Coronavirus loan schemes support businesses evenly across the UK

British Business Bank

Data published 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 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: “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.”

Region Value of Loans Offered (£) Number of Loans Offered Proportion of Offered Facilities Proportion of UK Business Population
East Midlands 2,684,725,529 91,348 6% 7%
East of England 4,192,234,249 137,741 10% 10%
London 9,946,815,769 295,692 21% 19%
North East 1,249,741,795 44,858 3% 3%
North West 4,512,329,695 152,188 11% 9%
Northern Ireland 1,172,538,374 38,181 3% 2%
Scotland 2,496,404,756 86,062 6% 6%
South East 6,018,627,864 199,574 14% 16%
South West 3,275,798,746 116,063 8% 9%
Wales 1,524,813,850 55,094 4% 3%
West Midlands 3,520,737,158 114,715 8% 8%
Yorkshire & the Humber 2,986,264,487 101,197 7% 7%
Unspecified 62,547,705 2,017 0% 0%

 

Breakdown of facilities offered by sector – CBILS

Sector Value of Loans Offered (£) Number of Loans Offered Proportion of Offered Facilities Proportion of UK Business Population
Agriculture, Forestry and Fishing 118,449,709 633 1% 2.6%
Mining and Quarrying; Electricity, Gas and Air Conditioning Supply; Water Supply; Sewerage, Waste Management and Remediation Activities 272,371,159 1,063 1% 0.7%
Manufacturing 2,621,309,659 9,639 13% 4.8%
Construction 2,548,382,389 10,156 14% 16.6%
Wholesale and Retail Trade; Repair of Motor Vehicles and Motorcycles 3,224,338,599 12,664 18% 9.2%
Transportation and Storage 694,930,852 3,238 4% 5.8%
Accommodation and Food Service Activities 1,492,059,287 5,202 7% 3.7%
Information and Communication 832,405,339 3,309 5% 6.4%
Financial and Insurance Activities 475,476,367 1,023 1% 1.5%
Real Estate Activities 567,398,029 1,590 2% 2.1%
Professional, Scientific and Technical Activities 1,898,702,737 7,562 11% 14.6%
Administrative and Support Service Activities 1,897,281,522 8,015 11% 8.8%
Education 347,425,318 1,005 1% 5.4%
Human Health and Social Work Activities 625,474,978 3,056 4% 6.4%
Arts, Entertainment and Recreation 555,144,927 1,895 3% 5.2%
Other Service Activities 330,174,963 1,918 3% 6.1%
Unspecified 18,327,384 48 0% 0.0%

Breakdown of facilities offered by sector – BBLS

Sector Value of Loans Offered (£) Number of Loans Offered Proportion of Offered Facilities Proportion of UK Business Population
Agriculture, Forestry and Fishing 1,334,800,786 41,253 3% 2.6%
Mining and Quarrying; Electricity, Gas and Air Conditioning Supply; Water Supply; Sewerage, Waste Management and Remediation Activities 343,474,222 10,672 1% 0.7%
Manufacturing 2,637,845,296 82,908 6% 4.8%
Construction 7,054,937,788 238,825 17% 16.6%
Wholesale and Retail Trade; Repair of Motor Vehicles and Motorcycles 7,722,204,866 216,718 15% 9.2%
Transportation and Storage 2,070,750,535 77,920 5% 5.8%
Accommodation and Food Service Activities 4,022,456,251 112,662 8% 3.7%
Information and Communication 1,954,932,278 65,946 5% 6.4%
Financial and Insurance Activities 392,838,477 11,756 1% 1.5%
Real Estate Activities 3,033,233,534 85,517 6% 2.1%
Professional, Scientific and Technical Activities 4,500,522,686 159,280 11% 14.6%
Administrative and Support Service Activities 3,015,111,089 102,946 7% 8.8%
Education 725,790,577 31,241 2% 5.4%
Human Health and Social Work Activities 1,738,241,468 58,963 4% 6.4%
Arts, Entertainment and Recreation 940,347,836 37,741 3% 5.2%
Other Service Activities 2,097,754,389 97,961 7% 6.1%
Unspecified 58,337,900 2,421 0% 0.0%