Founded in Birmingham in 1765, Lloyds Bank is a British retail and commercial bank with more than 45,000 employees and 22 million current account customers. The Lloyds Banking Group Retail is the UK’s largest provider of its kind an is continually diversifying its portfolio with dynamic, flexible and innovative new financial services for businesses and private customers alike.
Getting the funding for business expenses has never been easier, thanks to the myriad of companies offering a number of different types of funding and funding options. This means that when you need small business funding, you can choose from a number of different types of loans, terms, and rates. At Donkey Finance, we work hard to provide alternative business funding for our customers who aren’t able to get the business finance that they need through companies like Lloyds Bank so that our customers aren’t ever without the capital that they need to make their business dreams come true.
Lloyds Bank offers a number of different types of business funding for their customers to choose from, including overdraft protection, regular business loans, invoice financing, mortgages, lending schemes, and asset finance. Because of this, customers have to be able to choose exactly what type of finance for business will best benefit them when they apply. This is where we really stand out, as we make it significantly easier for you to get the loan and the money that you need without having to make decisions about the right type of small business finance for you.
While Lloyds Bank offers new business finance and has a section on their website where you can get a quote in a few minutes, at Donkey Finance, we not only offer you the money that you need to keep your business running the best it can, but we also offer approval within 24 hours. This means that no matter whether you need new business funding, or your company has been around for a while, we can provide you with the loan that you need in a very short period of time, which reduces the stress that you feel when you are faced with bills.
Like Lloyds Bank, we offer business start up funding and provide fully FCA regulated loans, but we offer financing up to £200k. What this means for you is that you can get more money so that you can pay your bills, make investments, or grow your company in the ways that you think are best. While Lloyds Bank offers a capped base rate loan up to £1,000,000, they do not offer other loan options that are as large or as easily obtained as ours are, which means that when you work with us, you get the financing that you need on your terms.
A commercial loan is a loan borrowed by a company to pay for financial needs. Commercial loans are short-term and may be renewable once matured. A commercial loan is used to fund capital needs; that is, needs for operations and other activities of the company. A commercial loan can be obtained from a credit union or bank. Generally, the assets of the business are used to secure the loan. To qualify for a commercial loan, the business must be seen as a good credit risk. Commercial loan officers scrutinise different tax and financial statements, plus a business plan, to determine how good a credit risk the business is.
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