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Written question asked by Lord Myners (Crossbench) on Wednesday, 12 February 2020, in the House of Lords. It was due for an answer on Wednesday, 26 February 2020. It was answered by Lord Callanan (Conservative) on Wednesday, 26 February 2020 on behalf of the Department for Business, Energy and Industrial Strategy.

British Business Bank

Question

To ask Her Majesty's Government how much the British Business Bank lent through peer-to-peer lending platforms in each of the last two financial years; and whether the British Business Bank continues to provide loans to new borrowers through peer-to-peer platforms or whether loans are now confined to supporting previous borrowers sourced through peer-to-peer platforms.

Answer

The British Business Bank does not lend directly to SMEs. The Bank’s total exposure through peer-to-peer delivery partners was:

· £101.3m at 30 September 2019 (the latest data available), and

· £102.9m at 31 March 2019.

The Bank’s exposure contributes to loans to SMEs. In combination with other funders, the new loans it supported through peer-to-peer platforms were as follows:

· £268.7m of new finance to 2,738 SMEs in the six months to 30 September 2019 (the latest data available), and

· £705.4m of new finance to 7,794 SMEs in Financial Year 2018/19.

The Bank’s exposure to peer-to-peer delivery partners continues to provide finance to new SME borrowers.

Secondary information

Type
Written question
Reference
HL1607
Session
2019-21
Related items
British Business Bank
Monday, 16 March 2020
Written questions
House of Lords
Subjects
Loans British Business Bank Crowdfunding
Contains statistics
Yes
Link
View this Written question on www.parliament.uk