Lloyds TSB Commercial Finance Business Advice

We were recommended lloyds finance by our bank manager as an alternative to an overdraft.

We were told it would cost around 500 a month

However it actually cost 4 times this amount and if you ask for a breakdown of charges they send you a printout that steven hawkins would have trouble wunderstanding..

They contact the client without approval which again they promised not to do.

This is a cynical moneymaking exercise which along with lloyds requesting the

repayment of overdrafts and loans is reflected in their latest figures.

Please avoid at all costs as we have subsequently found out our manager left shortly after we started this service for a position with...LLOYDS FINANCE.

Clients hate to deal with them and it will cost you work.

Factoring Services from the above is simply a head ache that no MD needs at this difficult time business wise at the moment from the cash allocation team right the way through to the account managers, no one person is accountable and money is held in numerous suspension accounts for months. This is until you advise them that you have been informed of a payment by your customer and then they miraculously find it notably we have had one payment of over 10K on suspense account for over 2 months and one payment for 4K that was on there for 30 days before we were informed by our customers that invoices we were chasing had in fact been paid.

Unfortunately i am still within my contract with the above that is why i want to remain anonymous for the time being.

I have nothing good to say about the above I wish that I had never signed a contract with them. They do not understand simple accounting, CIS Tax and invoice allocation at all. My relationship with the above has cost me numerous good customers a huge amount of money in charges and a whole lot of time correcting their mistakes.

Stay away from Lloyds TSB CF. They will destroy your business and then try to destroy you. Cashflow increase at first is fabulous, allowing payment of suppliers early etc. However once your hooked they stop funding. The mismatch payments you get into arguments with your clients as they say they have paid you buit Lloyds say they have not. After all this they then stop funding they ask you to send copy invoices to your client and when you do they terminate the agreement as you have duplicated invoices. Then charge you £9000.00 for the privilege of termination.

They are now suing me for £40000.00 but the ledger only has £20000.00 on it.

Stay away from them they are destroyers of business. So much for helping small businesses

We undertook this service to improve our cash flow, we wre assured that they were flexible and that they could handle staged payments. An essential fir our business.

After three months they have disqualified over 40K of our invoices because they have been issued against "non completed works ie a part of a staged invoice agreement. They have refused to fund our major client because we have an ongoing contract with them and our client did not want to break this down to little parts,and they have charged us £50 to tell us off for our client paying us rather than them direct (an action which was out of our control).

Every time try to contact them the client manager has childcare issues and our sales contact just says its our fault. After watching my cash flow become chronic as a result of their "service" I'm off to the FSA

we joined lloyds tsb commercial finance after a few invoices they stopped funding we emailed them rang no reply advised by business manager to cacel after four months which we did. we got letter saying we owed them £8.000 our turnover was £16.000 per annum. they took us to court and made us bankrupt.and they are now taking my home.we have been left broken and penniless at the age of 67years the debt has now spirralled to £91.000 they will drain any business with charges

warning stay away from lloyds c/f they bled us dry kept all we earned and for a few months work still said we owed them £ 8000 after we cancelled dragged thro the courts at 65 and the costs have now esculated to £91.000 stay well away

Lloyds TSB Commercial Finance is a Simple site with clear navigation allowing you to find what business finance products Lloyds can offer.