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Small Business Loans

  • Flexible funding between £1,000 to £50,000.
  • Apply online – without impacting your credit score.
  • No arrangement fees or early repayment fees.

 

Log in and apply

Check if your business can apply

Why choose us for a small business loan?

Choose your amount

Got a laser focus on your business? Borrow from £1,000 up to £50,000.

Flexible repayments

Choose the period of time that you want to repay the loan in. Starting from one year.

Speedy access to money

Once we’ve accepted your application, the money could be in your account in 48 hours.

Get a fixed rate of 11.2% APR representative* on loans from £1,000 to £50,000

This is the representative APR. The actual APR you get may be different. If you need a loan above £50,000, we'll let you know the APR for this when you apply.

  • 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. The figure is for illustrative purposes only.

    Our representative APR applies to unsecured loans for businesses with a turnover of up to £25 million.

Get a fixed rate of 11.2% APR representative* on loans from £1,000 to £50,000

This is the representative APR. The actual APR you get may be different. If you need a loan above £50,000, we'll let you know the APR for this when you apply.

  • 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. The figure is for illustrative purposes only.

    Our representative APR applies to unsecured loans for businesses with a turnover of up to £25 million.

Steps to take

We'll guide you through it.

Applying for a business loan with us

  1. Apply via the App or Online for Business
    We’ll ask you how much you want to borrow, over how long and what the loan is for.
  2. We’ll assess
    We carry out our credit assessment on your application.
  3. And let you know
    We’ll let you know if you’ve been approved for a business loan and you could have your funds within 48 hours. If your application isn’t successful, we can talk to you about other options. 

Types of business loans

We have different types of business loans to suit your needs and ambitions

 

Fixed rate business loans

When you take out a fixed rate business loan, the interest rate doesn’t change during the fixed rate period. It could be a good option if you want to know exactly how much to repay during this time.

 

Variable rate business loans

If you want to borrow more than £25,000, you can choose a variable rate. This means the interest rate can change from month to month. It usually tracks the Bank of England Base Rate.

If the Bank of England Base Rate changes, your repayments and interest amount will change too. So they could go up or down.

Fixed rate business loans

When you take out a fixed rate business loan, the interest rate doesn’t change during the fixed rate period. It could be a good option if you want to know exactly how much to repay during this time.

Variable rate business loans

If you want to borrow more than £25,000, you can choose a variable rate. This means the interest rate can change from month to month. It usually tracks the Bank of England Base Rate.

If the Bank of England Base Rate changes, your repayments and interest amount will change too. So they could go up or down.

Check if your business can apply

To apply for a business loan with us, you must:

  • be at least 18 years old
  • want to borrow at least £1,000
  • need the money for business, not personal reasons
  • be a sole trader, partner or director and authorised to borrow on behalf of your business.

Keep in mind

To help us assess your application properly, there are a few things we’ll need from you:

  • Proof that your business can make the repayments on time.
  • Details of any other business loans or finance you have.
  • A Guarantee if you’re a Limited Company or Limited Liability Partnership.
  • Permission to carry out a credit check.

See how borrowing could work for you

Get a quote to see what you could borrow without affecting your credit rating. Quotes include indicative interest rates and repayment details for loans up to £25,000.

99% of customers who used this tool and chose the same product received an offer rate that was the same, better, or no more than 10% above their indicative quote.

Get a quote

Customer stories and more

 

Cavan Bakery’s fortune’s rise with new premises

Discover how Cavan Bakery are making more artisan bread and cakes, more efficiently, thanks to the new premises and equipment that we helped finance.

Read Cavan Bakery growth story

Customer stories

Find out how we’ve helped more businesses overcome challenges and succeed.

Browse more customer stories

Frequently asked questions

  • We’ve made our application process as straightforward as possible as possible because we understand the time pressures facing business owners. Find out more about how to get a business loan.

  • A lack of credit history isn’t necessarily a problem. Credit history is just one aspect of what we consider when assessing a loan or overdraft application.

    If you’re a start-up, getting the right finance is key to getting your new venture off the ground. Our guide to financing a start-up covers the essentials to give you the best chance of success.

  • 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 give you a fee-free 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.

  • Yes, you can switch your Business Current Account to another provider and keep your Lloyds Bank business loan. If you choose to close the Business Current Account you hold with us, we’ll give you a fee-free Loan Servicing Account until you’ve repaid your loan.

  • When you apply for a business loan of up to £50,000, we may ask you for: 

    • Proof of any other existing finance.
    • Details of assets you could use as security, including the estimated value of your business.
    • A profile of your business including the experience and track record of its owners and management team.
    • Documents showing how much money you and/or the management team have personally invested in the business.

    Depending on the specific details of the loan you apply for, we may also ask you for:

    • Details of business assets and liabilities
    • Historic financial accounts
    • Management accounts
    • A business plan covering the borrowing term
    • Cashflow forecast covering the borrowing term.

  • We process your business loan application as quickly as possible. Funds should be in your account within 48 hours of your application getting approved.

  • 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 decline your application, we can discuss alternative finance options or refer you to our appeals process.

 

Other ways to finance your business

Loans are only one way to finance your business. Depending on your circumstances and goals, another type of borrowing could suit you better.

Explore your options and check out the other types of finance we offer – from business overdrafts to asset finance. 

Ways to borrow
 

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 the British Bankers’ Association to pursue any raised appeals.

Find out more about 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.

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.