Excellent business loan and calculator available from Lloyds TSB
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Whatever your business needs capital for, whether it's to buy new machinery, expand the premises or boost the cash flow, the business loan and calculator from Lloyds TSB can help you out.
The business loans available from Lloyds TSB are extremely flexible and are just what's needed in the tough economic climate that prevails in the UK today. Any amount over £1000 can be borrowed by business owners and you can take up to 30 years to repay the loan.
There are two main types of business loan you can apply for with Lloyds TSB. One is the bank rate linked loan and the other is a fixed interest rate loan. Repayments on the bank rate linked will fluctuate with the national interest rate, while payments on the fixed interest rate will remain constant throughout the repayment plan.
If you think that it's going to take a while for the business to start reaping the benefits of the loan, you can take a repayment holiday, where you postpone repayments on the loan for a period of time.
Before applying for a business loan from Lloyds there are some things that you need to decide on first. They are how much you would like to borrow, what the loan will be used for and how long you would like to take to repay the loan. Using the business loans calculator on the Lloyds website is a great way of helping you do this.
There are a few basic conditions that you need to satisfy to qualify for a business loan from Lloyds - mainly that you're over 18, have legal ownership of the business and the finance will be used solely on the business.