Businesses across the UK have benefitted from 1,670,939 government-guaranteed loans worth £79.3bn, new government statistics have revealed.
These loans helped support their cashflow during the COVID-19 crisis through schemes delivered by the British Business Bank.
This includes 1,560,309 loans worth £47.36bn through the Bounce Back Loan Scheme (BBLS), 109,877 loans worth £26.39bn through the Coronavirus Business Interruption Loan Scheme (CBILS), and 753 loans worth £5.56bn through the Coronavirus Large Business Interruption Loan Scheme (CLBILS). The three schemes all closed on 31 March 2021.
New data also published by the British Business Bank revealed the detailed regional and sectoral distribution of loans under the CBILS and bounce back loans under the BBLS. This data shows that the proportion of overall loans in each of the nine English regions and three Devolved Nations has closely matched their respective share of the UK business population.
The North West reported the largest usage of the CBILS and BBLS (11%) outside London and the South East (34%), ahead of the East of England (10%).
British Business Bank CEO, Catherine Lewis La Torre, said: “The COVID-19 loan schemes have been an important part of the government’s response to the pandemic, providing businesses with much-needed breathing space and reducing cash-flow concerns for many.
“We’re pleased to see evidence that they have helped smaller businesses right across the UK and look forward to helping more businesses to prosper and grow as we look towards economic recovery.”
Latest News
-
Tories pledge to scrap stamp duty on primary residencies
-
Economic climate taking emotional toll on three in four consumers
-
IMLA warns Chancellor not to hike taxes in housing market in Budget
-
Lloyds announces full acquisition of SPW
-
IFA enquiries surging in build-up to Budget
-
Three in five cash ISA savers would consider stocks and shares alternative
NEW BUILD IN FOCUS - NEW EPISODE OF THE MORTGAGE INSIDER PODCAST, OUT NOW
Figures from the National House-Building Council saw Q1 2025 register a 36% increase in new homes built across the UK compared with the same period last year, representing a striking development for the first-time buyer market. But with the higher cost of building, ongoing planning challenges and new and changing regulations, how sustainable is this growth? And what does it mean for brokers?
The role of the bridging market and technology usage in the industry
Content editor, Dan McGrath, sat down with chief operating officer at Black & White Bridging, Damien Druce, and head of development finance at Empire Global Finance, Pete Williams, to explore the role of the bridging sector, the role of AI across the industry and how the property market has fared in the Labour Government’s first year in office.
Does the North-South divide still exist in the UK housing market?
What do the most expensive parts of the country reveal about shifting demand? And why is the Manchester housing market now outperforming many southern counterparts?
In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance, to explore how regional trends are redefining the UK housing, mortgage and buy-to-let markets.
In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance, to explore how regional trends are redefining the UK housing, mortgage and buy-to-let markets.
The new episode of The Mortgage Insider podcast, out now
Regional housing markets now matter more than ever. While London and the Southeast still tend to dominate the headlines from a house price and affordability perspective, much of the growth in rental yields and buyer demand is coming from other parts of the UK.
In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance.
In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance.
© 2019 Perspective Publishing Privacy & Cookies
Recent Stories