Lloyds Business Loans

Lloyds Bank Business Loans logo
  • Lloyds offer a range of financial solutions for businesses in the UK. Find out what options are currently available and how to apply.
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Last updated on 27 June 2022.

Lloyds offer small and larger business loans and finance solutions that could be used to manage cash flow, buy new equipment and grow your business.

It also offers overdrafts, business credit and charge cards, invoice finance and financial support for businesses that import and/or export.

Find out more about the key features of Lloyds business loans, whether you’re eligible, and how to apply.

What is Lloyds Bank?

Lloyds Bank has been providing banking services to consumers and businesses since 1765.

Today, it offers a range of business accounts to cater to the needs of startups, small, and larger businesses, as well as insurance, payments solutions, support for international trading, and accountancy software.

» COMPARE: Business bank accounts

What products and services do Lloyds offer?

Small Business Loan

Lloyds small business loans may allow you to borrow in either secured or unsecured finance to invest in growing your business. You could currently choose either a fixed or a base rate, and from flexible repayment lengths.

Larger Business Loan

You could use Lloyds’ larger business loan to borrow for bigger scale investment plans and new opportunities. This is also offered with flexible repayment lengths and if eligible you could choose between fixed and variable interest rates.

» COMPARE: Business loans

Invoice Finance

Lloyds’ Invoice Finance Manager is a selective invoice finance solution designed for businesses with occasional cash flow challenges. As long as you’re a limited business-to-business company, you can currently apply to unlock cash from any unpaid invoice on a pay-as-you-go basis.

» COMPARE: Invoice finance

Business Credit Card and Charge Cards

The Business Credit Card currently allows you to borrow interest-free as long as you pay your balance in full and on time. It may be considered as a useful way for your team to manage expenses, with the ability to issue cards to employees with a spending limit for each one.

If you are looking for a shorter-term credit, you could apply for the Business Charge Card, which doesn’t charge interest as long as the balance is paid in full and on time. There’s no limit to the number of cards you can issue.

Can I get a small business loan with Lloyds?

Lloyds offers secured and unsecured small business loans, with flexible repayment terms.

Key features of Lloyds business loans

  • Variety of loans, cards, and alternative finance options available
  • Flexible repayment lengths available
  • Fixed and variable interest rates available
  • Unsecured loans available for some businesses (Limited Companies and Limited Liability Partnerships may need to provide a guarantee)
  • Solutions also available for businesses with more than £25m in annual turnover

How do I apply for a Lloyds loan?

If you are an existing Lloyds customer, you can currently apply for a small business loan, a larger business loan and a business card by logging into your online Banking.

If you’re not a Lloyds customer, and you’re looking for a small business loan, you can currently call Lloyds on 0800 056 0056 if your turnover is less than £3 million, or 0800 022 4388 if your turnover is more than £3 million.

If you want a larger business loan, you can currently call 0345 072 5555 if your turnover is below £3 million and call 0800 022 4378 if your turnover is over £3 million.

Am I eligible for a Lloyds business loan?

In order to be eligible for any of Lloyds business loans, you must:

  • plan to use the loan for business purposes
  • be looking to borrow a minimum amount for the small or larger loans
  • be a sole trader, partner, or director with the authority to approve borrowing
  • be 18 or older

What do Lloyds customers say?

On Trustpilot, Lloyds bank has been rated 1.5 out of 5 based on 2,740 reviews.

On the App store, the Lloyds Bank Mobile Banking app has been rated 4.8 out of 5 based on 1.5 million reviews. And on Google Play, it’s been rated 4.5 out of 5 based on 269,000 reviews.

This information is correct as of 31 May 2022.

Conclusion

Lloyds Bank offers large and small business loans, invoice finance and credit cards.

Whether you are considering a small loan to buy assets or free up cash flow, or a larger loan to invest in grand expansion plans, you may be able to apply for a Lloyds business bank loan online.

Lloyds business loans offer flexibility, with currently up to 25-year repayment terms available, and the ability to choose between fixed and variable interest rates.

You can contact Lloyds Bank directly to apply for a business loan , it may be helpful to compare it to other business loan and finance providers to ensure you’re getting the best solution for your needs.

Lloyds Business Loan FAQs

Which loan is best for business?

No one particular loan is best for all businesses. Lloyds offers a variety of loans, repayment terms, and interest rate options, so you may be able to find a solution that works for you and your business plans.

What criteria do you need for a business loan?

For a Lloyds business loan, you must be over the age of 18, intending to use the loan for business purposes, and either a sole trader, partner, or director with the authority to agree to a loan.

How much deposit do you need for a business loan?

You don’t need a deposit for a Lloyds business loan. You pay back the loan with interest over an agreed repayment period.

Services offered by this provider may change over time. Always check Ts&Cs.