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    Options at the end of your loan repayment holiday

    We’re here to support you.

    Please consider all the options below so you can make the right decision for your business. Other finance options may also be available such as Asset Finance, Invoice Finance and Credit Cards, please visit our website for more information. 

    Restart your capital repayments

    If you’re happy to restart your capital repayments, there’s nothing you need to do.

    We’ll automatically collect your payment when it’s due. You can see when your capital repayments will restart in the amendment email we sent when your capital repayment holiday began. 

    • You’ll pay less interest overall than if you extend your capital repayment holiday
    • You can make overpayments on your loan to help reduce what you’ll pay overall. For some products such as Fixed Rate Loans, break costs may apply if you make an overpayment. This may reduce the money you’d save*.

    Keep in mind 

    Your new total monthly repayment may be different to what it was before.

    Extend your capital repayment holiday

    You may be able to extend your capital repayment holiday. If we’re able to extend it:

    • We’ll stop your capital repayments for another 3 months
    • You’ll still need to pay interest on the loan during your capital repayment holiday as set out in your loan agreement
    • We’ll increase the term of your loan by 3 months to cover the repayments you didn’t make during your capital repayment holiday (this does not include loans held under the Enterprise Finance Guarantee scheme, where the term will stay the same)
    • The overall cost of your loan will increase as you pay more interest over a longer term
    • The capital repayment holiday extension will be applied to all your loans with existing capital repayment holidays (excluding any Government-backed lending schemes).

    Extend your capital repayment holiday

    Note: this will take you to the start of the enquiry form, please complete to apply. 

    Other borrowing options that may be available to you:

    Additional lending – Loans

    You may be able to apply for a Commercial Loan.

    • Choose between fixed and variable interest rates to suit your business needs
    • Term: 1 – 25 years
    • Borrowing starts at £1,000
    • Subject to credit assessment and security availability. 
    Find out more

    Additional lending – Overdraft

    You may be able to apply for an Overdraft or increase your existing Overdraft amount.

    • Flexible, up to an agreed limit – you can use or repay depending on your cash flow or needs
    • Only pay interest on the funds you use
    • Term: up to 12 months
    • Variable interest rate
    • Borrowing starts at £500. 
    Find out more

    Government-backed lending schemes

    If you haven’t already applied for a government-backed loan, you may be able to receive support. 

    Bounce Back Loan Scheme (BBLS)

    • Borrow between £2,000 and £50,000
    • Available until 30 November 2020

    Coronavirus Business Interruption Loan Scheme (CBILS)

    • Borrow between £50,001 and £5 million
    • Available until 30 November 2020

    More information

    If you’d like to discuss your options in more detail, please return to the enquiry form and request a call back to discuss other finance options, or contact us.

    If you have a Relationship Manager, please contact them directly.

    If you do not have a Relationship Manager, please call us on 0345 072 5555 (+44 1733 347 338 if you’re outside the UK). Lines are open Monday to Friday 8am-6pm, except on bank holidays.  

    Important information

    *You may be charged break costs for full or partial early repayment of Fixed Rate or Capped Rate Loans. These will be calculated based on the loan interest rate compared to market rates at the time of repayment. 

    Important legal information

    Lloyds Bank plc. Registered office: 25 Gresham Street, London EC2V 7HN. Registered in England and Wales No. 2065. Lloyds Bank plc is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 119278. Telephone: 020 7626 1500

    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.

    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.

    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.