Coronavirus lending schemes support over 1.5 million UK businesses

  • HM Treasury figures published today show that over 1.5 million businesses in the UK are supported through government-backed coronavirus lending schemes. 
  • The Bounce Back Loan Scheme (BBLS) has provided financing for over 1.4 million small businesses affected by the pandemic, which are now also able to 'top-up? existing loans. 
  • The Coronavirus Business Interruption Loan Scheme (CBILS) now supports over £19.6bn of lending across the UK. 
  • £4.9bn in lending to larger businesses has been supported by the Coronavirus Large Business Interruption Loan Scheme (CLBILS).

Figures published today by HM Treasury show that over 1.5 million businesses across the country are supported by the UK's banking and finance industry with a total of over £68 billion in lending through government-backed coronavirus lending schemes. 

Over 34,500 small and micro businesses have accessed a Bounce Back Loan over the past month, with more than 1.4 million enterprises receiving finance through the scheme since it launched in May. This total includes more than 62,000 businesses which have opted to 'top-up? their Bounce Back Loans to the full £50,000, or a maximum of 25 per cent of their turnover if lower, available through the scheme.  

Over 82,000 businesses have now secured facilities through the CBIL scheme, whilst the Coronavirus Large Business Interruption Loan Scheme has allowed 675 larger firms to access almost £5 billion worth of support. 

There are 28 lenders accredited to the BBL scheme, with the vast majority of businesses having an existing relationship with one of these firms. 113 lenders are now accredited to the CBIL scheme. 

Government-backed loans are just one part of the industry's plan to support businesses across the UK. Lenders continue to provide a range of additional measures, including working capital extensions, overdraft extensions and capital repayment holidays. The industry will continue to support businesses next year as they adapt to changes following the end of the Brexit transition period, and economic uncertainty persists as a result of the pandemic.

Stephen Pegge, Managing Director of Commercial Finance at UK Finance, said: 

The UK's banking and finance industry continues to support businesses of all sizes across the country to help them through these challenging times. 

?As this year draws to a close, over 1.5 million businesses are supported by a government-guaranteed loan scheme with funds totaling over £68 billion, demonstrating the unprecedented level of assistance provided to UK enterprises. Over the past nine months, bank staff have worked hard to process applications to meet extremely high levels of demand, while ensuring that the necessary anti-fraud and money laundering checks are carried out on all applications. 

?As the impact of the pandemic continues to be felt by businesses across the country and particularly in areas facing greater restrictions, the chancellor's announcement today that the application deadline for the schemes is being extended to the end of March 2021 will give more time for firms to access the finance they need. In addition, SMEs can also 'top-up' their Bounce Back Loan to the maximum value of £50,000, or 25 per cent of their turnover if lower and businesses are encouraged to contact their lender if they wish to access these additional funds from their existing loan. 

?It is important to remember that any lending provided under government-backed schemes is a debt not a grant, and so firms should carefully consider their ability to repay before applying.

Following an announcement from the chancellor this afternoon, businesses can now apply for finance under the Bounce Back Loan Scheme, Coronavirus Business Interruption Loan Scheme, or the Coronavirus Large Business Interruption Loan Scheme until the end of March 2021. These had been due to close at the end of January. 

Case Studies 

Please find a selection of case studies below which are available for interview. For further information, please contact the UK Finance press office on 020 7416 6750 or email 


Bounce Back Loan Scheme (BBLS) 

VH Innovations - Kent 

VH Innovations, an industrial kneepad product designer in Kent, secured a £20,000 BBLS loan with Santander UK to support its cashflow needs when demand for its products fell during lockdown. The company's kneepads are extensively used in the UK construction sector, which was forced to pause operations during the first lockdown. 

Josh's Chocolates - Cornwall 

Josh's Chocolates, a premium chocolatier in Cornwall, secured a BBLS loan with Santander UK which allowed the business to continue with its planned growth trajectory. The business employs one full-time member of staff and 10 casual employees, and is now able to drive volume through a website site to maximise sales and profit in the build up to Christmas.  

