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CBILS – Up to date lending statistics and other delivery updates

10 Aug 2020

Loans on Ring Binder. Blured, Toned Image.

Providing the latest statistics on the Bounce Back Loan Scheme (BBLS), Coronavirus Business Interuption Loan Scheme (CBILS), Large Business Coronavirus Business Interuption Loan Scheme (CLBIS) and the Future Fund

This piece is designed to accompany background information on CBILS , CLBISBBLS and the Future Fund.

For our guidance on making an application to CBILS please see:

I am updating this blog as I have had a number of potential enquires for CBILS loans this week and also it has been revealed that ‘businesses across the South West have received a total of over £3.3bn in funding under the Government’s two largest Covid-19 loan schemes’ – see further below.

Latest Business bounce back loan scheme (BBLS), CBILS and the large business (CLBIS) statistics – 2 August 2020

This week’s statistics as reported by HM Treasury (HMT).

The percentage / absolute movement from the previous week is included in the brackets.

 

Cumulative value of approved facilities (£bn)Cumulative number of approved facilitiesCumulative number of applications
BBLS34.34 (2%)1,135,545 (2%)1,377,955 (29k)
CBILS13.08 (3%)58,595 (2%)119,248 (3k)
CLBILS3.27 (5%)482 (5%)887 (15)
Future Fund0.53537839 (23)
Total51.22 (3%)1,195,159 (2%)1,498,929 (32k)

  Notes:

  1. Figures for CBILS, CLBILS and BBLS show cumulative applications and approvals up to close of business on 2 August 2020 by accredited lenders, as reported to HM Treasury by close of business 3 August 2020.
  2. Future Fund opened for applications on 20 May 2020. Provided that applicants provide the information required during the application process in a timely manner, it is expected that the process will take a minimum of 21 days from initial application to funding being made available. Convertible loans are reported as approved at the point the Convertible Loan Agreement document is issued by Future Fund for signature. The time to applicants subsequently receiving funds will depend on the speed with which they complete the documentation.

CBILS and BBLS accredited lenders

Since the last update a number of new lenders have been added to list of accredited lenders for each of the above schemes, based on the news releases on British Business Bank website details as follows:

SchemeNew lenders accreditedTotal number of accredited lenders
CLBILSSilicon Valley Bank, BBVA, Allied Irish Bank (GB)/AIB (NI), Investec Bank plc and Mercedes-Benz Financial Services UK23
CBILSMaven Capital Partners, SatagoBank of India and FiduciamOver 100
BBLSFunding circle27

Regional statistics

 As mentioned above, for the first time we have been provided with regional statistics for borrowing of Coronavirus loan schemes.  These stats can be found via link.

Separately I received an email from contacts at British Business Bank with data for the South West, which is where I am based the headlines are:

  • BBLS: 84,000 loans worth almost £2.4bn
  • CBILS: 4,200 loans worth over £920m
  • Total funding provided to South West businesses represents 8% of the national total, in line with the relative size of the South West’s business population (10%).

I have noted there is also sectorial analysis of loans taken up which I shall look through over the weekend.

PKF Francis Clark

We are continuing to help clients with CBILS applications and are still receiving enquires in connection with BBLS and CBILS.  We are also, increasingly looking at the funding landscape post Covid-19 and I anticipate my colleagues will be covering this in a separate blog (and in forthcoming ‘Funding News’ – scheduled for later this month). In the interim, two reminders of (hopefully) useful and interesting information regarding funding and funding applications:

  1. Our e-vent, Finance 2020, is now up on our website. One section features some of the the funders and agencies involved in the delivery of above schemes as well as on broader ‘rewards, debt and equity’ market
  2. Other relevant material regarding funding application on our website includes:

Any questions for PKF Francis Clark on the matters covered please do not hesitate to contact me, your usual point of contact or my colleague whose presentation you wish to follow up on.

The post CBILS – Up to date lending statistics and other delivery updates appeared first on PKF Francis Clark.



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