Wow! Our recent ‘Conversation over Coffee’ on Sustainability in Business certainly got people talking! Some of the comments afterwards included: “very interesting” “great conversation” “That was…
Providing the latest statistics on the Bounce Back Loan Scheme (BBLS), Coronavirus Business Interuption Loan Scheme (CBILS), Large Business Coronavirus Business Interuption Loan Scheme (CLBIS) and the Future Fund.
With the deadline for CBILS applications being moved again we thought it timely to update the Coronavirus loan schemes statistics and update our commentary.
National Business bounce back loan scheme (BBLS), CBILS and the large business (CLBIS) statistics – 13 December 2020
This week’s statistics as reported by HM Treasury (HMT).
The percentage / absolute movement from the previous week is included in the brackets.
|Cumulative value of approved facilities (£bn)||Cumulative number of approved facilities||Cumulative number of applications|
|BBLS||43.4 (3%)||1,431,987 (2%)||1,887,967 (122k)|
|CBILS||19.64 (6%)||82,618 (6%)||186,522(13k)|
|CLBILS||4.97 (3%)||675 (6%)||1,077 (12)|
|Future Fund||0.98 (11%)||971 (11%)||1,432 (107)|
|Total||69.13 (4%)||1,516,251 (3%)||2,076,998 (134k)|
- Figures for CBILS, CLBILS and BBLS show cumulative applications and approvals up to close of business on 13 December 2020 by accredited lenders, as reported to HM Treasury by close of business 14 December 2020.
- Future Fund opened for applications on 20 May 2020. Provided that applicants provide the information required during the application process in a timely manner, it is expected that the process will take a minimum of 21 days from initial application to funding being made available. Convertible loans are reported as approved at the point the Convertible Loan Agreement document is issued by Future Fund for signature. The time to applicants subsequently receiving funds will depend on the speed with which they complete the documentation.
CBILS and BBLS accredited lenders
For a list of accredited lenders for each scheme, follow the links below:
PKF Francis Clark
We are anticipating a number of clients using the Christmas / New Year period to think about the potential opportunities and threats impacting on their business. I am sure that we will be working with a number of our clients in the new year to distil their thinking on how their business operates/ may operate into financial projections and then to consider the funding requirement and how this can be met. This funding may include BBLS (new or top up) or CIBLS (or non-government backed debt or equity or grant).
Consequently, we see some material we wrote on back in the Spring being relevant again including:
- An holistic approach to applying for Covid-19 funding
- Preparing for a CBILS application
- Top Tips for Projections (Please note forward looking information is no longer required for a CBILS application)
We shall also be maintaining contact with funders active across the region to understand their appetite for lending and investment in 2021; so that we remain well versed on the alternatives, and therefore well placed to assist our clients.
Any questions for PKF Francis Clark on the matters covered please do not hesitate to contact me or your usual point of contact.