Lloyds provides fee free flood fund

Somerset floods
Somerset floods
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Lloyds Banking Group has announced a £250 million fund to provide fee free lending for businesses and farmers affected by the floods across Britain.

Businesses can apply through Lloyds Banking Group’s network of branches and business centres.

The fund is designed to support the working capital needs of companies and farmers and will allow them to set up, extend, or renew overdrafts and loans completely free of arrangement fees.

It will help businesses manage their way through the current conditions, for example by helping farmers fund food and shelter for livestock.

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

This has included providing immediate support by increasing overdrafts, waiving fees and providing loan repayment holidays.