Good things are happening in British business
Find out how some of our customers have evolved their businesses in innovative ways.
11.8% APR (fixed) representative based on an assumed unsecured loan amount of £8,000 with 60 monthly repayments of £174.74 at an annual interest rate of 11.20% (fixed). Total amount payable £10,484.40.
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.
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.
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.
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.
To apply for a business loan from us, you must:
When you apply for a business loan, we may ask you for:
Depending on the specific details of the loan you apply for, we may also ask you for:
Enquire about a business loan
To point you in the right direction, we need to ask you a couple of questions.
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 alternative finance options and guidance to other sources of funding or government-backed schemes.
Security for loans isn’t always necessary or required. We will 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 will 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.
To grow a resilient business that’s around for the long term, you must plan for sustainable growth. That means understanding the current situation and having a vision for the future.
Find out how family-run Cavan Bakery has significantly expanded their operations with the support of a £1.5m funding package.
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.