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Home›Banking›HM Treasury Coronavirus (COVID-19) Business Loan Program Statistics

HM Treasury Coronavirus (COVID-19) Business Loan Program Statistics

By Lisa Scuderi
March 9, 2021
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Contents

  1. Publication plans
  2. Coronavirus Business Interruption Loan Program (CBILS)
  3. Coronavirus Large Business Interruption Loan Program (CLBILS)
  4. Bounce Loan Program (BBLS)
  5. Future Fund

Publication plans

HMT has published management information for each of the four plans (CBILS, CLBILS, BBLS, Future Fund), including:

  • the total number of applications
  • the number of approved requests
  • the value of approved loans

These devices (CBILS, CLBILS and BBLS) closed to new applications on March 31. The numbers in the rows of the table for May 31 represent the final data set with all requests received at the end of March that have now been processed. Data on the new Recovery Loan Scheme (RLS), open for applications on April 6, will be published on the British Business Bank website in due course.

The applications figure includes:

  • approved requests
  • requests that remain to be processed
  • applications refused or not eligible
  • withdrawn requests, when borrowers decide not to proceed

For the CBILS this number will also include a number of requests which were then converted into requests for the BBLS scheme.

For Future Fund, the number of applications includes only those for which a company and its lead investor have submitted information.

The CBILS system was launched on March 23, 2020. This management information does not begin until May 10. UK Finance released data prior to this period on UK Finance member loans. This information is available here.

Coronavirus Business Interruption Loan Program (CBILS)

Data until close of business Value of approved facilities Number of approved installations Total number of requests
May 10 £ 6.09 billion 35 919 64,531
May 17 £ 7.25 billion 40,564 81,124
May 24 £ 8.15 billion 43,045 84,607
May 31st £ 8.92 billion 45,843 89,724
June 7 £ 9.56 billion 47,650 93 305
June 14 £ 10.11 billion 49,247 96,492
21st of June £ 10.53 billion 50 482 98 975
June 28 £ 11.07 billion 52,275 104,569
July the 5th £ 11.49 billion 53,536 107,309
July 12 £ 11.85 billion 54,538 109,235
July 19 £ 12.20 billion 55,674 112,212
July 26 £ 12.65 billion 57,234 115,941
August 2nd £ 13.08 billion 58,595 119,248
August 9 £ 13.41 billion 59,520 121 669
August 16 £ 13.68 billion 60,409 122,885
September 20 £ 15.45 billion 66,585 142,076
October 18 £ 17.16 billion 73,094 159,277
November 15 £ 18.46 billion 77,909 173,556
December 13 £ 19.64 billion 82,618 186 522
24 january £ 20.84 billion 87,529 201 343
the 21st of February £ 22.03 billion 92,449 214,513
March 21st £ 23.28 billion 98 344 233,247
May 31st £ 26.39 billion 109 877 251 342

Coronavirus Large Business Interruption Loan Program (CLBILS)

Data until close of business Value of approved facilities Number of approved installations Total number of requests
May 10 £ 0.36 billion 59 450
May 17 £ 0.59 billion 86 496
May 24 £ 0.82 billion 154 502
May 31st £ 1.11 billion 191 579
June 7 £ 1.57 billion 244 615
June 14 £ 1.77 billion 279 661
21st of June £ 2.10 billion 315 709
June 28 £ 2.33 billion 359 745
July the 5th £ 2.58 billion 394 783
July 12 £ 2.73 billion 412 809
July 19 £ 2.89 billion 428 831
July 26 £ 3.10 billion 457 872
August 2nd £ 3.27 billion 482 887
August 9 £ 3.40 billion four hundred ninety seven 896
August 16 £ 3.50 billion 516 938
September 20 £ 3.84 billion 566 992
October 18 £ 4.57 billion 623 1,034
November 15 £ 4.84 billion 658 1,065
December 13 £ 4.97 billion 675 1,077
24 january £ 5.14 billion 696 1,091
the 21st of February £ 5.29 billion 705 1,112
March 21st £ 5.30 billion 716 1 130
May 31st £ 5.56 billion 753 1,152

Bounce Loan Program (BBLS)

