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

To ask the Secretary of State for Business, Energy and Industrial Strategy, what assessment he has made of the accuracy of reports citing delays in banks processing awards under the Bounce Back Loans scheme; and what steps he is taking to encourage banks to speed up that awards process.

The Bounce Back Loan Scheme (BBLS) was launched on 4 May to help small and medium-sized businesses to borrow between £2,000 and £50,000. The British Business Bank has not undertaken any specific assessment of reports of alleged delays in accessing BBLS facilities. The British Business Bank is however conducting a programme of audits of accredited lenders, and continues to engage with them regularly to discuss any issues with regards the operation of the scheme.

BBLS accredited lenders continue to experience high demand, but the scheme remains open to new applicants. As of 16 August, £35.47billion has been loaned via 1,174,854 facilities under (BBLS).