Lloyds Bank

Lloyds Bank business loans review

Lloyds Bank has a broad range of business loans that are worth exploring. Discover all the deals currently available.

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Lloyds business loans comparison

Name Product Loan type Loan amounts Loan terms Turnover/trading criteria Key benefit
Tide Start-up Loan
Fixed rate loan
£500 to £100,000
12 to 60 months
No specified minimum turnover,
maximum 36 months trading
Connect your business bank account and gain access to business loans (Terms & Conditions apply).
6% APR representative (fixed).
Cubefunder Sole Traders Flexible Business Loans
Fixed rate loan
£2,500 to £7,500
Up to 12 months
No specified minimum turnover or time trading
Representative Example: Borrowing £5,000 over 24 months at an interest rate of 30.0% p.a. (fixed), you will repay 24 monthly payments of £320.83 per month. Interest Payable £2,700. Total Repayable £7,700. Representative 45.5% APR.
Lombard Business Finance
Fixed or variable rate asset finance loan
£5,000 to £250,000
12 to 84 months
No specified minimum turnover or time trading
Access discounted EV charging technology with Octopus Energy and business support tools with Swoop (Terms & Conditions apply).
NatWest Fixed Rate Small Business Loan
Fixed rate unsecured loan
£1,000 to £50,000
12 to 120 months
No specified minimum turnover or time trading
Borrow £10,000 over 5 years at a rate of 11.7% pa (fixed). Representative APR 12.35% and total payable £13,255.89 in monthly repayments of £220.93 Other amounts available at alternative rates. Rates depend on your circumstances and loan amount and may differ from the Representative APR. Subject to status, business use only.
Love Finance business loan
Fixed rate line of credit loan
£5,000 to £250,000
3 to 60 months
£50,000 minimum turnover,
minimum 3 months trading
Representative example: Borrow £25,000 over 5 years at a rate of 19.40% p.a. (fixed). Representative APR 19.40% and total payable £ 38,395.20 in monthly repayments of £639.92.
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Lloyds Bank was founded in Birmingham, England, in the 18th century. It is a retail and commercial bank with branches across England and Wales. The bank has a long history of providing funding to businesses, with a wide range of products available to help corporations at various stages of development get to the next level.

If you’re looking for a cash injection for your business, consider applying to Lloyds Bank for one of its business loans. Below, we list their different loans with the key information on each.

Tide Start-up Loan

Tide Start-up Loan

  • £500 to £100,000
  • 12 to 60 months
  • Cashflow forecasting through Tide Connect
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Overview of Lloyds Bank business loan options

  • Base Rate Loan. This comes with no arrangement fees for small loans and no early repayment costs. Loans are available on a secured or unsecured basis.
  • Fixed Rate Loan. This comes with fixed monthly repayments so you know what you’ll be paying. It is available on either a secured or unsecured basis.
  • Commercial Fixed Rate Loan. This allows you to borrow large sums of money on payment terms that stretch from 1 year to 25 years.
  • Capped Base Rate Loan. This allows you to borrow very large sums of money. It also comes with capital repayment holidays and allows you to borrow on a secured or unsecured basis.

Key features of Lloyds Bank business loans at a glance

  • Loan duration. The various loans come with payment terms that can span anywhere from 1 year to 25 years.
  • Security. The bank offers both secured and unsecured business loans. However, if you use your home as collateral for a loan, it will be repossessed in the event that you can’t make your repayments.
  • Fixed monthly repayments. With the Fixed Rate Loans and Commercial Fixed Rate Loans, you’ll always know how much you’ll be repaying.
  • Option to take a repayment holiday. This is possible, although you will still be accruing interest during this period. Nevertheless, it is a good way to allow you to start seeing a monetary return on your investments and build cash flow, before finishing your repayments.
  • No penalties for paying early. This applies to the Fixed Rate Loans and Base Rate Loans. But all other loans come with financial penalties for repaying early.

Depending on the business loan in question, Lloyds Bank offers fixed interest rate deals or variable interest rate deals.

Am I eligible for a Lloyds Bank business loan?

You should only apply for a Lloyds Bank business loan if you’re certain you can meet the repayment terms, and your company can meet the following criteria:

  • Be a private limited company that was incorporated in the UK (excluding Northern Ireland, the Channel Islands and the Isle of Man)
  • Have been trading for at least one year
  • UK resident (excluding Northern Ireland, the Channel Islands and the Isle of Man)
  • Need the loan for business use
  • Be a sole trader, partner or director of your company
  • Be over 18 years of age
  • Be an authorised signatory on the company’s bank account
  • Not have been bankrupt within the previous six years
  • Have had no court judgements or decrees for the previous three years

You may still be accepted with a poor credit history, although it’s likely you’ll be charged a higher rate of interest as a result.

You will be asked:

  • How much money you want to borrow
  • The specific business function that it will help you to perform
  • The period of time over which you’d like to make your payments

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