Why get a business loan from us?

Flexible amounts

Business loans from £1,000.

Repayment terms to suit your goals

Choose a repayment term from 1 year, depending on your business needs.

Fast access to money

Access the loan within 48 hours of your application being accepted.

Fixed Rate 11.2% APR representative* on loans from £1,000 to £25,000

APR for loans above £25,000 provided on application. Representative APR only – actual offered APR may differ.

  • 11.2% APR (fixed) representative based on an assumed unsecured loan amount of £8,000 with 60 monthly repayments of £172.55 at an annual interest rate of 10.65% (fixed). Total amount payable £10,353.00.

    APR means annual percentage rate of interest charged against your loan which is a combination of Fixed Rate Cost of Funds (fixed) and an interest margin which is fixed for the term of the loan.

    The representative APR is an illustration of the highest rate that we expect to offer up to 51% of successful applicants.

    Applicants may receive a different rate of interest based on their individual circumstances.

    Our representative APR applies to all unsecured loans with a borrowing amount of up to £25,000 and for businesses with a turnover of up to £25 million. This figure is not necessarily the rate you will be receiving and is for illustrative purposes only.

Our business loans

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Loans for small businesses

Take out a secured or unsecured loan from £1,000 to £50,000 if your turnover is less than £3 million.

Small business loans
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Commercial mortgages

Upgrade or expand to new business premises with a commercial mortgage.

Commercial mortgages
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Government-backed lending

Find out more about government-backed business loans.

Government-backed loans

Get a Business Loan quote for up to £25,000

Get a Business Loan quote for up to £25,000

See how likely you are to get a Business Loan without affecting your credit rating. View indicative interest rates and repayment details. 99% of customers who used this tool and opened the same product received an offer rate that was the same, better or no more than 10% above their indicative quote. 

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Financing sustainable business

Financing sustainable business

Access discounted lending for green purposes through Lloyds Bank’s Clean Growth Financing Initiative.

Clean Growth Financing Initiative

Types of business loans

If you’re thinking about a loan, understanding the different options available can help you decide if it’s the right choice for your business.

Fixed rate business loans

When you take out a fixed rate business loan, the interest rate doesn’t change during the fixed rate period. This means you always know how much you have to repay during this time.

Variable rate business loans

Available from £25,001, the interest rate on a variable rate business loan can change from month to month. This is because it usually tracks the Bank of England Bank Rate. If the Bank of England Bank Rate goes up or down, so will the amount of interest you pay and your loan repayments.

 

Business lending application checklist

If you’d like to borrow from us, we’ll need some information from you first. It means we can help you choose a funding option that suits your needs.

Use this checklist to help you prepare for our questions ahead of time. The information that we request will vary depending on your circumstances.

Watch the video

Is your business eligible?

To apply for a business loan from us, you must:

  • Be at least 18 years old
  • Want to borrow at least £1,000
  • Need the money for business, not personal reasons
  • Be a sole trader, partner or director and authorised to borrow on behalf of your business.

What you’ll need to apply

When you apply for a business loan, we may ask you for: 

  • Details of any other existing finance.
  • Evidence of assets you could use as security, including the estimated value of your business.
  • A profile of your business including the experience and track record of its owners and management team.
  • Permission to carry out a credit check.

Depending on the specific details of the loan you apply for, we may also ask you for:

  • Details of business assets and liabilities
  • Historic financial accounts and management accounts
  • A Guarantee if you’re a Limited Company or Limited Liability Partnership
  • A business plan covering the borrowing term
  • Cashflow forecast covering the borrowing term.

Existing Lloyds Bank customers

Enquire about a business loan

To point you in the right direction, we need to ask you a couple of questions.

To enquire about a loan, please call 0345 072 5555.

Lines open 8am to 6pm Monday to Friday, except on public holidays.

New to Lloyds Bank?

Get a quote

New and existing customers, see how likely you are to get a business loan up to £25,000 without affecting your credit rating.

View indicative interest rates and repayment details. 99% of customers who used this tool and opened the same product received an offer rate that was the same, better or no more than 10% above their indicative quote.

Get a quote

Or you can call us:

If your annual turnover is less than £3 million, call 0345 072 5555.

If your turnover is over £3 million, call 0800 022 4378.

Lines are open 8am to 6pm Monday to Friday, except public holidays.

