Good things are happening in British business
Find out how some of our customers have evolved their businesses in innovative ways.
A Business Overdraft acts like a short-term safety net for your business finances. In business, it's normal for cash flow to change with different situations – some of which may be out of your control. An overdraft on your business account is an extra line of credit that gives you an interim cash flow solution, should you need it.
You could apply for up to £5,000 across a Business Overdraft or Business Credit Card when you open a new Business Current Account*. This could help you get your business off the ground, build your credit rating and cover any unexpected costs.
*Apply online once your new Business Current Account is set up and you’ll get an instant decision. Eligibility for lending will be assessed as part of a separate application, and there is no guarantee of lending being granted. All lending is subject to status.
Overdrafts can be useful in helping to cover unexpected costs or large outgoings when the money flowing into your business isn't there to support them at that moment. An arranged overdraft differs from a loan in that you can repay it and use it again . You can pay back an overdraft as and when you're able to, but fees may apply. You may also be able to increase your overdraft limit depending on your business needs.
To get a Business Overdraft, you’ll need to have a Lloyds Bank Business Current Account. It’s always a good idea to check eligibility criteria first.
No, you’ll have to apply for a Business Overdraft as an existing Business Current Account holder.
No, you will only be charged interest on the amount you borrow, regardless of your total borrowing limit. However, if you exceed this limit then unauthorised borrowing charges will apply. Fees for Business Overdrafts over £5,000 will be calculated on the full overdraft limit.
Over the last 25 years, Westaway Sausages has transformed from a startup company to one that leads in innovation and performance in the competitive meat products sector, with support from Lloyds Bank.
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.
Authorisation can be checked on the Financial Services Register at www.fca.org.uk under the Firm Registration Number 119278.