Search results for "Coronavirus Large Business Interruption Loan Scheme (CLBILS) "

Second year evaluation of Covid-19 loan schemes finds self-reported high impact on businesses saved, and positive impact on turnover and employment elsewhere

Self-reported year two survey data suggests that between 175,000 and 618,000 BBLS borrowers could have permanently closed between April 2020 and December 2021 in the absence of the schemes. The survey data also suggests that between 4,000 and 25,000 CBILS/CLBILS borrowers could have permanently closed between April 2020 and December 2021 in the absence of […]

Covid-19 loan guarantee schemes may have saved between 150,000 and 500,000 businesses and between 500,000 and 2.9m jobs, finds initial evaluation

Between 10-34% of BBLS borrowers and 7-28% of CBILS/CLBILS borrowers could have permanently ceased trading in 2020 without the schemes The Covid-19 loan guarantee schemes met their primary objectives of unlocking credit for businesses at scale and speed, and resulted in £78 billion in guaranteed loan facilities Reduction of approval times between CBILS and BBLS […]

Patrick Magee to stand down as Chief Commercial Officer and Executive Director of the British Business Bank in June 2022 after 10 years’ service

Patrick was appointed to the Shareholder Executive in June 2012 where he worked on the design and establishment of the British Business Bank.  He was made Executive Director and Chief Operating Officer of the Bank in October 2014 at the time of the Bank’s establishment. In June 2017 he was made Chief Commercial Officer. Patrick […]

Covid-19 emergency loan schemes repayment data

This update provides further analysis of the data about the government’s Covid-19 emergency loan schemes published in the Department for Business, Energy & Industrial Strategy’s Annual Report 2021 Overwhelming majority of businesses meeting monthly repayments 4% of all facilities have already been paid back in full 2% of all facilities have been subject to a […]

Data Reporting

CHANGES TO PRIVACY NOTICES FOR THE DEPARTMENT FOR BUSINESS, ENERGY AND INDUSTRIAL STRATEGY (BEIS) AND BRITISH BUSINESS BANK PLC (BBB) QUESTIONS AND ANSWERS RELATING TO DATA REPORTING TO THE EUROPEAN COMMISSION AND THE UK GOVERNMENT Updated 28 April 2021 (in respect of Q5 only) 1.   What changes have been made to the BBB and BEIS […]

Budget 2021: British Business Bank Response

Catherine Lewis La Torre, Chief Executive, British Business Bank, said: “The Chancellor has confirmed the British Business Bank’s central role in the next phase of the UK’s economic recovery from Covid-19. As businesses begin to plan for the post-Covid period, they will need targeted finance to support them. We welcome today’s announcement of two new […]

Coronavirus loan schemes extended to 31 March 2021

More businesses will now be able to benefit from the Coronavirus Business Interruption Loan Scheme (CBILS), the Coronavirus Large Business Interruption Loan Scheme (CLBILS) and the Bounce Back Loan Scheme (BBLS) and Bounce Back Loan Scheme top-ups. To date, the three schemes have supported a total of over 1.5m facilities to businesses, providing over £68 […]

Coronavirus loan schemes and Future Fund extended to 31 January 2021

The Prime Minister announced this afternoon that the government’s three Coronavirus business interruption loan schemes – the Coronavirus Business Interruption Loan Scheme (CBILS), the Coronavirus Large Business Interruption Loan Scheme (CLBILS) and the Bounce Back Loan Scheme (BBLS) – and the Future Fund will be extended to 31 January 2021. It was also announced that […]

British Business Bank confirms changes to ‘undertaking in difficulty’ guidance

To be eligible for these schemes, businesses previously had to demonstrate that they were not an ‘undertaking in difficulty’ – a requirement under EU State aid law – as of 31 December 2019. The definition of ‘undertaking in difficulty’ includes businesses that: had accumulated losses greater than half of their subscribed share capital (for limited […]

New Lenders accredited to British Business Bank Coronavirus Business Loan Schemes

365 Business Finance, FOLK2FOLK, Handelsbanken, LendingCrowd, Maxxia, and Nucleus Commercial Finance to join over 90 existing CBILS accredited lenders Close Brothers, ThinCats and HSBC Bank plc accredited under CLBILS Coutts and Arbuthnot Latham accredited to Bounce Back Loan Scheme (BBLS) Today the British Business Bank has announced that it has approved six new lenders for […]