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.
If your application is declined, contact our business management team and say that you wish to appeal. You need to appeal within 30 calendar days of the date of the decline letter.
Alternatively, you can complete our online appeal form.
You also have the right to appeal if you’re unhappy with the conditions relating to agreed lending, such as the need to provide security, regular financial trading information or up-to-date property valuations.
Appeals can only be submitted before you draw down on the credit facility. You cannot appeal the proposed costs of agreed lending, such as interest rates, fees and costs or the standard terms and conditions, nor appeal after funds have been drawn down.
We will write to you to confirm your appeal has been received and what you can expect to happen next.
Your appeal will be reviewed by a specialist in the lending appeals team. This team is not involved in the original lending application process. They will:
- Take an impartial and unbiased view of the information you’ve given in your first application and how the decision was reached.
- Contact you to clarify queries that arise from the review or to ask for additional information if needed.
- Aim to contact you within 30 calendar days of receipt of the appeal to inform you of the outcome.
- Commit to resolve 90 percent of appeals within 15 working days.
For upheld appeals, our business management team will process your lending application. You’ll also receive a goodwill payment of £150 to recognise your successful appeal.
If your appeal is not upheld, our business management team will continue to work with you to present a stronger lending application in the future, and point you towards relevant support and guidance.
You can appeal the decline decision and have it independently reviewed by a specialist in our lending appeals team.
You also have the right to appeal conditions relating to your requested lending, but not the proposed costs of lending, such as interest rates, fees and costs, or the standard terms and conditions.
Go to the Better Business Finance website for more information about the appeals process.
You can appeal a decision relating to any business borrowing facility such as loans, overdrafts, commercial mortgages, business credit cards, invoice financing, asset finance and trade finance.
You can appeal following any formally declined lending decision. An application is considered formal when we receive the correct information that makes a decision possible.
You can also appeal any of the conditions concerning your lending request, but not the proposed costs of agreed lending such as interest rates, fees and costs, or our standard terms and conditions.
If you submit an appeal relating to lending condition(s), this could delay how long it takes to implement your lending facility; however, we aim to deal with 90 percent of all appeals within 15 days of receipt.
Requesting an appeal does not guarantee that a decline decision will be overturned.
You or your intermediary has 30 calendar days from the date of the declined letter to appeal our decision. We keep to a 30-day maximum because the information you provided at the time of your original application can become outdated. After 30 days, we suggest you talk to our business management team about a new application.
If you wish to appeal any of the conditions relating to your requested lending, this should be done before you sign the lending documentation. Appeals cannot be submitted if they relate to specific lending conditions after you draw down on the lending facility.
Can I appeal if my lending application is accepted but I do not like the price offered? expandable section
This needs to be discussed with our business management team. If you’re still unhappy with the way we have dealt with your enquiry, you have the right to pursue a formal complaint.
Go to our customer support section for more on complaints procedures.
An appeal is a request to review a decline decision following a formal lending application or where you’re unhappy with the lending conditions associated with an offer.
If lending is declined, you can have the decision independently reviewed by another experienced lender within Lloyds Bank.
Any issues outside the appeals process should be pursued as a complaint through the formal complaints process.
Yes. However, you may need a full copy of your credit file from a credit reference agency and be able to prove that an error has occurred or that the circumstances of the adverse information were exceptional. Agencies hold information that helps lenders establish individuals' credit record.
You’re legally entitled to see all the information held about you, by any agency, by writing to: Experian Limited, Consumer Help Service, PO Box 8000, Nottingham NG80 7WF. For fee details go to www.experian.co.uk or call 0344 481 0800.
If I am declined because of an automated credit assessment, what are my grounds for appeal? expandable section
You can appeal if you believe we have not taken into account all of your circumstances or, following a discussion with our business management team, you feel your application should have been approved. We may contact you to clarify any queries that may arise from the review or to ask for extra information.
If your circumstances have changed significantly since the first application and you would like to re-apply on that basis, we would be happy to consider a new application.
If my lending application is declined does Lloyds Bank automatically review the decision without me appealing? expandable section
No. It’s up to you to raise the matter for appeal. Our business management team often works with credit specialists to ensure they have correctly assessed applications. Complicated lending requests are often reviewed by more than one credit specialist to ensure your application has been fully considered.
Following an initial discussion about a lending application it is suggested that my application may not succeed. Would I have the right to appeal? expandable section
An appeal can only be made after a decline decision following a formal application.
Our business management team is skilled in assessing whether we have the right financial products to help you. They can work with you to present a stronger lending proposition in the future and, if necessary, talk to you about alternative sources of finance and other support.
We will write to inform you of the outcome of the appeal. If you’re happy for us to proceed, our business management team will continue to process your application.
We will write to you confirming the outcome of the appeal. If your circumstances have changed significantly since the time of the original application and you would like to re-apply, we would be happy to consider a new application.
If this is not the case, we’ll be happy to talk to you about how we can work together to present a stronger lending proposition in the future. We’re dedicated to helping UK businesses thrive throughout the economic cycle. Therefore, we want to ensure you have the support you need to make your business stronger.
Lloyds Bank adheres fully to the Standards of Lending Practice. To ensure our decisions are fair and correct, we are monitored by an independent external reviewer.
To provide an independent assessment of the appeals process. They won’t review individual lending decisions or accept appeals directly from customers in the event of a complaint.
To ensure banks have the correct processes to handle appeals fairly and effectively themselves, the independent external reviewer publishes an annual report detailing how banks are performing.
The Lending Standards Board monitors and enforces the Standards of Lending Practice and ensures participating banks provide a fair deal to their personal and business customers.
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.
Overdrafts are repayable on demand.
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.
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.