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Financial worries

Businesses are facing huge challenges right now. Many are struggling with higher inflation, higher energy and fuel costs, as well as supply issues. If this sounds familiar, we want you to know that we’re here to help you and your business.

Businessman looking at mobile phone

Pay As You Grow

Pay As You Grow

Additional support for businesses with a Bounce Back Loan, giving you flexibility and more time to pay back your loan should you need it. 

More about Pay As You Grow

Our four promises to all business customers

Contact

We’ll contact you if we spot that your business might be struggling. But you don’t need to wait for us to contact you. If you’re worried call us right away. The sooner we know, the more likely it is we can help get you back on track.

Understand

We’ll work with you to understand your situation. Someone in our team will talk with you to get a better picture of your business and the challenges you're facing.

Support

We’ll agree support options with you. As well as financial assistance, speaking with our colleagues may help you consider other steps you can take to aid your recovery.

Check in

We’ll check in with you if we think you might need more support. We'll get in touch so that we can see what options are available.

Support you can expect from us

1. First stage support

If you have a Relationship Manager you can get in touch with them directly. If you don’t, contact the Business Management team – they will guide you to the right support area depending on your situation.

2. Second stage support

Once you’ve had that initial conversation it may become clear more help is needed. If so, one of our business support teams will step in. They are dedicated to helping customers just like you. They’ll work with you to understand your situation and put together the right support plan for your business.

To do that, they will need some details about your business. We can help you get hold of that information if needed.

3. Final stage support

Once you’ve had that initial conversation it may become clear more help is needed. If so, one of our business support teams will step in. They are dedicated to helping customers just like you. They’ll work with you to understand your situation and put together the right support plan for your business.

To do that, they will need some details about your business. We can help you get hold of that information if needed.

We're here to help with your business

The Lloyds Bank Business Support Unit shares their guidance on how they can help with managing financial worries.

Some concerns you may have

I'm worried that if I tell you about the problems my business is having, you'll withdraw my loan or cut off future credit. 

We're here to help - not to hinder you. We'll talk through your situation to understand it, and then provide support where we can. As a responsible lender we need to ensure the funding available to our customers is appropriate to their individual circumstances. So we'll work with you to understand your circumstances and tailor funding appropriately.
 

I'm concerned if I tell you about my money worries, it may hinder my ability when trying to obtain credit elsewhere?

We're here to help. Talking to us, or an independent organisation, won't affect your credit file.  If any of the options may affect your credit file and hinder your ability to gain credit, then we’ll explain what this means for you before we agree anything.
 

My account is in debt recoveries. What do I need to do? 

You should have been contacted by our debt recovery team, Recoveries Commercial Banking, or an appointed Debt Collection Agent to explain the next steps. If you want to get in touch with them please contact the number on your letter quoting the reference number.  If you don't have this information, please contact us on  0345 072 5555.
 

I'm worried about having to deal with a debt collection agency.

We sometimes ask Debt Collection Agencies to help our customers find a way to repay money they owe.  The Agencies we use are very experienced in helping customers do this.   They are acting on our behalf and will always treat you fairly and sensitively.
 

I'm worried that someone will turn up at my door and demand money.

No-one acting on our behalf would ever turn up unannounced demanding money.

 

Build mental resilience

Developed in partnership with Mental Health UK, our new hub page provides tips and guidance for improving mental health and building resilience to help set you and your business up for success. 

How to build mental resilience

Early warning signs of financial difficulty

By knowing what to look out for, your business will have more time to react to any problems.

Learn more about early warning signs

Insolvency

Read this guide to learn more about corporate and personal insolvency processes in the UK.

Learn more about insolvency

Worried about your personal finances?

There's things we can do together to help you manage your money.

Take a look

Get in touch

If you have a Relationship Manager, please reach out to them directly. If not, you can call our Business Banking Financial Assistance Team on 0800 302 9946. Our lines are open Monday to Friday, from 8am to 5pm, excluding bank holidays.

If you have a hearing or speech impairment you can use Relay UK. More information on the Relay UK service can be found at https://www.relayuk.bt.com.

  • There are some great charities and other organisations that can help with issues ranging from financial advice to mental wellbeing.

    Business Debtline

    Business Debtline is the UK’s only free dedicated debt advice service for people who are self-employed and other small business owners.

    Federation of Small Businesses (FSB)

    The FSB is non-profit making organisation promoting and protecting the interests of the self-employed and owners of small firms by offering access to services which help you protect your business, can save you money and those that can help you look to grow your business.

    MoneyHelper

    MoneyHelper has been set up by the government to provide free and impartial money advice in person, over the phone and online. They offer guides to help improve your finances along with tools and calculators to help you keep track and plan ahead.

    UK Finance

    UK Finance is the leading trade association for the UK banking sector with their core priorities in helping customers both consumers and business, promoting growth and raising standards. Providing information on the current economy and providing a variety of training workshops and events.

    Step Change (Debt Charity)

    Step Change offers free debt advice that is based on a thorough review of your situation. They will then provide practical help and support for however long it’s needed.

    Business Emergency Resilience Group 10 Minute Plan

    To help businesses prepare for, respond to and recover from emergencies, Business in the Community, the charity of which Lloyds Banking Group is a member, has produced a 10 minute plan. As seen with the recent floods in Cumbria, the increasing prevalence of cybercrime and the terrorist attacks in Paris, business can be significantly disrupted. This plan provides a framework on how to manage these emergencies.

    Mental Health UK

    1 in 4 people in the UK has experienced a mental health problem. Mental Health UK brings together over 40 years of expertise from four national mental health charities to provide advice, information and support.

    Citizens Advice Bureau (CAB)

    The CAB provides free, confidential, impartial information and advice on a wide range of debt and benefits issues, face to face. Check your local phone book or Yellow Pages for the nearest Citizens Advice Bureau, or visit the Citizens Advice website for your area.

    Small Business Commissioner

    20% of small businesses have run into cash-flow problems due to late or unfair payments. The Small Business Commissioner can help smaller business handle payment problems they have with their larger business customers. They can also help with checking contracts and getting invoices right.

    If you’re a small business with fewer than 50 employees, they may be able to help you.

    National Enterprise Network

    National Enterprise Network provides help and support for new, small and growing businesses in England, with a particular emphasis on start-ups and micro businesses.

    The Insolvency Service

    The Insolvency Service is the government online resource to provide guidance on personal and company insolvency.

    The Farming Community Network

    The Farming Community Network is a voluntary organisation & charity that supports farmers and families within the farming community with personal or business-related issues. They run a confidential, national helpline and e-helpline which is open every day of the year from 7am to 11pm with volunteers who provide free, confidential, pastoral and practical support to anyone who seeks help.

    While all reasonable care has been taken to ensure that the information provided is correct, no liability is accepted by Lloyds Bank for any loss or damage caused to any person relying on any statement or omission. This is for information only and should not be relied upon as offering advice for any set of circumstances. Specific advice should always be sought in each instance.