Coronavirus loan schemes support businesses evenly across the UK

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%