After the death of his father in 1725, he and his older brother, Charles (1696–1741) bought the Town Mill and traded in iron. He also bought a forge in Burton upon Trent. After Charles' death in 1741, Lloyd became wealthy and in 1742 bought for £1,290 a 56-acre estate called "Owen's Farm" in the manor of Bordesley (in the area now known as Sparkbrook) on the edge of the town of Birmingham. He retained the Tudor farmhouse and built a Georgian mansion nearby which he called "Farm", now a grade II* listed building.