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How Many EFG Loans Have Been Approved So Far?

Posted 1 months ago

How Many EFG Loans Have Been Approved So Far?
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The EFG, Enterprise Finance Guarantee, is a scheme that facilitates lending to small businesses that are viable but unable to obtain finance from their lender due to having insufficient security to meet the lender’s normal security requirements. To date, more than 35,000 loans have been drawn down under the EFG programme, to a value of over £3.3bn (as at end June 2019). In this guide, we breakdown the approval of EFG loans by region, sector and banking group to give you an idea of how it is performing for businesses.


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*Data derived from the British Business Bank.

EFG lending by region

 

Region

Number of Loans Offered

Value of Loans Offered (£m)

Ratio of Number of Loans per 10,000 businesses in Region

Number of Loans Drawn

Value of Loans Drawn (£m)

Ratio of Number of Loans per 10,000 businesses in Region

East Midlands

2,755

302.0

89.6

2,441

267.9

79.4

East of England

3,107

343.3

61.9

2,670

293.6

53.2

London

4,989

620.6

59.6

4,219

512.2

50.4

North East

1,269

115.8

90.8

1,106

100.1

79.1

North West

4,878

509.7

101.2

4,316

445.2

89.5

Northern Ireland

364

53.5

29.4

312

45.6

25.2

Scotland

2,464

318.1

76.0

2,153

282.2

66.4

South East

4,840

541.9

65.1

4,169

461.7

56.1

South West

3,489

348.4

75.1

3,077

301.3

66.2

Wales

1,361

149.6

68.0

1,181

128.7

59.0

West Midlands

3,596

368.5

99.0

3,123

311.7

85.9

EFG lending by sector

 

Sector

Number of Loans Offered

% Of Number of Loans Offered

Value of Loans Offered (£m)

% Of Value of Loans Offered

Number of Loans Drawn

% Of Number of Loans Drawn

Value of Loans Drawn (£m)

% Of Value of Loans Drawn

Wholesale & Retail Trade; Repair of Motor Vehicles & Motorcycles.

10,335

27.9%

984.3

24.4%

8,855

27.5%

843.0

24.4%

Manufacturing

4,577

12.4%

571.8

14.2%

4,123

12.8%

504.8

14.6%

Accommodation and Food Services Activities

5,687

15.4%

607.6

15.1%

4,730

14.7%

504.2

14.6%

Professional, Scientific & Technical Activities

2,993

8.1%

334.5

8.3%

2,664

8.3%

295.6

8.6%

Construction

2,185

5.9%

215.2

5.3%

2,027

6.3%

197.8

5.7%

Human Health & Social Work Activities

2,085

5.6%

308.0

7.7%

1,694

5.3%

233.0

6.7%

Information & Communication

1,678

4.5%

225.6

5.6%

1,527

4.7%

200.3

5.8%

Administrative & Support Services

2,325

6.3%

235.5

5.8%

2,132

6.6%

214.2

6.2%

Transportation & Services

1,000

2.7%

98.7

2.5%

888

2.8%

85.6

2.5%

Arts, Entertainment & Recreation

1,145

3.1%

151.9

3.8%

939

2.9%

123.3

3.6%

Other Service Activities

1,028

2.8%

66.2

1.6%

894

2.8%

55.6

1.6%

Real Estate Activities

653

1.8%

65.6

1.6%

578

1.8%

56.3

1.6%

Education

583

1.6%

48.2

1.2%

535

1.7%

43.7

1.3%

Water Supply; Sewerage; Waste Management & Remediation Activities

263

0.7%

40.1

1.0%

224

0.7%

33.9

1.0%

Financial & Insurance Activities

235

0.6%

42.9

1.1%

204

0.6%

37.9

1.1%

Agriculture, Forestry & Fishing

197

0.5%

16.3

0.4%

182

0.6%

14.5

0.4%

Mining & Quarrying

26

0.1%

8.0

0.2%

21

0.1%

6.6

0.2%

Electricity, Gas, Steam & Air Conditioning Supply

33

0.1%

6.3

0.2%

28

0.1%

5.9

0.2%

Grand Total

37,028

100.0%

4,026.6

100.0%

32,245

100.0%

3,456.2

100.0%

 

EFG lending by banking group

Lender Name

Number of Loans Drawn

Number of Loans Drawn

Number of Loans Drawn

Number of Loans Drawn

Number of Loans Drawn

Number of Loans Drawn

Date

2018 Oct - Dec

2019 Jan - Mar

2019 Apr - Jun

2019 Jul - Sep

2019 Oct - Dec

Grand Total

Bank of Scotland

2

5

6

8

6

373

Barclays Bank Plc

33

44

32

31

42

4,110

Clydesdale Bank PLC

11

9

10

8

11

836

HSBC UK Bank Plc

68

71

77

80

71

4,705

Lloyds Bank

27

37

35

36

24

5,939

Royal Bank of Scotland Group

52

46

63

62

54

10,881

Santander UK

4

1

4

3

3

310

Other Lenders

207

216

219

307

271

5,091

Grand Total

404

429

446

535

482

32,245

 

CEO of NextFin, Sacha Bright, said: “It is interesting to see that the government-owned banks, RBS and Lloyds, have lent the most compared to their competitors, which does go to show that CBILS was not a viable lending proposition.

“The fact that HSBC is the largest bank in England has lent 50% less than RBS, which is the fourth-largest bank in England, reinforces my previous comments that CBILS was not fit for purpose and not a viable product for a private bank. The figures speak for themselves.”

 

 

Author: Sacha Bright & Oliver Murphy

Disclaimer

To the best of our knowledge, the information we have provided is correct at the time of publishing. Sacha Bright is not a solicitor or accountant and we recommend that you seek professional advice on any topic discussed.

 

Tagged: Enterprise Borrow Business CBILS Banks



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