Coronavirus Business Interruption Loan Scheme
(asked on 5th May 2020) - View Source
Question to the Department for Business, Energy and Industrial Strategy:
To ask Her Majesty's Government how many businesses have had a Coronavirus Business Interruption Loan application (1) approved, and (2) rejected.
Answered by
Lord Callanan
Parliamentary Under Secretary of State (Department for Energy Security and Net Zero)
As of 6 May, in total over £5.5 billion worth of loans have been issued under the Coronavirus Business Interruption Loan Scheme (CBILS) to 33,812 businesses. Lenders have received 62,674 completed applications.
In order to minimise administrative burden and therefore facilitate the issuing of as many loans as possible, the British Business Bank’s system only gathers data from lenders when loans are offered and drawn. Decisions on whether to capture information relating to rejected loans are at the discretion of the lender.
We are working with the British Business Bank, HM Treasury and the lenders on providing transparent and regular data publication going forward.