Supporting Black-owned Businesses
At Lloyds Bank we are committed to creating an inclusive environment for our colleagues, customers and communities. Key to delivering on this aim is ensuring we are clear on the role we play in helping Black-owned businesses to thrive.
In July 2020, we launched our Race Action Plan to help us to address the specific challenges and barriers that our Black colleagues and customers face. Through our partnerships with Black Business Network, Foundervine and the Black Business Advisory Committee, we are dedicated to spearheading long-lasting and systemic change.
We recognise that we still have a long way to go to create a truly equitable experience for Black business owners. As one of the UK’s largest organisations, we have a responsibility to do all that we can to ensure the business community is representative of the country we’re proud to be a part of.
From knowing the different types of funding available to understanding how to apply and what is expected, our guides can help you get to grips with the financial aspects of running a business.
Whether you’re an established business or just starting out, finding the right finance product to meet your needs can be difficult. Compare and choose from our products, whatever your business circumstances.
Busting the lending myths
We are keen to help businesses of all sizes access the funding and support needed to back their ambitions. Here, we answer some common misconceptions associated with bank lending.
Recovery Loan Scheme
The Recovery Loan Scheme (RLS) launched on 6 April 2021 and supports access to finance for UK businesses as they recover and grow following the COVID-19 pandemic.
Wherever you are on your journey, you will find information and inspiration on everything from securing funding, improving productivity to safeguarding mental health in the workplace.
Let’s Talk Finance
Watch the Black Business Advisory Committee discuss the challenges faced in the Black business community and tips on seeking the right finance to start or grow a business.
We recognise the importance of working with external experts that directly support the Black business community to ensure it fully understands and supports the ambitions, priorities and unique challenges faced.
Foundervine, a social enterprise, supports high-potential businesses run by leaders from underrepresented communities.
• Community get-togethers
• Evening spotlight events
• Accelerator programmes
• Educational video content
Black Business Network
Our partnership with the Black Business Network includes sponsorship of the Black Investor 360 events in 2020 and 2021 and the ‘Black. British. In Business and Proud’ three-year research programme to learn more about the business journey for Black people in Britain.
Racial Equity Fund
We support charities with an annual income of between £25,000 and £1 million with a strong track record of helping people from Black, Asian and minority ethnic communities overcome complex social issues. We offer a two-year unrestricted grant of £50,000 alongside development support to help your charity navigate change.
Our Community Conversation events are hosted by members of the Black Business Advisory Committee focused on different topics and include networking with other Black-owned businesses and Lloyds Bank colleagues.
Watch the inaugural Community Conversation event
Listen to the first Community Conversation event where members shared the highs and lows of their personal journeys and held a live audience Q&A.
Let’s talk finance
Watch the Committee discuss the challenges faced in the Black business community and tips on seeking the right finance to start or grow a business.
Race Action in Enterprise and Entrepreneurship
Hear our panel discuss the barriers faced by Black-owned businesses and entrepreneurs, and ways to break down these barriers.
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.