Businessman celebrates

Lloyds Bank waives arrangement fees for SMEs

Lloyds Bank has launched a new offer that waives the arrangement fees for loan terms for business customers who have an annual turnover of under £1m.

The offer applies to small businesses who are planning to borrow up to £150,000, which means they could save £300 on a £20,000 loan.

With the savings, companies can instead use the funds to contribute to building their businesses to help them thrive.

Jo Harris, managing director of Lloyds Bank Retail Business Banking, said that every penny counted when starting up a new business.

“A saving of a few hundred pounds can make a big difference to a start-up. 

“Waiving our arrangement fees on term loans will benefit many of our smallest business customers to help them to grow. 

“It also sends a positive signal which should help to build confidence in the availability of finance.”

The offer runs until 9th January 2017 and will be open to customers who complete their applications prior to 9th January and draw down their loan within three months.

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