How to apply for lending
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.
We’re committed to helping you choose the right banking product, and supporting you throughout the application process.
Read our charter to find out how we're committed to lending to businesses.
Here is a guide on how to apply for lending.
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We offer a complete range of business finance options that can be tailored to meet your needs. To help you find the right one, please visit these pages:
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To support the application, use our free Sage Planning for Business software to create a business plan.
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Choose one of two ways to start your application:
- Call one of our advisers – contact details are provided with each of the finance options.
- Fill in our online form to start the process – details are provided with each of the finance options.
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Once you've submitted your application, either one of our relationship managers or business managementteamwill check to ensure they have all the information they need. We will try to give a decision as quickly as possible.
During the process of reviewing your application, we will:
- Ensure we have all the information we need. Sometimes we may need further documents from you, so it’s worthwhile providing your latest information up front (e.g. cashflow forecasts) so your application can be processed efficiently.
- Complete background checks on you and your business, such as Companies House searches.
- Assess how suitable and affordable the finance option is, explaining borrowing costs.
- Explain other types of finance which may be suitable, so you can consider those most appropriate for your business.
- Request your permission to undertake a credit check on you and your business.
- Ask for extra information if required.
The business management team will arrange a meeting to discuss your application if necessary. Following the application submission, they will complete a credit proposal.
Depending on the amount you wish to borrow, your business sector and credit history, your application may be referred to our credit sanctioning team. If this happens, our decision may take a little longer. Our business management team can lend up to £500,000 at a local level without referral.
We will meet every reasonable request for finance (whether short-term or long-term) from viable business customers.
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When we have made a decision on your application, we will let you know in writing. If your application is successful we’ll provide the appropriate documentation and let you know when and how you will receive your finance.
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If this is the case, we’ll work with you to strengthen your financial position and support you for future applications. When applying for finance, your business is in a stronger position if it can demonstrate:
- A good financial track record (if it's an existing business).
- Sound management of your business.
- A business idea expressed in a well-researched, well-presented business plan.
- Financial controls and expert support.
- Personal commitment from principal shareholders.
- Financial security.
If we are unable to provide you with finance, talk to your business management team who will be able to inform you of alternative forms of finance or go to the Better Business Finance website for more information.
If you disagree with a declined application, you can follow the appeals process. This provides details of how and when you can take the matter further.
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Lending appeals
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.