Larger Business Loans from £25,001

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.

Businesses who have already taken out a CBILS, CLBILS or BBLS facility are able to access the scheme.

If you require a loan between £25,001 and £2 million and you meet scheme criteria and our credit criteria, we may be able to offer you a loan under the Recovery Loan Scheme.

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.

Lloyds Bank secured Business Loan

Available to new and existing Lloyds Bank customers.

  • Borrow from £25,001
  • Flexible repayment terms up to 25 years
  • Fixed and variable interest rates available
  • A personalised quotation will be discussed after enquiry
  • Subject to full credit assessment
  • You will remain 100% liable for repayment of the loan.

  • You must:

    • Require the loan for business use
    • Apply for a minimum of £25,001
    • Be a sole trader, partner or director with authority to borrow on behalf of your business
    • Be aged 18 or over.

Recovery Loan Scheme

Available to existing Lloyds Bank business customers only.

  • If you borrow between £25,001 and £250,000, security may be required
  • If you borrow between £250,001 and £2 million, security will be required
  • Fixed and variable interest rates available over terms between 1-6 years 
  • A personalised quotation will be discussed after enquiry
  • No interest free period, and your business must be able to afford repayments from month one
  • You will remain 100% liable for repayment of the loan
  • Subject to full Credit assessment. Financial accounts and financial forecasts will be required. We will consider affordability, taking into account other borrowing commitments including BBLS, CBILS or CLBILS.

Enquire about our Business Loan

To enquire about either a Lloyds Bank secured Business Loan or the Recovery Loan Scheme, please answer a few questions. 

Enquire now

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

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

 

Log on and enquire

If you aren’t registered for Online for Business, please contact your Relationship Manager. 

We are only able to offer the Recovery Loan Scheme to existing Lloyds Bank business customers.

If you would like to enquire about a Lloyds Bank secured Business Loan above £25,000, please call 0800 022 4378.

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

We are only able to offer the Recovery Loan Scheme to existing Lloyds Bank business customers.

If you would like to enquire about a Lloyds Bank secured Business Loan above £25,000, please call 0345 072 5555.

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

  • 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. 

Small Business Loans

If you’re looking to expand, invest in new equipment or borrow to manage your cash flow, our small Business Loan up to £25,000 can help you. 

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. 

Helpful guides

Whether it’s for growth or development, there are many reasons why your business may need finance. We could provide help when you most need it.

Lending appeals

The right type of funding can play a vital role in helping your business reach its potential. If your lending application is declined, we will work with UK Finance to pursue any raised appeals.

Appeals for borrowing logo 

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.

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.

Whilst all reasonable care has been taken to ensure that the information provided is correct, no liability is accepted by Lloyds Bank for any loss or damage caused to any person relying on any statement or omission. This is for information only and should not be relied upon as offering advice for any set of circumstance. Specific advice should always be sought in each instance. 

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.

The Recovery Loan Scheme is managed by the British Business Bank on behalf of, and with the financial backing of, the Secretary of State for Business, Energy & Industrial Strategy. British Business Bank plc is a development bank wholly owned by HM Government. It is not authorised or regulated by the PRA or the FCA. Visit https://www.british-business-bank.co.uk/recovery-loan-scheme   

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.