Question to the Department for Business and Trade:

To ask His Majesty's Government what estimate they have made of (1) the total value and percentage rate of fraud and error, (2) the number and value of loans flagged for suspected fraud, (3) the number and value of guarantee claims paid on loans with fraud indicators, and (4) the total value of recoveries to date, for the (a) Coronavirus Business Interruption Loan Scheme, (b) Coronavirus Large Business Interruption Loan Scheme, and (c) Recovery Loan Scheme.

The Recovery Loan Scheme 1 & 2, Coronavirus Business Interruption Loan scheme (CBILS) and Coronavirus Large Business Interruption Scheme (CLBILS) are now closed.

Coronavirus Business Interruption Loan scheme

As at 31 December 2024, lenders have identified facilities with an aggregate drawn value of £55.44m as suspected fraud. This equates to 0.21% of the total drawn down value.

As at 31 December 2024, a total of £0.02 billion has been settled (paid under the Government backed guarantee) with a suspected fraud flag. Recoveries figures are not published.

Coronavirus Large Business Interruption Scheme

As at 31 December 2024, no CLBILS loans subject to the guarantee have been flagged as suspected fraud by lenders.

Recovery Loan Scheme

As at 31 March 2025 lenders have identified 92 RLS 1&2 facilities with an aggregate drawn value of £32.84m as suspected fraud. This equates to 0.46% of the total number of drawn facilities and 0.76% of the total drawn value.

Lenders have currently identified 18 RLS 3 facilities with an aggregate drawn value of £5.04m as suspected fraud. This equates to 0.12% of the total number of drawn facilities and 0.21% of the total drawn value.

The number and value of guarantee claims paid on RLS facilities with fraud indicators is not published. Recoveries figures are not published.