Bounce Back Loan Scheme and Coronavirus Business Interruption Loan Scheme

Department for Business, Energy and Industrial Strategy written question – answered on 12th February 2021.

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Photo of Esther McVey 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.

Photo of Paul Scully 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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