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CBILS – Up to date lending statistics and other delivery updates

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.

This piece is designed to accompany background information on CBILS , CLBISBBLS and the Future Fund.

For our guidance on making an application to CBILS please see:

Latest Business bounce back loan scheme (BBLS), CBILS and the large business (CLBIS) statistics – 2 June 2020

This week’s statistics have come from the 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 facilitiesCumulative number of applications
BBLS 21.29 (15%)699,354 (15%)873,192 (104k)
CBILS8.92 (9%)45,843 (7%)89,724 (5k)
CLBILS1.1 (34%) 191 (24%) 579 (77)
Total31.31 (14%)745,388 (14%)963,495 (109k)

  Notes:

  • the applications figure includes approved applications, those applications that are still to be processed, applications that have been declined and those applications that may turn out not to be eligible or cases where customers will decide not to proceed. For CBILS, this number will also include a number of applications that have subsequently been converted to applications for the BBLS scheme
  • figures show cumulative applications and approvals up to close of business on 24 May 2020
  • these figures include data from BBB accredited lenders shared directly with HMT by close of business on 31 May 2020

Future Fund

464 applications have been received for the Future Fund; which opened applications on 20 May 2020. “Application processes are expected to take a minimum of 21 days from initial application to funding being awarded.”  I will include the Future Fund in the above table from next week.

CBILS and BBLS accredited lenders

Arbuthnot Commercial ABL, Shire Leasing and Silicon Valley Bank to join almost 80 existing CBILS accredited lenders.

BBLS accredited lenders have remained at to 16 (these are mainly banks – a subject of another blog may the impact that BBLS may have on the alternative lending space…)

Our experience at PKF Francis Clark

I will return to my firm’s CBILS statistics next week (we have a number awaiting a decision I understand) but I am picking up from what I have seen and what I have heard from others across the firm about what we are seeing:

  1. what could be seen as a (small) second wave of applicants – which is consistent with national CBILS stats where there was an a week on week increase in new applicants. For us that has been either where a business is applying for the first time or where our input has been requested following an initial application/ approach direct from the client to an authorised lender being unsuccessful.  On one of the latter category we assisted a client to get an offer of £450k
  2. a number of applicants now looking at non-bank lenders as either an alternative to the bank or in some cases to supplement an offer from a bank
FEATURING: Richard Wadman
Richard qualified as a Chartered Accountant with KPMG in 1993. Since 2006 he has worked in Corporate Finance, firstly with the predecessor firm in Truro… read more
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