Esther McVey
Conservative, Tatton
To ask the Secretary of State for Business, Energy and Industrial Strategy, what proportion of (a) Coronavirus Interruption Business Loan applications and (b) Bounce Back Loan applications have been declined.
Paul Scully
Parliamentary Under-Secretary (Department for Business, Energy and Industrial Strategy), Minister of State (London)
A breakdown on the number of loans provided through the Coronavirus Business Interruption Loan Scheme and the Bounce Back Loan Scheme, as of 24 January 2021, are provided in the table below.
Scheme | Number of Facilities Approved | Value of Facilities Approved | Total Number of Applications |
Coronavirus Business Interruption Loan Scheme | 87,529 | £20.84 billion | 201,343 |
Bounce Back Loan Scheme | 1,471,001 | £44.74 billion | 1,953,564 |
The applications figure include: approved applications; applications that are still to be processed; applications that have been declined; and applications that may turn out not to be eligible or cases where customers will decide not to proceed.
Decisions on whether to specifically capture information relating to declined loans are at the discretion of the lender.
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