Business, Innovation and Skills written question – answered at on 9 December 2010.
To ask the Secretary of State for Business, Innovation and Skills how many grants made by his Department to small firms based in Reading West constituency under the (a) Small Firms Local Guarantee scheme and (b) Enterprise Finance Guarantee were of between (i) £1,000 and £5,000, (ii) £5,001 and £20,000, (iii) £20,001 and £50,000, (iv) £50,001 and £100,000, (v) £100,001 and £150,000, (vi) £150,001 and £200,000, (vii) £200,001 and £250,000, (viii) £250,001 and £500,000 and (ix) over £500,000 in each of the last five years.
The Small Firms Loan Guarantee (SFLG) and Enterprise Finance Guarantee (EFG) are loan guarantee scheme through which the Government encourages additional lending to viable small businesses by providing a Government guarantee to the lender. EFG was launched in January 2009 effectively replacing SFLG.
Between 2006/07 and 2008/09 there were 14 SFLG loans to businesses in Reading West with a value of £1.073 million. From 2009/10 to date 11 businesses in Reading West have been offered loans under EFG with a value of £725,000, of which 10 businesses have drawn down loan totalling £610,000. A full breakdown by each year follows:
Small Firms Loan Guarantee (SFLG) | ||
Loan value | Number of loans drawn | Value of loans drawn (£000) |
2006/07 | ||
£1,000 to £5,000 | 0 | 0 |
£5,001 to £20,000 | 1 | 12 |
£20,001 to £50,000 | 3 | 89 |
£50,001 to £100,000 | 1 | 56 |
£100,001 to £150,000 | 0 | 0 |
£150,001 to £200,000 | 1 | 175 |
£200,001 to £250,000 | 0 | 0 |
£250,001 to £500,000 | 0 | 0 |
£500,001 to £1 million | 0 | 0 |
Total | 6 | 332 |
2007/08 | ||
£1,000 to £5,000 | 0 | 0 |
£5,001 to £20,000 | 0 | 0 |
£20,001 to £50,000 | 3 | 95 |
£50,001 to £100,000 | 1 | 75 |
£100,001 to £150,000 | 0 | 0 |
£150,001 to £200,000 | 0 | 0 |
£200,001 to £250,000 | 1 | 250 |
£250,001 to £500,000 | 0 | 0 |
£500,001 to £1 million | 0 | 0 |
Total | 5 | 420 |
2008/09 | ||
£1,000 to £5,000 | 0 | 0 |
£5,001 to £20,000 | 1 | 17 |
£20,001 to £50,000 | 0 | 0 |
£50,001 to £100,000 | 0 | 0 |
£100,001 to £150,000 | 0 | 0 |
£150,001 to £200,000 | 2 | 304 |
£200,001 to £250,000 | 0 | 0 |
£250,001 to £500,000 | 0 | 0 |
£500,001 to £1 million | 0 | 0 |
Total | 3 | 321 |
Enterprise Finance Guarantee (EFG) | ||||
Loan value | Number of loan offered | Value of loans offered (£000) | Number of loans drawn | Value of loans drawn (£000) |
2009/10 | ||||
£1,000 to £5,000 | 0 | 0 | 0 | 0 |
£5,001 to £20,000 | 1 | 18 | 1 | 18 |
£20,001 to £50,000 | 4 | 143 | 4 | 143 |
£50,001 to £100,000 | 2 | 169 | 2 | 169 |
£100,001 to £150,000 | 1 | 150 | 1 | 150 |
£150,001 to £200,000 | 0 | 0 | 0 | 0 |
£200,001 to £250,000 | 0 | 0 | 0 | 0 |
£250,001 to £500,000 | 0 | 0 | 0 | 0 |
£500,001 to £1 million | 0 | 0 | 0 | 0 |
Total | 8 | 480 | 8 | 480 |
2010/11 | ||||
£1,000 to £5,000 | 0 | 0 | 0 | 0 |
£5,001 to £20,000 | 0 | 0 | 0 | 0 |
£20,001 to £50,000 | 1 | 30 | 1 | 30 |
£50,001 to £100,000 | 1 | 100 | 1 | 100 |
£100,001 to £150,000 | 1 | 115 | 0 | 0 |
£150,001 to £200,000 | 0 | 0 | 0 | 0 |
£200,001 to £250,000 | 0 | 0 | 0 | 0 |
£250,001 to £500,000 | 0 | 0 | 0 | 0 |
£500,001 to £1 million | 0 | 0 | 0 | 0 |
Total | 3 | 245 | 2 | 130 |
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