Question to the Department for Business, Energy and Industrial Strategy:

To ask the Secretary of State for Business, Energy and Industrial Strategy, what steps his Department is taking to increase the number of businesses that can access support from the Bounce Back Loan Scheme.

The Government continues to enhance its engagement with a broad range of trade and representative bodies, in particular SME networks, to continue to understand the impact of Covid-19 on businesses and the concerns they have.

The Bounce Back Loan Scheme is open to most businesses, regardless of turnover, who meet the eligibility criteria and who were established on or before 1 March 2020.

The Scheme is targeted at supporting those businesses who need access to finance quickly and, therefore, requires lenders to offer a standard product. It is therefore the case that the Bounce Back Loan Scheme is not suitable for all businesses.

There are a wide range of other Government measures to support public services, people and businesses through this disruption. Full details on the support available for businesses can be found on the GOV.UK website, or through contacting our business support helpline.