Lloyd joined Liverpool from Plymouth Argyle in May 2011 and became a regular starter for Liverpool Under-21s during the 2012-13 season. On 12 May 2013, his solid performances earned him a place on the first-team bench as an unused substitute in a Premier League victory over Fulham. The imposing centre-back became Under-21s captain during the 2013-14 season and retained the armband for the first half of the 2014-15 campaign before passing it on to Cameron Brannagan when multiple loan spells in early 2015 limited his playing time with the Under-21s.
Lloyd signed a one-month loan deal with Cheltenham Town on 1 January 2015 and made his senior debut for them two days later. During the first quarter of 2015, he made a total of 17 appearances in League Two, six for Cheltenham, where he stayed for a total of six weeks after the loan spell was initially extended for another month but then cut short due to a change of manager, and another eleven for Accrington Stanley during a one-month loan in March, scoring one goal.
On 10 July, 2015, it was confirmed that Lloyd had joined Blackpool on loan.