Written Question·Department for Business and Trade·UIN 1862

Bounce Back Loan Scheme and Coronavirus Business Interruption Loan Scheme

Tabled: 25 July 2024

Answered: 2 August 2024

Named Day

Question

Mr Luke Charters

To ask the Secretary of State for Business and Trade, what recent estimate his Department has made of the level of credit losses arising from fraudulent loans provided through the (a) Bounce Back Loans Scheme and (b) Coronavirus Business Interruption Loan

Answer

Gareth Thomas

As at March 2024, £1.51 billion has been paid out on the government guarantee on BBLS loans where there was lender reported suspected fraud, and £19.8 million has been paid out on the government guarantee on CBILS loans where there was lender reported sus...

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