Lloyds Bank are one of the key lenders to UK businesses, lending over £20 billion to British businesses alone last year. They claim to approve over 80% of loan and overdraft applications. All arrangement fees are currently being waived on Business term loans submitted between 6th October 2015 and 9th January 2017.
They offer a variety of different business loans, to help small businesses and larger enterprises. Their loans range from 1-25 years, amounts ranging for £1,000 - £500,000.
This loan amount begins at £1,000. The rate of this loan is dependent upon the Bank of England bank rate (currently 0.25%) and its term from 1-25 years, dependent upon the business needs.
Key features include a low bank rate, no early repayment costs that may be associated with other loans, and borrowing on a secured or unsecured basis.
The Fixed Rate Loan amount begins at £1,000, for a period of 1-10 years. The repayment rate of this loan will be fixed for the full term of the loan.
Benefits include fixed monthly repayments and no early repayment costs. Businesses may also borrow on a secured or unsecured basis.
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The Commercial Fixed Rate Loan is for lendings of £50,001 - £500,0000 over a period of 1-25 years. This also has a fixed rate for the full term of the loan, however early repayment charges may apply if the loan is full or partly paid back early.
This is a longer term loan, ranging from 1-10 years, for lendings of £1,000 - £50,000. This loan can be borrowed on a secured or unsecured basis.
Should you choose to repay the loan early during the fixed rate period maximum break costs are defined at the outset, giving you certainty about the maximum costs you could accrue.
|Reviewed by Expert Market & Independent Researchers:||21/04/2016|
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Alternative Services Offered
- Commercial Mortgages
- Lending Schemes
Enterprise Finance GuaranteeThe Enterprise Finance Guarantee allows companies to borrow from £25,001 to £600,000 over one to ten years, or £600,001 to £1,200,000 over one to five years. Fixed rate or variable interest rates are dependent upon individual circumstances. Borrowers may face an early repayment charge if fixed rate loan is repaid early. To apply for this finance the business must not turnover over £41,000,000.