Fixed Rate Loan
Features and benefits
- 5.1% APR Annual Percentage Rate (APR) is the total cost of the credit expressed as an annual percentage of the total amount of credit. It represents the actual yearly cost of credit over the loan term and includes not only the interest but also any other charges you have to pay, for example, an arrangement fee. The APR will vary depending on the loan amount and term.Representative* (fixed)
- No arrangement fees
- Borrow from £1,000 to £50,000.
- Choose a term from 1 to 10 years.
- Fixed monthly repayments.1
- No early repayment costs.2
- Loans available on a secured or unsecured basis.
- Read our charter to find out how we're committed to lending to businesses.
Representative example: 5.1% APR based on an assumed unsecured loan amount of £8,000 with 60 monthly repayments of £150.97 at an annual interest rate of 5.0% (fixed). Total amount payable £9,058.20.
*The representative APR is an illustration of the rate that the majority of customers will receive. If a loan is described as having a particular representative APR, then we expect to offer that rate or better to at least 51% of the applicants we accept. Other customers may get a different rate based on their individual circumstances.
Our representative APR applies to all unsecured loans with a borrowing amount of up to £25,000 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.
By borrowing at a fixed interest rate, you'll know exactly how much your repayments will be every month. This can help you plan and manage your finances in advance, without needing to worry about changing market conditions.
1There is always a 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.
2Break costs may apply upon full/partial early repayment of the loan. These will be calculated based upon the loan rate compared to market rates at the time of repayment. These may be substantial.
To enquire about this loan, you must:
- Require the loan for business use.
- Apply for a minimum of £1,000.
- Be a sole trader, partner or director with authority to borrow on behalf of your business.
- Be aged 18 or over.
One of our business management team will be happy to speak with you about your application. However, before you get in touch, please make sure you know:
- How much you would like to borrow.
- The purpose of the finance.
- What time period you would like to make the repayments over.
For loans above £25,000, an arrangement fee will apply and is related to the amount you choose to borrow. These terms will be discussed with you before you take out the loan.
Amount of borrowing
Amount of borrowing
Up to £25,000
Amount of borrowing
£25,001 - £1m
You will be provided with terms & conditions during the application process.
How to apply or enquire for any of our loans
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.
Overdrafts are repayable on demand.
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.
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
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.
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.