FAQs

  • Yes, we are lending to businesses of all sizes. We are a responsible lender so not all loan and overdraft applications will be successful. However, we may be able to support your business with other finance options and guidance to other sources of funding or government-backed schemes.

  • Security for loans isn’t always necessary or needed. We'll only seek security where appropriate, on a case-by-case basis, reflecting risk and type of facility. We can also support your ambitions through government-led schemes, which are suitable for a range of different circumstances.

  • It depends on the circumstances of each business. We review each business on a case-by-case basis and assess their overall risk profile. We may be able to offer funding with certain terms or alternative sources of finance. The key thing is not to be deterred from trying if that’s what your business needs to grow.

  • During the application process, we'll request your permission to carry out a credit assessment. Unless your credit history shows multiple applications, your credit rating shouldn’t significantly deteriorate. Lenders are likely to see occasional enquiries as part of a typical business process. If we do reject your application, we can discuss alternative finance options or refer you to our appeals process.

  • Yes, you can repay your variable rate loan early and you won’t have to pay an early repayment fee. If you have a fixed rate loan, you may have to pay an additional fee if you pay off the balance before the end of the term.

  • When you start repaying your business loan depends on what you agreed with us. You’re usually expected to make monthly repayments on a regular basis until the loan is paid off. 

  • You can apply for a Lloyds Bank Business Loan without having a Business Current Account with us. If your application is successful and you don’t want to open a Business Current Account with us, we’ll open a Loan Servicing Account for you, which has no day-to-day fees or charges, until you’ve repaid your loan. You’ll be given this choice during your application.

    We offer the government-backed Recovery Loan Scheme to existing Lloyds Bank business customers and some businesses that don’t bank with us. If you have a primary business banking relationship with another provider, please speak to them for support first. 

How Asset Finance can help you grow

We explain what Asset Finance is, and how you can use it to finance vehicles or equipment that can help grow your operations.

Read the guide
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Cavan Bakery’s fortune’s rise with new premises

Find out how family-run Cavan Bakery has significantly expanded their operations with the support of a £1.5m funding package.

Read Cavan Bakery’s story

Other ways to finance your business

Other ways to finance your business

Loans are only one way to finance your business. Depending on your circumstances and goals, another type of borrowing could be more suitable. To explore your options, check out the other types of finance we offer – from business overdrafts to asset finance.

More ways to borrow

Build your financial resilience

Build your financial resilience

All UK businesses are facing challenges right now. So we’re offering guidance and support to help businesses like yours manage the impact of rising costs, supply-chain issues and economic uncertainty. 

Get help

See how we compare in the market

Review other sources of business finance and compare products and services.

Alternative Business Funding

Funding Options

Funding Xchange

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Business Finance Guide

Bank Rate calculator

Bank Rate calculator

Find out how changes to the Bank of England Bank Rate could affect your monthly repayments.

Use our calculator

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. 

All lending is subject to status. Security may be required.

Making sure you get a fair deal

We want you to find a product that's right for your circumstances, which is why we adhere to the Standards of Lending Practice, which are monitored and enforced by the Lending Standards Board.

To find out more you can read the statement of responsibilities, which details what's expected of us, the lender and you the borrower.

Important Legal Information

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.

The products and services outlined on this site may be offered by legal entities from across Lloyds Banking Group, including Lloyds Bank plc and Lloyds Bank Corporate Markets plc. Lloyds Bank plc and Lloyds Bank Corporate Markets plc are separate legal entities within the Lloyds Banking Group.

Lloyds Bank is a trading name of Lloyds Bank plc, Bank of Scotland plc and Lloyds Bank Corporate Markets plc. Lloyds Bank plc. Registered Office: 25 Gresham Street, London EC2V 7HN. Registered in England and Wales no.2065. Bank of Scotland plc. Registered Office: The Mound, Edinburgh EH1 1YZ. Registered in Scotland no. SC327000. Lloyds Bank Corporate Markets plc. Registered office 25 Gresham Street, London EC2V 7HN. Registered in England and Wales no. 10399850. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 119278, 169628 and 763256 respectively.

Eligible deposits with us are protected by the Financial Services Compensation Scheme (FSCS). We are covered by the Financial Ombudsman Service (FOS). Please note that due to FSCS and FOS eligibility criteria not all business customers will be covered.