Dotties Nursery - Midlands 

Dotties Nursery, part of an after-school care and nursery group, secured a BBLS top-up loan from Lloyds Bank, after initially seeking additional support when demand for wrap-around school care fell when schools across the country closed. 

Coronavirus Business Interruption Loan Scheme (CBILS) 

Mous Products - East London 

Mous Products, an award-winning designer, manufacturer and retailer of technology accessories, secured a £1.7m CBILS facility with HSBC UK to support the expansion of its product portfolio and facilitate its future international expansion plans. 

The Barn - Somerset 

The Barn, a beauty salon in Somerset, has successfully used a £65,000 CBILS loan from Santander  UK to diversify its services and move online, generating £55,000 of sales in just four months during the first national lockdown. As well as as setting up the online shop and improving its website, the funds have supported the salon's re-opening with Coronavirus health and safety measures for employees and customers put in place. 

Pearce Sound and Lighting - Peterborough 

Pearce Sound and Lighting, a supplier of equipment to the events industry, secured a £250,000 CBILS loan from Lloyds Bank to support the business after its lost bookings amounting to £3.2m in the first part of the year due to lockdown. 

Other Lending 

Maniere de Voir - Manchester 

Maniere De Voir, an online fashion retailer, secured an additional finance facility with HSBC UK to facilitate the purchase of additional stock, in order to respond to increased customer demand since the start of the COVID-19 pandemic.  

The Shore Group - Hove 

The Shore Group, a Hove-based recruitment agency that provides temporary skilled workers for a range of sectors, secured a £20m invoice finance facility with Santander UK to support the business through its next phase of growth. The Shore Group will use the Working Capital Facility for day-to-day capital requirements to help the business accelerate cash flow to assist growth. 

Still Waters Green Technology - Swindon 

Still Waters Green Technology (SWGT), a leading independent battery energy storage system (BESS) asset manager in the UK used £12m in financing it secured from Santander UK to fund the development of a 30MW utility-scale, subsidy-free BESS asset in Swindon. This pioneering project supports the growth of renewable energy sources by providing up to 65GWh of annual import and export capacity to the National Grid during its Phase One development, which is critical to meeting the UK's carbon emission reduction target and Net Zero ambitions.  

OneSpray - Manchester 

OneSpray, a distributor of cleaning and disinfectant sprays, secured a six-figure loan from Lloyds Bank to support its growth during the pandemic, after it saw significant turnover growth due to increased demand for cleaning products. 

Area of expertise:

Notes to editor

<p>UK Finance is the collective voice for the banking and finance industry. Representing more than 250 firms across the industry, we act to enhance competitiveness, support customers and facilitate innovation. </p>
<p>1. HM Treasury data on lending under the CBIL, BBL and CLBIL schemes is available <a href="…;.  </p>
<p>2. Regional analysis of coronavirus loan schemes by the British Business Bank is available <a href="…;. </p>
<p>3. A list of lenders accredited to the BBL scheme can be found <a href="…;. A list of lenders accredited to the CBIL scheme can be found <a href="…;. </p>
<p>4. The banking and finance industry has put in place a clear plan to help Britain through: </p>
<ul><li>2.7 million <a href="… payment deferrals</a> </li>
</ul><ul><li><a href="… million interest-free overdrafts</a> offered, 1.18 million payment deferrals on credit cards and 828,000 payment deferrals on personal loans </li>
<li>Over £68 billion of lending to more than 1.5 million businesses through government Covid-19 lending schemes </li>
<li>Protecting customers from <a href="… and fraud</a> </li>
<li>Higher limit for<a href="…; contactless payments </a><br />
</ul><p>5. The Bank of England has <a href="…; that the Covid Corporate Financing Facility (CCFF) has so far supported £16 billion of lending. </p>
<p>6. More information on the CBIL scheme is available <a href="…;. More information on the BBL scheme is available <a href="…;. More information on the CLBIL scheme is available <a href="…;. </p>
<p>7. The government?s <a href="… finder?</a> tool can help businesses and self-employed people across the UK to quickly and easily determine what financial support is available to them during the coronavirus pandemic<strong>.</strong> </p>