Support for flood victims

Support for flood victims

On 12th February, 2014, Lloyds Banking Group announced a £250m fund to provide fee free lending for businesses and farmers, as part of a range of measures for businesses and individuals affected by the floods across Britain. The fund was open across Britain for businesses to apply through Lloyds Banking Group's network of branches and business centres.

Helping businesses

The fund is designed to support the working capital needs of SMEs and farmers and to allow them to set up, extend, or renew overdrafts and loans completely free of arrangement fees. It is there to help businesses manage their way through the conditions, for example by helping farmers fund food and shelter for livestock. It aimed to help any businesses that were unable to trade and those that were trying to get back on track.

This is in addition to a range of support already being provided by the Group, for businesses and individuals across affected regions.

Immediate Support

For affected businesses, Lloyds Banking Group can provide immediate support by increasing overdrafts, waiving fees and providing loan repayment holidays.  We have made proactive calls to impacted farming customers, providing overdrafts where required. The Group also continues to provide one percent discounts on loans to SMEs through the Funding for Lending Scheme.

Providing Support

Alongside support for businesses we have lent a hand to support impacted personal customers for whom we provided emergency payments and offered alternative accommodation where it was needed.  

Our General Insurance business redeployed specialist staff and sent our emergency response unit to affected areas, to help customers with their insurance claims and to offer practical support on the ground. We also contacted customers offering immediate support through same day bank transfers for crucial items including clothing, food and alternative accommodation.

Providing Support