Business Overdrafts
Be financially flexible with a business overdraft.
Flexible loans from £1,000 to £50,000 for small businesses and sole traders.
Log on and applyAPR for loans above £25,000 provided on application. Representative APR only – actual offered APR may differ.
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.
Our representative APR applies to all unsecured loans with a borrowing amount of up to £25,000 and for businesses with a turnover of up to £25 million. This figure is not necessarily the rate you will be receiving and is for illustrative purposes only.
For existing customers, apply online via O4B. If you do not have a Relationship Manager, please call 0345 072 5555. If you have a Relationship Manager, please call 0800 022 4378.
To help you choose the right type of loan for your business, here’s a guide to the key differences between them.
Fixed rate loans can be a good option for businesses that want certainty. When you take out a fixed rate business loan, the interest rate you agree doesn’t change during the fixed rate period. This means you always know how much you have to repay.
A variable rate is available on loans that are £25,001 or more. The interest rate can change from month to month as it usually tracks the Bank of England Bank Rate.
If the Bank of England Bank Rate goes up or down, so will the amount of interest you pay and your loan repayments.
“The sector knowledge and support from Lloyds Bank has been invaluable. It’s allowed us to move forward with our ambitious growth plans and make adaptations to our business that will help us remain resilient.”
Graham Bentley, Chairman at Jasun Envirocare
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:
Depending on the specific details of the loan you apply for, we may also ask you for:
We process your business loan application as quickly as possible. Funds should be in your account within 48 hours of your application getting approved.
Loans are only one way to finance your business. Depending on your circumstances and goals, another type of borrowing could be more suitable. To explore your options, check out the other types of finance we offer – from business overdrafts to asset finance.
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.
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.