William Lloyd was born in Poplar, Middlesex, England in the summer of 1883. He was the son of William Lloyd (b. 1856 in Britwell, Oxfordshire) and Emily Collis (b. 1861 in Finchampstead, Berkshire), who were married in Reading, Berkshire in 1880.

William had six known siblings: Mary (b. 1881), Gilbert (b. 1889), Arthur (b. 1891), Emily (b. 1894), Lavinia Ellen (b. 1895) and May Florence (b. 1898).

William first appears on the 1891 census with his family whilst they were living at 129 Amity Road, St Giles, Reading and his father was described as a gas stoker.

His mother Emily passed away in 1899 and his father was remarried the following year on the Isle of Wight to Blanche Lydia Smith (b. 1865 in Bembridge, Isle of Wight) who already had a son, Herbert John (b. 1890) from a previous relationship. William is not present with his family on the 1901 census whilst they were living at New Road, Hurstpierpoint, Sussex. William would later gain four step-siblings: Leonard Wilfred (b. 1901), Blanche Winifred (b. 1902), Doris Edith (b. 1904) and Ruby Lena (b. 1907).

On the 1911 census William is again absent, perhaps at sea, but his family are by now living at Elson Road, Gosport, Hampshire.

When Lloyd signed on to the Titanic he gave his address as 18 Orchard Place, Southampton (a boarding address). His last ship had been the Dunottar Castle (?). Lloyd and his colleagues Geer, Witt, Kinsella, Black, and Hosgood were taken on at the last minute after six of the "signed-on" crew arrived late for sailing. As a fireman he could expect monthly wages of £6.

Lloyd died in the sinking. His body, if recovered, was never identified.