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Coronavirus loan schemes continue to support businesses evenly across the UK, new analysis shows

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  • Distribution of loans offered tracks business population of each region
  • North West reports largest usage of CBILs and BBLS outside London and the South East
  • Construction sector has received highest proportion of total loans (17%), followed by wholesale and retail (15%)

New data published today by the British Business Bank reveals the regional distribution of loans under the Coronavirus Business Interruption Loan Scheme (CBILS) and the Bounce Back Loan Scheme (BBLS). These schemes provide financial support to businesses across the UK that are losing revenue, and seeing their cashflow disrupted, as a result of the Covid-19 outbreak.

The data, published by the British Business Bank, shows that the proportion of overall loans in each of the nine English regions and three Devolved Nations matches closely their respective share of the UK business population.

The North West reports the largest usage of CBILs and BBLS (11%) outside London and the South East (34%), just ahead of the East of England (10%).

The data also provides analysis of loan uptake across sectors with construction and wholesale and retail receiving the highest proportion of total loans.

The manufacturing sector has accessed a significantly higher proportion of CBILS loans (13%) than its share of the business population (5%), with wholesale and retail (18% v 9.2%) the second most over-represented sector for CBILS uptake.

For BBLS loans, the construction sector accessed the highest number of loans (17%), broadly in line with its proportion of the business population (16%).  Wholesale and retail saw the highest proportion versus its share of business population (15% v 9%).

Catherine Lewis La Torre, Chief Executive Officer of the British Business Bank, said: “Reducing regional imbalances in access to finance for smaller businesses is a key objective of the British Business Bank. Looking towards economic recovery, we’re pleased to see the Coronavirus loan schemes continuing to support smaller businesses across the UK in accessing the finance they need to help them to keep trading and to support their future growth plans.”

Business Secretary Kwasi Kwarteng said: “These figures show very clearly that we have delivered on the solemn promise we made to support businesses across every part of the UK.

“While there are still tough times ahead, we will continue to offer all the support we can to protect jobs and keep businesses afloat so we can look to not only restart our economy, but build back better from the pandemic.”

Breakdown of loans offered by region – BBLS

RegionValue of Loans Offered (£)Number of Loans OfferedProportion of Offered FacilitiesProportion of UK Business Population
East Midlands2,684,725,52991,3486%7%
East of England4,192,234,249137,74110%10%
London9,946,815,769295,69221%19%
North East1,249,741,79544,8583%3%
North West4,512,329,695152,18811%9%
Northern Ireland1,172,538,37438,1813%2%
Scotland2,496,404,75686,0626%6%
South East6,018,627,864199,57414%16%
South West3,275,798,746116,0638%9%
Wales1,524,813,85055,0944%3%
West Midlands3,520,737,158114,7158%8%
Yorkshire & the Humber2,986,264,487101,1977%7%
Unspecified62,547,7052,0170%0%

Breakdown of facilities offered by region – CBILS

RegionValue of Loans Offered (£)Number of Loans OfferedProportion of Offered FacilitiesProportion of UK Business Population
East Midlands1,297,778,5405,2737%7%
East of England1,766,950,4647,46010%10%
London3,847,934,02112,49517%19%
North East493,314,0811,9943%3%
North West1,959,152,4727,56311%9%
Northern Ireland496,806,6831,5012%2%
Scotland982,517,6034,1446%6%
South East2,824,103,23111,26016%16%
South West1,534,026,6326,4169%9%
Wales503,355,4342,2283%3%
West Midlands1,486,023,9286,0778%8%
Yorkshire and The Humber1,260,361,1905,4158%7%
Unspecified67,328,9391900%0%

Breakdown of facilities offered by sector – CBILS

SectorValue of Loans Offered (£)Number of Loans OfferedProportion of Offered FacilitiesProportion of UK Business Population
Agriculture, Forestry and Fishing118,449,7096331%2.6%
Mining and Quarrying; Electricity, Gas and Air Conditioning Supply; Water Supply; Sewerage, Waste Management and Remediation Activities272,371,1591,0631%0.7%
Manufacturing2,621,309,6599,63913%4.8%
Construction2,548,382,38910,15614%16.6%
Wholesale and Retail Trade; Repair of Motor Vehicles and Motorcycles3,224,338,59912,66418%9.2%
Transportation and Storage694,930,8523,2384%5.8%
Accommodation and Food Service Activities1,492,059,2875,2027%3.7%
Information and Communication832,405,3393,3095%6.4%
Financial and Insurance Activities475,476,3671,0231%1.5%
Real Estate Activities567,398,0291,5902%2.1%
Professional, Scientific and Technical Activities1,898,702,7377,56211%14.6%
Administrative and Support Service Activities1,897,281,5228,01511%8.8%
Education347,425,3181,0051%5.4%
Human Health and Social Work Activities625,474,9783,0564%6.4%
Arts, Entertainment and Recreation555,144,9271,8953%5.2%
Other Service Activities330,174,9631,9183%6.1%
Unspecified18,327,384480%0.0%

Breakdown of facilities offered by sector – BBLS

SectorValue of Loans Offered (£)Number of Loans OfferedProportion of Offered FacilitiesProportion of UK Business Population
Agriculture, Forestry and Fishing1,334,800,78641,2533%2.6%
Mining and Quarrying; Electricity, Gas and Air Conditioning Supply; Water Supply; Sewerage, Waste Management and Remediation Activities343,474,22210,6721%0.7%
Manufacturing2,637,845,29682,9086%4.8%
Construction7,054,937,788238,82517%16.6%
Wholesale and Retail Trade; Repair of Motor Vehicles and Motorcycles7,722,204,866216,71815%9.2%
Transportation and Storage2,070,750,53577,9205%5.8%
Accommodation and Food Service Activities4,022,456,251112,6628%3.7%
Information and Communication1,954,932,27865,9465%6.4%
Financial and Insurance Activities392,838,47711,7561%1.5%
Real Estate Activities3,033,233,53485,5176%2.1%
Professional, Scientific and Technical Activities4,500,522,686159,28011%14.6%
Administrative and Support Service Activities3,015,111,089102,9467%8.8%
Education725,790,57731,2412%5.4%
Human Health and Social Work Activities1,738,241,46858,9634%6.4%
Arts, Entertainment and Recreation940,347,83637,7413%5.2%
Other Service Activities2,097,754,38997,9617%6.1%
Unspecified58,337,9002,4210%0.0%

Note: Regional and sectoral Coronavirus Large Business Interruption Scheme data has not been included in this analysis due to data protection and commercial considerations. Data on CBILS and BBLS schemes drawn from the British Business Bank loans portal, 10 January 2021.

A constituency-level breakdown of lending under CBILS and BBLS is available on the British Business Bank website.

Offered figures published by the British Business Bank may differ from aggregate approved figures published by HM Treasury due to a time lag between the two data sources, and since some borrowers may decide not to proceed with an approved application.

Source: British Business Bank, January 18, 2021.

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