bank is a UK challenger bank focused on SME lending, offering invoice finance facilities from around £100,000. In October 2025 Allica acquired Kriya (formerly MarketFinance), significantly expanding its invoice finance and embedded lending capabilities. This positions Allica as a growing force in the SME finance market.
Allica Bank is a UK challenger bank focused on SME lending, offering invoice finance from around £100,000 with advance rates around 85% and service charges from 0.5%. It acquired Kriya in October 2025.
More detail + scope
Summary
Allica Bank is a UK challenger bank focused on SME lending, funding invoice finance facilities from around £100,000 with advance rates near 85% and service charges from 0.5%. In October 2025 it acquired Kriya (formerly MarketFinance), expanding its invoice finance and embedded lending capabilities and positioning Allica as a growing force in SME finance.
This page covers
Allica Bank invoice finance minimum facility, advance rate, pricing and the October 2025 Kriya acquisition
Not covered here
General invoice finance education (see /guides/), sector pages (see /industries/), the full provider directory (see /providers/)
Key Facts
When Allica Bank Invoice Finance Fits
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Established SMEs with £1m+ turnover seeking invoice finance from a bank-backed lender
Allica combines challenger bank flexibility with strong balance sheet backing. The Kriya acquisition brought proven tech-driven underwriting for businesses that fall between traditional bank and fintech offerings.
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Professional services firms (recruitment, IT contractors, consultancies) with £100k-£500k facility needs
Kriya's legacy focus on professional services means Allica now has deep sector experience in high-volume, lower-value invoicing common in these sectors.
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Businesses seeking invoice finance alongside other banking products (business accounts, term loans)
As a full-service SME bank, Allica can bundle invoice finance with deposit accounts and term lending, simplifying banking relationships for growing businesses.
When to Look Elsewhere
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Start-ups or businesses under £500k turnover needing facilities below £100k
Better fit: Kriya. Kriya (now Allica-owned but operating separately) typically offers lower minimums and faster tech-driven onboarding for smaller invoicing businesses.
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Businesses requiring specialist sector expertise (construction CIS, healthcare NHS invoicing)
Better fit: Sonovate. Sonovate specialises in complex payroll funding and sector-specific invoice finance structures that generalist banks typically avoid.
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Companies needing immediate same-day funding decisions
Better fit: Pulse Cashflow. Pulse offers decisions within hours via automated credit scoring. Bank underwriting processes, even at challengers like Allica, typically take several days for full facility approval.
How Allica Bank Invoice Finance Compares
| Provider | Type | Min facility | Fee from | Advance to | Speed |
|---|---|---|---|---|---|
| Kriya | both | £50k | 0.5% | 90% | 2-3 days |
| Secure Trust Bank | both | £100k | 0.4% | 85% | 5-7 days |
| IGF Invoice Finance | both | £50k | 0.35% | 90% | 3-5 days |
vs Kriya: Now Allica-owned but operates as a separate fintech brand with lower minimums and faster digital onboarding than parent bank.
vs Secure Trust Bank: Established specialist bank with 25+ years in invoice finance, longer track record than Allica but less investment in digital tooling.
vs IGF Invoice Finance: Independent broker-friendly lender with lower minimums and typically more flexible on credit quality than bank-owned facilities.
Worked Example
A Manchester IT recruitment agency with £1.2m turnover placing contract staff
Setting Up With Allica Bank Invoice Finance
- 1
Initial application and credit assessment
Submit online application with 12 months' trading history, debtor ledger, and management accounts. Allica's relationship team conducts credit review of your business and reviews your debtor book quality, typically taking 3-5 working days.
- 2
Facility structure and legal documentation
Once approved, Allica proposes facility terms including advance rate, fees, and any debtor concentration limits. Legal documentation follows, including a debenture over book debts. Budget 7-10 days for legal completion.
- 3
Onboarding and first drawdown
Upload approved invoices via Allica's online portal (enhanced by Kriya's technology post-acquisition). Funds typically advance within 24 hours of invoice verification. Allica assigns a dedicated relationship manager for ongoing support.
FAQs
How does the Kriya acquisition affect existing Allica invoice finance clients?
Allica continues operating its existing invoice finance book while Kriya runs as a separate brand targeting smaller facilities and faster digital onboarding. Existing Allica clients benefit from enhanced technology infrastructure and expanded sector expertise, particularly in professional services and recruitment. The two brands serve different market segments within the Allica Group structure.
What debtor concentration limits does Allica Bank typically impose?
Allica generally requires no single debtor to represent more than 25-30% of the outstanding debtor book for standard facilities. Businesses with highly concentrated customer bases may face lower advance rates or require personal guarantees. The bank reviews debtor concentration during initial underwriting and monitors it monthly, reflecting standard banking prudence around credit risk.
Can I use Allica invoice finance alongside other Allica banking products?
Yes, Allica positions itself as a relationship bank for SMEs. Invoice finance clients can access business current accounts, term loans, and commercial mortgages from the same provider. This integrated approach can simplify financial management and may improve overall pricing when multiple products are used, though each facility is underwritten separately on its own merits.
How quickly can Allica increase my facility limit as turnover grows?
Facility reviews typically occur annually or when you request an increase. For established clients with strong payment performance, increases up to 25% can often be approved within 2-3 weeks based on updated management accounts and debtor ledgers. Larger increases require full credit re-underwriting similar to a new application, taking 4-6 weeks. Allica's SME focus means they actively support growth rather than restricting ambitious businesses.
Our Verdict
Allica Bank is one to watch following its acquisition of Kriya. The combination of a well-funded challenger bank with Kriya's established invoice finance technology creates a compelling proposition for SMEs. The £100k entry point is accessible, and the bank's SME-first approach means you are unlikely to be treated as an afterthought.
Director, Market Invoice
Oliver leads Market Invoice's editorial and comparison research. With a background in UK commercial finance, he oversees provider analysis, rate verification, and industry reporting across all verticals.
Last reviewed: 8 April 2026