Bounce Back Loan Scheme: Insolvency

(asked on 11th February 2021) - View Source

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

To ask the Secretary of State for Business, Energy and Industrial Strategy, how many firms who received a Bounce Back Loan since the introduction of that scheme, have filed for insolvency.


Answered by
Paul Scully Portrait
Paul Scully
This question was answered on 26th February 2021

The Department does not currently hold this data. Borrowers under the Bounce Back Loan Scheme are not required to make repayments for the first 12 months of their loan term.

When repayments begin, we will be able to monitor the rates of business failure among borrowers through assessing the number of claims by lenders under the guarantee agreement.

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