A midfielder, Lloyd began his senior career at First Division club Chelsea. He failed to break into the first team before joining Fulham in December 1968, in a player-exchange deal which saw John Dempsey move to Chelsea for a £70,000 fee. Lloyd made 286 appearances and scored 30 goals during seven-and-a-half seasons at Craven Cottage and captained the club to promotion from the Third Division in the 1970–71 season. He was an unused substitute during the 2–0 1975 FA Cup Final defeat to West Ham United. Lloyd wound down his career with spells at Hereford United, Brentford and Houston Hurricane, before retiring in 1978.