To ask the Secretary of State for Business, Energy and Industrial Strategy, how many lenders have had their Government guarantee on loans made under the (a) Coronavirus Large Business Interruption Loan Scheme and (b) Coronavirus Business Interruption Loan Scheme removed; and what the reasons are for that removal.
13 April 2021
All accredited lenders are subject to audit by the British Business Bank to ensure their compliance with scheme rules. If serious non-compliance is identified, the Bank is entitled to take remedial action. Such action might include termination of the Guarantee Agreement, or withdrawal of the Guarantee.
It would not be appropriate to comment on individual cases given commercial sensitivities.