Data until close of business Value of approved facilities Number of approved installations Total number of requests
May 10 £ 8.38 billion 268 173 363 646
May 17 £ 14.18 billion 464,393 581,516
May 24 £ 18.49 billion 608,069 769,137
May 31st £ 21.29 billion 699 354 873 192
June 7 £ 23.78 billion 782,246 964,414
June 14 £ 26.34 billion 863 584 1,057,130
21st of June £ 28.09 billion 921 229 1,123,683
June 28 £ 29.51 billion 967,321 1,186,006
July the 5th £ 30.93 billion 1,013,410 1,240,701
July 12 £ 31.70 billion 1,047,611 1,282,639
July 19 £ 32.79 billion 1,084,153 1,316,970
July 26 33.68 billion pounds sterling 1,113,312 1,349,051
August 2nd £ 34.34 billion 1,135,575 1,377,955
August 9 £ 34.96 billion 1,157,296 1,404,726
August 16 £ 35.47 billion 1,174,854 1,430,017
September 20 £ 38.02 billion 1,260,940 1,552,727
October 18 £ 40.20 billion 1 336 320 1,660,845
November 15 £ 42.18 billion 1,397,475 1,766,768
December 13 £ 43.54 billion 1,431,987 1 887 967
24 january £ 44.74 billion 1,471,001 1 953 564
the 21st of February £ 45.61 billion 1,500,466 2,004,447
March 21st £ 46.53 billion 1,531,095 2,056,587
May 31st £ 47.36 billion * 1,560,309 2,094,858

* The value of approved BBLS facilities includes BBLS loans that have been ‘reloaded’ – that is, as announced on November 2, BBLS borrowers who have taken out less than their maximum under the program rules (the less than £ 50,000 or 25% of their turnover) when they first apply for credit can top up their credit up to the maximum. As of May 31, 106,660 BBLS refills have been approved for a value of £ 0.95 billion

A completed loan will always be declared as a loan to avoid double counting the number of approved facilities. (e.g. if there were previously two installations worth £ 40,000 each and one was subsequently completed up to £ 50,000 this would now be reported as two installations worth total of £ 90,000).

CBILS and BBLS data by district

British Business Bank Statistics

Future Fund

Data until close of business Total number of applications Number of convertible loans approved Value of Convertible Loans Approved
May 27 419 n / A n / A
May 31st 464 n / A n / A
June 7 533 53 £ 55.9 million
June 14 577 155 £ 146.0 million
21st of June 623 252 £ 236.2 million
June 28 674 322 £ 320.6 million
July the 5th 722 376 £ 379.9 million
July 12 750 429 £ 419.6 million
July 19 781 465 £ 468.7 million
July 26 816 510 £ 512.9 million
August 2nd 839 537 £ 534.0 million
August 9 868 565 £ 562.3 million
August 16 902 590 £ 588.3 million
September 20 1,072 711 £ 720.0 million
October 18 1,243 745 £ 770.8 million
November 15 1325 874 £ 875.8 million
December 13 1,432 971 £ 975.5 million
24 january 1925 1,055 £ 1,066.6m
the 21st of February 2 206 1140 £ 1,124.3 million
June 30th 2 206 1 190 £ 1,136.7 million

The Future Fund closed its doors on January 31, 2021 and is no longer accepting new applications.

Remarks

  1. 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.
  2. The figures for CBILS, CLBILS and BBLS show the cumulative requests and approvals up to the close of business on May 30, 2021 by accredited lenders, as reported to the Treasury at the close of business on May 231, 2021.
  3. A complete list of accredited lenders for CBILS, CLBILS and BBLS can be found here.
  4. Management information (MI) is not classified as statistics. The IM of this version reflects up-to-date information and does not suffer from lag effects. However, the trend of the weekly figures may show some volatility. In addition, these are initial figures that have not been subject to rigorous quality assurance and do not include data from all accredited lenders.
  5. UK Finance has also previously published MI on CBILS, but this only covers accredited lenders who are members of UK Finance. These data are available here.
  6. Future Fund opened for applications on May 20, 2020. Provided applicants provide the required information during the application process in a timely manner, the process should take at least 21 days between initial application and release to the funding. Convertible loans are declared as approved at the time the convertible loan agreement document is issued by Future Fund for signature. The time allowed for applicants to receive funds thereafter will depend on how quickly they complete the documentation.
  7. The Code of Good Practice for Statistics (the Code) is built around 3 main concepts, or pillars: reliability, quality and value. The following explains how we applied the pillars of the Code in a proportionate manner.
  • Reliability – figures are based on management information provided to HM Treasury by accredited lenders for CBILS, CLBILS and BBLS and the British Business Bank for Future Fund and represent their best estimates of published totals. To support the management of ministerial affairs, figures have been seen in advance by ministers and officials. This is in line with the Code, where pre-release access does not apply to releases based on routine management information – as stated in paragraph 3.6 of the National Statistician’s guidelines.
  • Quality – the information presented is provided by lenders accredited for CBILS, CLBILS and BBLS and by the British Business Bank for Future Fund on the basis of their management information. Quality assurance processes are integrated into the design of models and data production processes within Treasury.
  • Value – by publishing this data, we aim to meet the information needs of society, parliamentarians and stakeholders. The business loan programs are part of the unprecedented support for utilities, workers and businesses that the government has put in place to protect against the current economic emergency.

See more statistics on coronavirus financing for businesses and the self-employed here.

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