Nigel Holland
HM Treasury coronavirus (COVID-19) business loan scheme statistics
HMT management information about the Coronavirus Business Interruption Loan Scheme (CBILS), Coronavirus Large Business Interruption Loan Scheme (CLBILS), Bounce Back Loan Scheme (BBLS) and Future Fund Scheme. Published 27 May 2020
Last updated 9 June 2020 — see all updates From: HM Treasury
Contents
- Publication plans
- Coronavirus Business Interruption Loan Scheme (CBILS)
- Coronavirus Large Business Interruption Loan Scheme (CLBILS)
- Bounce Back Loan Scheme (BBLS)
- Future Fund
Publication plans
HMT will publish management information each Tuesday for each of the four schemes (CBILS, CLBILS, BBLS, Future Fund), including:
- the total number of applications
- the number of approved applications
- the value of loans approved
The applications figure includes approved applications, those applications that are still to be processed, applications that have been declined and those applications that may turn out not to be eligible or cases where customers will decide not to proceed. For CBILS, this number will also include a number of applications that have subsequently been converted to applications for the BBLS scheme. For Future Fund, the number of applications includes only those where both a company and their lead investor have submitted information.
The CBILS scheme launched on 23 March 2020. This management information only begins from 10 May. UK Finance published data before this period on lending by UK Finance members. This information is available here.
Coronavirus Business Interruption Loan Scheme (CBILS)
| Data up to close of business | Value of Facilities Approved | Number of Facilities Approved | Total Number of Applications |
|---|---|---|---|
| 10 May | £6.09bn | 35,919 | 64,531 |
| 17 May | £7.25bn | 40,564 | 81,124 |
| 24 May | £8.15bn | 43,045 | 84,607 |
| 31 May | £8.92bn | 45,843 | 89,724 |
| 7 June | £9.56bn | 47,650 | 93,305 |
Coronavirus Large Business Interruption Loan Scheme (CLBILS)
| Data up to close of business | Value of Facilities Approved | Number of Facilities Approved | Total Number of Applications |
|---|---|---|---|
| 10 May | £0.36bn | 59 | 450 |
| 17 May | £0.59bn | 86 | 496 |
| 24 May | £0.82bn | 154 | 502 |
| 31 May | £1.11bn | 191 | 579 |
| 7 June | £1.57bn | 244 | 615 |
Bounce Back Loan Scheme (BBLS)
| Data up to close of business | Value of Facilities Approved | Number of Facilities Approved | Total Number of Applications |
|---|---|---|---|
| 10 May | £8.38bn | 268,173 | 363,646 |
| 17 May | £14.18bn | 464,393 | 581,516 |
| 24 May | £18.49bn | 608,069 | 769,137 |
| 31 May | £21.29bn | 699,354 | 873,192 |
| 7 June | £23.78bn | 782,246 | 964,414 |
Future Fund
| Data up to close of business | Total number of applications | Number of convertible loans approved | Value of convertible loans approved |
|---|---|---|---|
| 27 May | 419 | n/a | n/a |
| 31 May | 464 | n/a | n/a |
| 7 June | 533 | 53 | £55.9m |
Notes
- The management information for CBILS, CLBILS and BBLS is reported on behalf of accredited lenders. For Future Fund this is reported on behalf of the British Business Bank. HM Treasury accepts no responsibility for the accuracy of these figures.
- Figures for CBILS, CLBILS and BBLS show cumulative applications and approvals up to close of business on 7 June 2020 by accredited lenders, as reported to HM Treasury by close of business 8 June 2020.
- A full list of accredited lenders for CBILS, CLBILS and BBLS can be found here.
- Management information (MI) are not classified as statistics. The MI in this release reflects timely information and do not suffer from lag effects. However, the trend from weekly figures may show some volatility. Moreover, these are initial figures which have not been rigorously quality assured and do not include data from all accredited lenders.
- UK Finance have also previously published MI on CBILS, but this only covers accredited lenders which are members of UK Finance. This data is available here.
- Future Fund opened for applications on 20 May 2020. Provided that applicants provide the information required during the application process in a timely manner, it is expected that the process will take a minimum of 21 days from initial application to funding being made available. Convertible loans are reported as approved at the point the Convertible Loan Agreement document is issued by Future Fund for signature. The time to applicants subsequently receiving funds will depend on the speed with which they complete the documentation.
- The Code of Practice for Statistics (the Code) is built around 3 main concepts, or pillars: trustworthiness, quality, and value. The following explains how we have applied the pillars of the Code in a proportionate way.
- Trustworthiness – the figures are based on management information supplied to HM Treasury by accredited lenders for CBILS, CLBILS and BBLS and by British Business Bank for Future Fund and represent their best estimates of the published totals. To support the management of departmental business, figures have been seen in advance by ministers and officials. This is in line with the Code, where pre-release access does not apply for releases based on routine management information – as covered in paragraph 3.6 of the National Statistician’s guidance.
- Quality – the information presented is provided by accredited lenders for CBILS, CLBILS and BBLS and by British Business Bank for Future Fund based on their management information. Quality assurance processes are built in the design of the templates and the data production processes in the Treasury.
- Value – in publishing this data, we aim to support the information needs of society, parliamentarians and stakeholders. Business loan schemes are one part of the unprecedented support for public services, workers and businesses the Government has implemented to protect against the current economic emergency.