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So that our colleagues can help customers most in need, some Telephone Banking services are temporarily unavailable. Find out more.

 

Finance Application Checklist

If you’d like to borrow from us, whether through a loan, overdraft, mortgage or financing scheme, there’s information we need to know first. This helps us choose a funding option that suits your needs and matches your ability to make repayments.

Use the following checklist to help you prepare for our questions ahead of time. The information that we request will vary depending on your circumstances, and we may ask for further information in addition to what’s listed below.

Your borrowing requirements

For all borrowing requests, we’ll ask you:

  • How much you would like to borrow.
  • How long you would like to borrow it for.
  • Why you want to borrow it.
  • How you plan to repay it.

Information about your business

If you request to borrow from us, we may ask you to provide:

  • A profile of your business, including the experience, expertise and track record of its owner and/or management team.
  • The amount of money you and/or your management team have personally invested in the business.
  • Details of assets you have available for security, including the estimated value of your business (we require professional valuations in some instances).
  • Information on any other borrowing commitments you have.

Additional information

Depending on your request, we may also ask you to provide us with:

  • Business plans, usually covering the term of the borrowing.
  • Cashflow forecast, usually covering the term of the borrowing.
  • Details of your business assets and liabilities, including any additional income from other sources.
  • Management accounts.
  • Historic financial accounts (for example, profit and loss, balance sheet and cashflow statements).

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.

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

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.

While all reasonable care has been taken to ensure that the information provided is correct, no liability is accepted by Lloyds Bank for any loss or damage caused to any person relying on any statement or omission. This is for information only and should not be relied upon as offering advice for any set of circumstances. Specific advice should always be sought in each instance.

All lending is subject to status.

We adhere to The Standards of Lending Practice which are monitored and enforced by the LSB: www.lendingstandardsboard.org.uk