In response to the extensive economic disruption caused by the COVID-19 pandemic, the United Kingdom's government created a range of measures to help support businesses survive the loss in revenues and cashflow. To help businesses, the Bounce Back Loan Scheme (BBLS) was set up. The scheme, which is a part of a wider package of government support for UK businesses and employees allows lenders to provide a six-year term loan from two thousand British pounds up to 25 percent of a business' turnover. The maximum loan amount is currently fifty thousand British pounds.
Between May 10, 2020 and May 31, 2021, nearly 1.56 million businesses have been approved for finance with the cumulative value of lending through the Bounce Back Loan Scheme (BBLS) amounting to approximately 47.4 billion British pounds.
Cumulative value of loans approved by the Bounce Back Loan Scheme (BBLS) in the United Kingdom (UK) between May 2020 and May 2021
(in billion GBP)
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HM Revenue and Customs. (July 8, 2021). Cumulative value of loans approved by the Bounce Back Loan Scheme (BBLS) in the United Kingdom (UK) between May 2020 and May 2021 (in billion GBP) [Graph]. In Statista. Retrieved August 08, 2022, from https://www.statista.com/statistics/1131803/value-of-facilities-approved-by-the-bounce-back-loan-scheme-in-the-uk/
HM Revenue and Customs. "Cumulative value of loans approved by the Bounce Back Loan Scheme (BBLS) in the United Kingdom (UK) between May 2020 and May 2021 (in billion GBP)." Chart. July 8, 2021. Statista. Accessed August 08, 2022. https://www.statista.com/statistics/1131803/value-of-facilities-approved-by-the-bounce-back-loan-scheme-in-the-uk/
HM Revenue and Customs. (2021). Cumulative value of loans approved by the Bounce Back Loan Scheme (BBLS) in the United Kingdom (UK) between May 2020 and May 2021 (in billion GBP). Statista. Statista Inc.. Accessed: August 08, 2022. https://www.statista.com/statistics/1131803/value-of-facilities-approved-by-the-bounce-back-loan-scheme-in-the-uk/
HM Revenue and Customs. "Cumulative Value of Loans Approved by The Bounce Back Loan Scheme (Bbls) in The United Kingdom (Uk) between May 2020 and May 2021 (in Billion Gbp)." Statista, Statista Inc., 8 Jul 2021, https://www.statista.com/statistics/1131803/value-of-facilities-approved-by-the-bounce-back-loan-scheme-in-the-uk/
HM Revenue and Customs, Cumulative value of loans approved by the Bounce Back Loan Scheme (BBLS) in the United Kingdom (UK) between May 2020 and May 2021 (in billion GBP) Statista, https://www.statista.com/statistics/1131803/value-of-facilities-approved-by-the-bounce-back-loan-scheme-in-the-uk/ (last visited August 08, 2022)
