| Representative APR | Amount | Term | Type |
|---|---|---|---|
| 5.0–15.0% | £1k–£100k | 12–84 mo | business |
Best For
Small to medium-sized enterprises with a good credit history looking for substantial loans to expand operations.
Established UK businesses seeking financial support for growth who have a solid credit history.
Lloyds Bank provides business loans ranging from £1,000 to £100,000 with terms of 12 to 84 months and an APR of 5.0% to 15.0%. For more details, visit their official site.
Pros & Cons
Watch Out
Applicants without a Lloyds business account may face stricter approval conditions.
Full Review
This loan from Lloyds Bank has a competitive range of £1,000 to £100,000, making it suitable for various business needs. The APR ranges from 5.0% to 15.0%, which can be on the higher side for those with less favourable credit ratings. Approval typically takes 1-3 days, which is decent but may vary depending on your banking history with Lloyds.
The absence of early repayment fees is a notable advantage, allowing businesses to pay off their loans without incurring extra costs. However, the preference for applicants with a Lloyds business account could limit access for some. Businesses might find better options elsewhere if they require quicker funding or have less than stellar credit.
Customer service feedback indicates that response times can vary, so it's wise to be patient during the application process. Overall, while the loan offers flexibility, carefully consider the terms and their credit standing before applying.
What Borrowers Say
Users appreciate the loan's flexibility but express concerns about high interest rates and application complexities.
