Lloyds Bank is under investigation following claims from former clients and whistleblowers that it mismanaged small business lending after the 2008 financial crisis. Despite a £20 billion taxpayer bailout intended to support SMEs, allegations suggest Lloyds reduced lending and categorized healthy businesses as 'distressed' to recover loans aggressively, leading to many preventable closures. Business owners have criticized the Business Support Unit (BSU) for not providing adequate help. Former employees highlight an internal stance of recovering funds over supporting businesses, indicating a systemic issue rather than isolated incidents.
The approach to lending became: do not lend. Beyond that, get as much money back that we've lent as possible.
They weren't interested in saving the company.
Many of the businesses they encountered probably weren't distressed, they were salvageable.
There was a pattern; planning the administration of these entities was done in advance of reports.
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