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

To ask the Secretary of State for Business, Energy and Industrial Strategy, whether he has made an assessment of the potential merits of providing financial support to businesses that are unable to access the Bounce Back Loan Scheme because of a low turnover in the last financial year.

The Bounce Back Loan Scheme (BBLS) is available to most UK-based businesses, regardless of turnover, who meet the eligibility criteria and who were established on or before 1 March 2020.

However, a business in agriculture, aquaculture or fisheries may not qualify for the full amount if it is a ‘business in difficulty’ as of 31 December 2019. Similarly, if classed as a ‘business in difficulty’ the loan cannot be used for export-related activities.

The size of the loan that is available to a business is linked to its turnover. Small and medium-sized businesses can borrow between £2,000 and up to 25% of their turnover. The maximum loan available is £50,000.