How much money has been borrowed through the Bounce Back Loan Scheme.
After reading and hearing about the Bounce Back Loan Scheme for the last few months, have you wondered how many people have used the facility and how much has been borrowed. As at 15th November 2020, there had been:
1,766,768 Applications for Bounce Back Loans
1,397,475 Bounce Back Loans Issued
£ 42.18 Billion borrowed
With 20% of facilities being offered to London Businesses. this is comparable to the 19% of the business community being based here.
The smallest region being the North East with 3% of the facilities being offered. Interestingly, when you look at the data there is a direct correlation between facilities granted and the business community in each region, further re-inforcing the cross sector impact on business across all regions of Great Britain.
*The value of BBLS facilities approved includes the extra value from a BBLS loan which has subsequently been ‘topped-up’ to a higher amount. 1 topped up loan will still be reported as 1 loan to avoid double counting the number of facilities approved. (e.g. if there were previously 2 facilities worth £40,000 each and subsequently 1 had been topped up to £50,000, this would now be reported as 2 facilities worth a total of £90,000). It was announced on 2nd November that BBLS borrowers who took out less than their maximum under the scheme rules (the lesser of £50,000 or 25% of their turnover) in their first loan application will now be allowed to top-up their loan up to the maximum. Separate details on the number and value of top-ups approved will be published in future publications.