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News

UK-based businesses benefit from government-backed loan schemes

Monday 10 August 2020 10:06 CET | News

The British Business Bank has announced that the regional distribution of loans under the CBILS and the BBLS matches the respective share of UK businesses in each region. 

London and the South East came out on top, with a collective 33% and 34% share in CBILS and BBLS loans respectively. London is home to 19% of the UK’s businesses and those based in the capital received a 17% of the total share of CBILS loans, which came to over GBP 2 billion in total. Businesses in the South East received a 16% share of CBILS loans, totalling more than GBP 1.5 billion, and equalling the region’s total share of businesses based there.  

For BBLS-backed loans, London businesses received nearly GBP 7 billion collectively and South East-based businesses collected just shy of GBP 4.4 billion. Outside of London and the South East, the East of England received the most CBILS loans, receiving 11% in total, whereas the North West received the highest proportion BBLS, again an 11% share, according to AltFi. 

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Keywords: UK, businesses, government backed loan, loan schemes, British Business Bank, CBILS, BBLS, loans, London, South East, East of England, North West
Categories: Banking & Fintech
Companies:
Countries: United Kingdom
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Banking & Fintech

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