Small business loans and where they can help

There are a number of instances where small business loans can be called upon to revitalise a company, as well as address some of the impending issues it may be facing. For many people, the most costly part when starting out can be at initial set up, but they can also find that once they are up and running it becomes necessary to obtain a little more collateral in order to compete with their fellow entrepreneurs.

One area in particular which can benefit from such a financial boost to push you ahead of your peers is market presence. This means cash might be needed to spend in a number of areas – including advertising, marketing and improvements to any online facilities you may have in place. If your firm is already enjoying a period of growth, expenses can also come from elsewhere, such as new staff and bigger premises. In most cases these don’t come cheap – but they may be absolutely essential if you want your small business dreams to come true and your projects to continue to flourish.

For some start ups, technology plays a big part in day-to-day affairs and may even be a key element in the products and services you provide to your customers. This can mean it is vital to have access to the best hardware, software, data storage, telecommunications or manufacturing facilities. After all, if you fail to furnish your company with the most up-to-date systems, what’s to stop one of your competitors jumping ahead of you and doing just that?

So what options are available for Lloyds TSB business account customers looking to kick start, boost or expand their brand? Well, one option that could provide a short-term, flexible solution is an overdraft, which can be handy when unexpected overheads arise. For a more long-term investment, a loan could be more appropriate for you needs – and with variable and fixed-rate options available to applicants the terms can be tailored even further.

Once a small business has started to make its mark on the community, thoughts may also turn to making sure a dedicated headquarters is available to your growing staff – at which point it may be prudent to look at a commercial mortgage. That is, of course, if refurbishing and building upon your existing premises is not a realistic possibility.

Those who do decide to opt for a Lloyds TSB business loan will find there are a number of tempting features to the range of packages that could be just what they have been looking for. If the purpose of the cash is to fund a long-term strategy, the fact you could repay over a term of up to 30 years might be of interest, while being able to borrow anything from as little as £1,000 means smaller, quick-fix investments are also a possibility.

Optional loan protection is also available to help out in the event of sickness, accident or death and the bank offers you the opportunity to make your application on the telephone or in your local branch – look at our website for more details.

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. All loans are subject to status 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.

Lloyds TSB Bank plc Registered office: 25 Gresham Street, London EC2V 7HN. Registered in England and Wales no. 2065.
Lloyds TSB Scotland plc Registered office: Henry Duncan House, 120 George Street, Edinburgh EH2 4LH. Registered in Scotland no. 95237.
Authorised and regulated by the Financial Services Authority under numbers 119278 and 191240 respectively.
Licensed under the Consumer Credit Act 1974 under registration numbers 0004685 and 0198797 respectively.
We subscribe to The Lending Code; copies of the Code can be obtained from www.lendingstandardsboard.org.uk