Business Loans

Whether you’re looking to expand, invest in new equipment, or borrow to manage your cash flow - our Business Loans can help you thrive.

Find out about the Bank of England Bank Rate, and how a change may affect your borrowing.

Pay As You Grow – supporting existing Bounce Back Loan customers

Find out how Pay As You Grow options could give you more time and flexibility to pay back your loan should you need it.

Review your options

Borrow an amount that suits you

Choose either a fixed or variable interest rate

Flexible repayment terms between 1-25 years

Small Business Loans up to £25,000

9.3% APR (variable or fixed) representative*

Base Rate (variable) from 9.8% APR** and Fixed Rate from 9.3% APR

  • Existing Lloyds Bank customers can log on and apply for a loan in minutes 
  • Secured and unsecured loans available1
  • Receive funds within 48 hours of being accepted
Loans up to £25,000

Larger Business Loans above £25,000

Personalised quotation discussed after enquiry

  • Simple enquiry
  • Flexible repayment terms
  • Recovery Loan Scheme available 
Loans above £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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Recovery Loan Scheme

The Recovery Loan Scheme (RLS) launched on 6 April 2021 and supports access to finance for UK businesses as they recover and grow following the Covid-19 pandemic.

The Recovery Loan Scheme will close on 30th June and final offers under the scheme must be made by this date. If you would like to apply for the Recovery Loan Scheme please submit your application by 27th May 2022. We will be unable to accept applications after this date. We cannot guarantee that all eligible applications received will be offered by 30th June 2022.

  • Borrow between £25,001 and £2 million (maximum amount per Group is limited to £6 million)
  • Choose a repayment term between 1-6 years
  • The scheme is available to businesses with an annual turnover of less than £45 million
  • The scheme is supported by a 70% guarantee provided by the government to the bank
  • There is no interest-free period or Business Interruption Payment (BIP) provided by the government
  • Subject to full credit assessment. You remain 100% liable for repayment of the loan.

Representative example

*9.3% APR (variable or fixed) representative based on an assumed unsecured loan amount of £8,000 with 60 monthly repayments of £165.68 at an annual interest rate of 8.90% (fixed). Total amount payable £9,940.80.

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

**Applicable to Base Rate Loans only:
9.8% APR based on an assumed unsecured loan amount of £8,000 with 60 monthly repayments of £167.62 at an annual interest rate of 9.40% (variable). Total amount payable £10,057.20.

APR means annual percentage rate of interest charged against your loan which is a combination of Bank of England Bank Rate (variable) 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.

There is always the 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 rate. 

  • Do I need to have a Business Current Account with Lloyds Bank to apply for a Business Loan?

    You can apply for a Lloyds Bank Business Loan without having a Business Current Account with us. If your application is successful and you do not wish to open a Business Current Account with us, we will open a fee-free Loan Servicing Account until your Business Loan is repaid. You will be given this choice during your application.

    We are only offering the government-backed Recovery Loan Scheme to existing Lloyds Bank business customers. If Lloyds Bank do not provide your main business relationship, please speak to your main bank for support in the first instance. 

    Can I switch my Lloyds Bank Business Current Account after taking out a Business Loan?

    Yes, you are able to switch your Business Current Account to another provider while retaining your Business Loan. If you choose to close your Business Current Account with us, we will open a fee-free Loan Servicing Account until your Business Loan is repaid. 

Other borrowing options

Whether you’re an established business or just starting out, finding the right finance product to meet your needs can be difficult.

We want to make it simple for you to compare and choose our products, whatever your business circumstances. 

View all borrowing

Managing business costs and uncertainty

Support, guidance and financial options to help you build financial resilience and manage the impact of rising costs and economic factors on doing business.

Help managing business costs

See how we compare in the market

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

Alternative Business Funding

Funding Options

FundingXchange

Swoop

Business Finance Guide

Lending Initiatives

Clean Growth Financing Initiative

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

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.

1 A Guarantee may be required for Limited Companies and Limited Liability Partnerships.

Use our “Rate change calculator” to work out how a change in Bank Rate could affect your loan repayments.

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.

We adhere to The Standards of Lending Practice which are monitored and enforced by the LSB: www.lendingstandardsboard.org.uk.

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.