Question to the Department for Business, Energy and Industrial Strategy:

To ask the Secretary of State for Business, Energy and Industrial Strategy, (a) how many businesses have received Coronavirus Business Interruption Loan Scheme loans and (b) how many of those loans have had interest rates of 10 per cent or more.

As of 28 June, a total of 52,257 loans have been issued under the Coronavirus Business Interruption Loan Scheme (CBILS), with a value of £10.53 billion.

We are currently unable to provide a breakdown of lending by interest rate. We are considering what more detailed data on CBILS and other schemes can be published going forward.

The interest rate charged on a CBILS facility varies in line with the lender’s own policies, as would be the case with any commercial facility. However, under the terms of the State aid framework, the Government fully expects that the benefit of the guarantee under the CBILS will be passed through to the borrower.