Question to the Department for Business, Energy and Industrial Strategy:
To ask Her Majesty's Government whether the value of new loans extended by the British Business Bank sourced through peer-to-peer lending platforms has (1) increased, or (2) decreased, over the last three completed financial years; and what percentage of such loans were to borrowers who had already received funding from the British Business Bank.
The British Business Bank’s participation in peer-to-peer lending platforms has been primarily through the Bank’s commercial subsidiary British Business Investments. Data collected across programmes and delivery partners is consolidated on a programme-by-programme basis.
The value of new loans extended by the British Business Bank sourced through peer-to-peer lending platforms has increased year-on-year over the last three completed financial years.
Over the three year period, of the 15,420 distinct SME customers that have received financing through the peer-to-peer delivery partners of British Business Investments, 9.36% have been to repeat peer-to-peer customers[1]. The Bank does not hold data on how many peer-to-peer customers may previously have benefitted from other British Business Bank programmes.
[1] This data excludes finance through Market Invoice as a single customer could have multiple invoices funded through the platform at a time.