Enquire about a business loan

Small business loans

Flexible loans from £1,000 to £50,000 for small businesses and sole traders.

Why choose us for a small business loan?

Flexible amounts

Borrow between £1,000 and £50,000 as a secured or unsecured loan.

Repayment terms to suit your goals

Choose a repayment term of 1 to 25 years, depending on your business needs.

No early repayment fee

Repay your loan early without getting charged a fee.

Fast access to funds

Access your loan funds within 48 hours of your application being accepted.

No arrangement fees

Avoid paying extra – we don’t charge an arrangement fee when you take out a loan.

Online application for existing customers

Apply online quickly and easily if you already have an account with us.

11.8% APR (variable or fixed) representative* on loans from £1,000 to £25,000

Base Rate (variable) from 11.8% APR and Fixed Rate from 11.8% APR.

APR for loans above £25,000 provided on application. Representative APR only – actual offered APR may differ.

  • 11.8% APR (variable or fixed) representative based on an assumed unsecured loan amount of £8,000 with 60 monthly repayments of £174.74 at an annual interest rate of 11.20% (fixed). Total amount payable £10,484.40.

    APR means annual percentage rate of interest charged against your loan which is a combination of Bank of England Bank Rate (variable) or Fixed Rate Cost of Funds (fixed) and an interest margin which is fixed for the term of the loan.

    Applicable to Base Rate Loans only:

    11.8% APR based on an assumed unsecured loan amount of £8,000 with 60 monthly repayments of £174.74 at an annual interest rate of 11.20% (variable). Total amount payable £10,484.40.

    APR means annual percentage rate of interest charged against your loan which is a combination of Bank of England Bank Rate (variable) 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.

    There is always the possibility that interest rates may go down, leaving a fixed rate loan at a higher level compared to a variable rate loan. However, if interest rates rise, a fixed rate loan will remain at the same rate.

Is your business eligible?

To apply for a business loan online, you must:

  • Be at least 18 years old
  • Need to borrow £1,000 to £50,000
  • Need the money for business, not personal reasons
  • Be a sole trader, partner or director and authorised to borrow on behalf of your business.
Two people enjoying a hot drink at work

What we need to know

A workgroup discusses contents of collection of notes

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.

How the application process works

1. Apply online or by phone

We’ll ask you how much you want to borrow, over how long,  what the loan is for and whether you would like a variable rate loan or a fixed rate loan.

2. We'll assess

We carry out our credit assessment without impacting your credit rating.

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.

Need to borrow more than £50,000?

To apply for a business loan over £50,000, you’ll need to speak to one of our team.  

If your annual turnover is less than £3 million, please call 0345 072 5555.

If your annual turnover is more than £3 million, please call 0800 022 4378.

How a loan helped Rebellion Beer become more sustainable

Find out how a small business loan helped a Buckinghamshire brewery meet their sustainability goals and reduce costs.

Rebellion Beer case study

Small business loans explained

To help you choose the right type of loan for your business, here’s a guide to the key differences between them.

Fixed rate business loans

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.

Variable rate business loans

Unlike fixed rate loans, the interest rate on a variable rate business loan can change from month to month. This is because it 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.

New to Lloyds Bank?

Get a quote

New and existing customers, see how likely you are to get a business loan up to £25,000 without affecting your credit rating. View indicative interest rates and repayment details. 99% of customers who used this tool and opened the same product received an offer rate that was the same, better or no more than 10% above their indicative quote.

Get a  quote

Or you can call us:

If your annual turnover is less than £3 million, call 0345 072 5555.

If your turnover is above £3 million, call 0800 022 4378.

Lines are open 8am to 6pm Monday to Friday, except public holidays.

FAQs

  • 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.

Bank Rate calculator

Bank Rate calculator

Find out how changes to the Bank of England Bank Rate could affect your monthly repayments with our Bank Rate calculator.

Use our calculator

Other ways to finance your business

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 be more suitable. To explore your options, check out the other types of finance we offer – from business overdrafts to asset finance.

Ways to borrow

Helpful guides to business finance

Helpful guides to business finance

Business finance doesn’t have to complicated – that’s why we’ve created this guide. Whatever stage your business is at and whatever your goals, it’ll empower you to take the right action for your business.

Financing for growth

Lending appeals

Appeals, has your Business Finance been declined? You can ask for the decision to be reviewed

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.

Making sure you get a fair deal

We want you to find a product that's right for your circumstances, which is why we adhere to the Standards of Lending Practice, which are monitored and enforced by the Lending Standards Board.

To find out more you can read the statement of responsibilities, which details what's expected of us, the lender and you the borrower.

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.

Authorisation can be checked on the Financial Services Register at www.fca.org.uk under the Firm Registration Number 119278.