LOANS & FINANCE
Financial backing to nurture your ambitions
Your circumstances are unique and we’re dedicated to providing funding that suits your ambitions. Often, you’ll want to make the most of an immediate opportunity, which is why we provide same day1 decisions on loan and overdraft applications.
We provide a range of suitable banking products to support your growth and day-to-day operations, and approve eight out of ten loan and overdraft applications.2
We work closely with you whatever your funding need – whether it’s a new office building or the equipment that goes in it.
|Base Rate Loan||Fixed Rate Loan3||Commercial Fixed Rate Loan3||SME Fixed Rate Loan3|
|Interest Rate||Varies with Bank of England bank rate||Fixed rate for full term of the loan||Fixed rate for the full term of the loan||Fixed rate for 5 or 10 years, then variable for the remaining term if applicable.|
|Loan Term||1 to 25 years||1 to 10 years||1 to 25 years||5 to 25 years|
|Loan Amount||£1,000 - £50,000||£1,000 - £50,000||£50,001 - £500,000||£50,001 - £500,000|
|Arrangement Fee||Up to 1.5% of the loan amount|
Early repayment charge may be payable if a fixed rate loan is fully or partly repaid early.
Maximum break costs are defined at the outset of your loan, giving you certainty around the maximum costs involved should you decide to repay early during the fixed rate period.
To find out your tailored rate for any of our loans: base, fixed, commercial or SME…
Existing customers looking to borrow up to £10,000
For our loans up to £10,000 it is now quick and easy to apply. If approved, you’ll get a decision in minutes. Simply logon and click on ‘Business Loans up to £10,000’ in the right hand menu.
Looking to borrow over £10,000 or new customers
If you are looking to borrow over £10,000 or are a new customer complete our online enquiry form and we’ll contact you to discuss your business needs.
Alternatively, if you would prefer to talk to our business management team call us on 0800 022 4378 from 9am to 5pm Monday to Friday.
The full £25m of grant funding has now been successfully allocated through the Assisted Asset Purchase Scheme, consequently; this product is no longer available.
Asset finance is a way to purchase assets without taking out a conventional loan. It allows you to spread payments over an agreed term and so avoid making big one-off payments for the extra machinery or equipment your business might need to grow.
Our finance selector tool is a convenient way to help you decide which of our loans and finance options could be right for your business.
Any property given as security, which may include your home, may be repossessed if you do not keep up repayments on your mortgage or other debts secured on it.
All lending is subject to a satisfactory credit assessment and we will need your permission to carry out a credit check on you and your business.
You should not apply for an amount that you cannot comfortably afford to repay now and in the future to avoid the possibility of legal action.
1 Applicable for existing customers of 12 months or more: instant online decisions available on overdrafts; instant online approvals in principle for loans; and same day decisions available on loans; cards and overdrafts through telephone banking. Subject to status.
2 8 out of 10 relates to period April 2012 to November 2014.
3 There is always a possibility that interest rates may go down leaving a fixed rate loan at a higher level compared to a variable rate loan. However, if interest rates rise, a fixed rate loan will remain at the same level.
4 Capital repayment holidays available in certain circumstances only.
Calls may be monitored or recorded in case we need to check we have carried out your instructions correctly and to help improve our quality of service.
Lloyds Bank plc Registered Office: 25 Gresham Street, London EC2V 7HN. Registered in England and Wales no. 2065. Telephone: 020 7626 1500.
Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 119278.
We subscribe to The Lending Code; copies of the Code can be obtained from www.lendingstandardsboard.org.uk.
Lloyds Bank plc is covered by the Financial Services Compensation Scheme and the Financial Ombudsman Service. (Please note that due to the schemes’ eligibility criteria not all Lloyds Bank business customers will be covered by these schemes).