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Take out a secured or unsecured loan from £1,000 to £50,000 if your turnover is less than £3 million.
Upgrade or expand to new business premises with a commercial mortgage.
Find out more about government-backed business loans.
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.
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.
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.
A variable rate is available on loans that are £25,001 or more. The interest rate can change from month to month as 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.
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.
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.