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.

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

7.1% APR (variable) representative* / 7.1% APR (fixed) representative**

  • 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 quote for a loan 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

We’re participating in the government-backed Recovery Loan Scheme, to support customers impacted by the coronavirus pandemic.

  • Borrow between £25,001 and £10 million, from 1 to 6 years.
  • There is no interest-free period or Business Interruption Payment (BIP) provided by the government
  • The scheme is supported by an 80% guarantee provided by the government to the bank
  • Subject to full credit assessment. You remain 100% liable for repayment of the loan.

At Autumn Budget 2021, the government announced that the Recovery Loan Scheme will be extended by six months to 30 June 2022.

From 1 January 2022, the following changes will come into force:

  • The scheme will only be open to small and medium sized enterprises (turnover less than £45 million)
  • The maximum amount of finance available will be £2 million per business (maximum amount per Group is limited to £6 million)
  • The guarantee coverage that the government will provide to lenders will be reduced to 70%
  • These changes will apply to all offers made from 1 January 2022

Representative example

*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.

7.1% APR based on an assumed unsecured loan amount of £8,000 with 60 monthly repayments of £158.03 at an annual interest rate of 6.9% (variable). Total amount payable £9,481.80.

**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.

7.1% APR based on an assumed unsecured loan amount of £8,000 with 60 monthly repayments of £158.03 at an annual interest rate of 6.9% (fixed). Total amount payable £9,481.80.

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. 

Success Stories 

Anwyl Homes

Anwyl Homes

Find out how one of the UK’s leading independent housing developers boosted its turnover by 49%, after receiving support from Lloyds Bank. 

Read case study

Stokes Sauces

Stokes Sauces

Find out how Lloyds Bank helped a British company that makes sauces and condiments for retailers around the world, double its capacity and launch new recyclable packaging. 

Read case study

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

Business Recovery

Businesses are facing unprecedented challenges right now and meeting financial obligations can be hard. Support is available should you need it.

Business Recovery Hub

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.