Small Business Loans

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, 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 have 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 £100,000, 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 other finance options or refer you to our appeals process.