Aldermore Asset Finance Review 2026: Published Rates and Lower Minimums Than Most Banks

About Aldermore Bank plc

Aldermore Bank plc (FCA FRN 204503) is a UK challenger bank founded in 2009 and acquired by South Africa's FirstRand Group in 2018. It holds a full UK banking licence and is regulated by both the FCA and the Prudential Regulation Authority. The bank operates across savings, mortgages, invoice finance and asset finance, with the asset finance division serving UK SMEs across a broad range of asset classes.

A minimum loan of £5,000 makes Aldermore one of the most accessible bank lenders in the UK asset finance market. This threshold is significantly lower than Shawbrook (£25,000) or Close Brothers (£10,000) and puts Aldermore in competition with specialist non-bank lenders for smaller ticket transactions. The maximum facility of £1,000,000 per transaction targets the core SME market.

Asset class coverage spans vehicles, plant and machinery, technology, catering equipment and other business-use assets. The inclusion of catering equipment and technology alongside hard assets such as plant and vehicles gives Aldermore a broader coverage profile than pure hard-asset specialists like Portman. The lender assesses each asset on its identifiability, business use and recoverable value.

Aldermore operates a digital-first application process and publishes headline rate ranges, providing more pricing transparency than many competitors. This is a meaningful differentiator in a market where rates are often only available after a credit search. Published indicative rates allow businesses to assess approximate affordability before committing to a formal application.

Credit decisions are typically issued within 24 to 48 hours. Applications can be submitted directly via the Aldermore website or through approved broker introducers. The bank also offers invoice finance products, which means businesses with both asset and working capital needs can consolidate their lending relationship with a single institution.

FOS complaint data for Aldermore shows complaint volumes consistent with a mid-sized challenger bank. No FCA enforcement actions relevant to asset finance are recorded on the FCA register as at the date of this review.

Eligibility criteria

• UK-registered business
• Minimum 12 months trading for standard products
• Minimum loan £5,000, maximum £1,000,000
• Range of asset types accepted including soft assets
• Director personal guarantee required
• Digital application available direct or via broker

Who is Aldermore Bank plc best suited to?

Aldermore is well suited to UK SMEs across a wide range of sectors that need asset finance from £5,000 to £1,000,000 and want the security of an FCA and PRA regulated bank lender. It is particularly competitive for businesses that value pricing transparency, digital application processes, and the option to consolidate asset finance with invoice finance at the same institution.

Who should look elsewhere?

Aldermore is not suited to businesses requiring facilities above £1,000,000, or those needing sector-specialist underwriting for complex assets in agriculture or print. Businesses seeking same-day decisions on very small tickets may find Portman or Time Finance faster.

How Aldermore Bank plc compares to alternatives

Aldermore sits between Shawbrook and non-bank specialists in terms of minimum loan and maximum exposure. Against Shawbrook, Aldermore has a lower minimum (£5,000 vs £25,000) but a much lower maximum (£1,000,000 vs £5,000,000). Against Portman, Aldermore is a bank lender with published rates and PRA regulation. Versus Close Brothers, Aldermore is faster and has a lower minimum but lacks the sector-specialist depth and higher ceiling.

Frequently asked questions

Is Aldermore Asset Finance FCA authorised?

Yes. Aldermore Bank plc is FCA authorised under FRN 204503 and is also regulated by the Prudential Regulation Authority (PRA) as a UK deposit-taking bank. The bank is part of FirstRand Group. Asset finance products are regulated credit agreements under the Consumer Credit Act 1974 where applicable.

What assets does Aldermore finance?

Aldermore Asset Finance covers vehicles, plant and machinery, technology equipment, catering equipment and a range of other business-use assets. Both hard assets and selected soft assets are eligible. The asset must be for primary business use, identifiable, and must carry recoverable value. Pure software licences or intangible assets are not eligible.

Does Aldermore publish its asset finance rates?

Aldermore publishes indicative headline rate ranges for asset finance products, which provides more pricing transparency than many specialist lenders. Published rates are indicative only; the actual rate offered will depend on the borrower's credit profile, asset type, loan term and loan-to-value ratio. A formal credit search is required for a firm offer.

What is the maximum loan at Aldermore Asset Finance?

The maximum single-transaction facility at Aldermore is £1,000,000. The minimum is £5,000. Businesses requiring facilities above £1,000,000 should consider Shawbrook Asset Finance (up to £5,000,000) or Close Brothers Asset Finance (up to £10,000,000).

Can I get both asset finance and invoice finance from Aldermore?

Yes. Aldermore Bank offers both asset finance and invoice finance products, allowing businesses with combined asset and working capital needs to consolidate lending with a single lender. This can simplify the lending relationship and may reduce the number of personal guarantees or security arrangements required.