BBB support schemes delivers almost £73bn of loans during COVID crisis
The government has published new statistics that show businesses across the UK have to date benefitted from 1,593,620 government-guaranteed loans worth £72.9bn to support their cash flow during the crisis through schemes delivered by the British Business Bank.
This includes 1,500,466 Bounce Back Loans worth £45.6bn, 92,449 loans worth £22bn through the Coronavirus Business Interruption Loan Scheme and 705 loans worth £5.3bn through the Coronavirus Large Business Interruption Loan Scheme.
New figures for Bounce Back Loan Scheme Top-Ups reveal 93,216 loans have been approved valued at £830m.
In addition, figures for the Future Fund show that, to date, there has been £1.1bn worth of convertible loans approved for 1,140 companies since the fund opened for applications on 20 May. This sum has been matched by at least the same amount from third-party investors.
|Cumulative number of approved facilities||Cumulative value of approved facilities||Cumulative number of applications|
|Bounce Back Loan Scheme||1,500,466||£45.6bn||2,004,447|
|Bounce Back Loan Scheme Top-Ups||93,216||£0.8bn*||160,405|
|Coronavirus Business Interruption Loans Scheme||92,449||£22.0bn||214,513|
|Coronavirus Large Business Interruption Loans Scheme||705||£5.3bn||1,112|
The management information for CBILS, CLBILS and BBLS is reported on behalf of British Business Bank accredited lenders as shared directly with HMT by close of business on 22 February 2021. The Future Fund data is reported on behalf of the British Business Bank.