Question to the Department for Business, Energy and Industrial Strategy:
To ask the Secretary of State for Business, Energy and Industrial Strategy, whether he plans to take steps to ensure that fewer businesses are rejected from Coronavirus Business Interruption Loans.
Accredited lenders are responsible for providing loans under the Coronavirus Business Interruption Loan Scheme (CBILS). Decision-making on whether a business is eligible to access the CBILS are fully delegated to the accredited lenders, and individual lending decisions remain at the discretion of these lenders.
The Government has responded rapidly to feedback to ensure that companies feel the full benefits of available support through the CBILS by:
In addition to the above, the Government:
The Government will continue to monitor the schemes.