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Written question asked by Lord Myners (Crossbench) on Monday, 24 February 2020, in the House of Lords. It was due for an answer on Monday, 9 March 2020. It was answered by Lord Callanan (Conservative) on Thursday, 5 March 2020 on behalf of the Department for Business, Energy and Industrial Strategy.

British Business Bank

Question

To ask Her Majesty's Government whether the value of new loans extended by the British Business Bank sourced through peer-to-peer lending platforms has (1) increased, or (2) decreased, over the last three completed financial years; and what percentage of such loans were to borrowers who had already received funding from the British Business Bank.

Answer

The British Business Bank’s participation in peer-to-peer lending platforms has been primarily through the Bank’s commercial subsidiary British Business Investments. Data collected across programmes and delivery partners is consolidated on a programme-by-programme basis.

The value of new loans extended by the British Business Bank sourced through peer-to-peer lending platforms has increased year-on-year over the last three completed financial years.

Over the three year period, of the 15,420 distinct SME customers that have received financing through the peer-to-peer delivery partners of British Business Investments, 9.36% have been to repeat peer-to-peer customers[1]. The Bank does not hold data on how many peer-to-peer customers may previously have benefitted from other British Business Bank programmes.

[1] This data excludes finance through Market Invoice as a single customer could have multiple invoices funded through the platform at a time.

Secondary information

Type
Written question
Reference
HL1775
Session
2019-21
Subjects
Loans British Business Bank Crowdfunding
Contains statistics
Yes
Link
View this Written question on www.parliament.uk