Question to the Department for Business, Energy and Industrial Strategy:
To ask the Secretary of State for Business, Energy and Industrial Strategy, pursuant to the Answer of 24 June 2020 to Question 59769 on Future Fund, how many of the 252 convertible loans were issued to businesses in Newcastle.
On 21 July 2020 the British Business Bank published updated Future Fund data which gives a regional breakdown of 465 companies that have been approved for £468.7m worth of Convertible Loan Agreements since the scheme was launched on 20 May. This data is only available on a regional basis.
In the North East Region, 19 convertible loans have been approved, worth £18.7m. Of the total amount of £468.7m, 11% is to companies headquartered in the North (North West, North East and Yorkshire and the Humber).