Our purpose is to support the recovery of British businesses that have been affected by the pandemic, enabling our customers to thrive and helping Britain prosper.

Helping Britain Recover
 

We are by the side of businesses as they recover. We're supporting UK business to adapt and grow, and to create quality jobs across the regions of the UK.

Here’s how we’re supporting business recovery in 2021:

We're developing recovery plans for our customers, supported by

1,100

business specialists in communities across Britain

We are supporting at least

75,000

UK businesses to start up in 2021

We're helping at least

185,000 

small businesses boost their digital capability through our Regional Academies, partnerships and digital mentoring

Supporting businesses through the Covid-19 pandemic

At Lloyds Banking Group, we’re committed to providing a swift response to the latest updates to ensure that all our stakeholders are in the know.

Stay up to date here with how we're helping customers and colleagues during the pandemic. 

Find out more

Supporting Black-led businesses

Alongside our own Race Action Plan, in December 2020 we broadened our plan to go further and work beyond our own internal boundaries by actively supporting Black communities through our partnership with Foundervine and the Black Business Network.

Read more

Sustainability support for UK businesses

To support our business customers on their sustainability journey, over 823 Lloyds Bank colleagues have undertaken training on climate change and sustainability-related risks and opportunities in collaboration with the University of Cambridge Institute for Sustainability Leadership. We are putting sustainability at the heart of our relationship teams’ support for businesses. 

Find out more about how we're financing a green future

Supporting British businesses

In  January 2020 we reiterated our pledge to support British business by once again committing to lend up to £18bn in 2020. 

As the year unfolded and the impact of coronavirus emerged, we committed to support businesses with our own £2bn Covid fund, which saw us grant more than 56,000 repayment holidays and overdraft extensions to businesses in 2020. 

Find out more

Business Banking Financial Assistance Team (BBFA)

We often hear that small businesses are the lifeblood of the UK economy, but the last year has been the most traumatic that most of them will ever experience. Many haven’t been able to open their doors since last March and their owners have lived in fear about what the future holds for them and their families. That lifeblood has needed a lifeline.

We’ve played a central role in providing financial support through the Government schemes in order to tide small businesses over. As we move on to the next phase of the national unlocking, we’ve been considering how we can continue to best help our customers through the continued uncertainty as the UK begins its recovery from the pandemic.

​​​​​​​To address these changing customer needs, we’ve formed a new Business Banking Financial Assistance Team (BBFA). The team has been set up to support business customers who are facing into the storm, and it will play a crucial part in our strategy to help Britain recover.

Contact the BBFA team on 0800 302 9946

Visit the Lloyds Bank business recovery hub

Offering information on:

  • Improving your cash flow
  • What to do if your business is falling behind on payments
  • Making changes in your business
Visit now

Gareth Oakley, Managing Director of Business Banking, talks about how our BBFA team can help support small businesses. 

“We’ve always had a team to support our business customers in challenging times, but this year we’ve expanded and developed that team so that we’re well placed to support those who need our help as they recover from the pandemic. For many businesses, repayment of the Bounce Back Loans they took out last year will seem to have come around very quickly and they’ll need a lot of guidance on what happens next and what their options are. Our goal is to have a team of excellent people, with the right skills, to support these businesses with empathy, compassion and understanding. We want to be there when they need us most and it’s very rewarding to see the difference we’re making every day.”

Sara Bayley Head of Business Financial Assistance

"The economic disruption from the pandemic is greater than anything anyone has experienced in their lifetime. The needs of our business customers are totally different to what they were just 18 months ago, so having a robust infrastructure to support them is vital. The training of this new team is crucial so that we have a consistent approach, but also so that we’re able to tailor our support to the individual circumstances of each business and what stage of the recovery journey they’re on. These customers are struggling through no fault of their own and we have an obligation to do everything we can to give them the best chance of survival."

Chris Spedding Business Banking’s Head of Recovery Programme

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News and insight
 

Robin Budenberg
19 March 2021
6 min read

Building businesses to last: four principles that can drive our recovery

Chair Robin Budenberg on the four principles he believes can drive our recovery from the pandemic in a way that creates long-term prosperity for Britain.

Read more
Gareth Oakley
Managing Director, Business Banking in Retail Bank
11 May 2021
3 min read

Closer to home: a return to local shopping

This year, we have been reminded of just how important local businesses are to our communities, especially when it comes to bringing people together and supporting regional economies.

Read more